America is in the midst of a clean energy revolution — one that is generating hundreds of billions in economic activity. Fraudsters, too, are cashing in.
The investors, many of them over 55, were told Niyato was on the verge of an initial public offering of its stock. They were urged to hurry up and get in on the ground floor for just 50 cents a share of the limited stock supply, then watch its value soar to at least $5 a share after the IPO, according to“The promise that there’s going to be a high rate of return paid out in a short period of time – that is the hallmark red flag,” the Justice Department official said.
Ernie Friesen, who will turn 80 in April, said he sank $50,000 into Niyato and $250,000 into another green investment that the government described as a scam with. A former food company executive, Friesen left that industry 35 years ago to open an RV dealership in Yuba City, a community of about 67,000 north of Sacramento. He still works every day at the family business, alongside his son and daughter; his wife of 59 years, Irene, has retired.
“The pitch to me was how successful the company was in signing up government agencies and counties, and that the stock was going to go ballistic,” he said. And then the calls stopped. Today, the Friesens’ money is gone, and the couple is left with a manila file folder full of stock certificates.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Everything You've Ever Wanted To Know About Baking Your MakeupTips and tricks to set your makeup with the celebrity trick of baking.
Read more »
10 Cozy Vegetarian Dinners You Can Have on the Table in Under 30 MinutesStart to finish, these veggies have us feeling jussssst right.
Read more »
Rihanna Just Created A Fenty Beauty TikTok House — Because Why Not?.Rihanna’s FentyBeauty has launched its own TikTok house, and of course it’s 𝐹𝒜𝐵𝒰𝐿𝒪𝒰𝒮
Read more »
Wall Street weekahead: Investors hope Fed can help calm markets as big rate cut expectedAn economic stimulus plan, another potential deep rate cut by the Federal Reserve and quality results from economic bellwether FedEx - these are some potential market moving impacts that investors will be fixated on next week
Read more »
So You’re Suddenly Working From Home And Want To Try Gaming? Here’s How To Get Started.If you're working from home and want to try gaming, here's how: by MattRyanPerez
Read more »
Nuclear power plants are coming to the battlefieldInterest in 'microreactors' has been revived by recent wars, in which American forces proved extraordinarily hungry for energy
Read more »