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See if YOU Can Spot the Scam

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September 12, 2007 – Comments (0)

Mr. Rosenman described the deal in a pitch letter he provided to prospective investors for Source Financing Investors, which he launched in 2005. The investment pool would "lend to U.S. private label designers that needed interim financing to fill orders for a select group of well-known, high-end U.S. apparel retailers." Since 2001, he writes, "the return of these short-term (typically 4½ months) loans has been no less than 40%."

Big surprise, that money disappeared with super-Dem fundraiser Hsu.

Nice to know that the rich guys believe in fairy dust too, eh?

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