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Facebook – Financial Pyramid scheme shutdown by SEC

The SEC recently stopped a financial scam where Facebook and other sites were utilized

http://www.usatoday.com/story/money/business/2014/03/05/sec-pyramid-facebook-twitter/6089055/

QUOTE: The Securities and Exchange Commission took emergency action against an alleged fraudulent pyramid scheme promoted on Facebook and Twitter. A federal court gave the SEC a court order to freeze the accounts held by Fleet Mutual Wealth and MWF Financial, doing business as Mutual Wealth. The SEC claims Mutual Wealth has “been exploiting investors” using social media including Facebook and Twitter. Investors were promised returns of 2% to 3% a week, the SEC says, by using an investment strategy that “invests into securities for no more than a few minutes.”

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