Yes, this guy is small time, ripping off people for "only" $6.5 million, but his approach is unique. In
the SEC complaint filed against Nashville, TN advisor (who is not registered as an advisor anywhere but presented himself as one), Gordon
Grigg and his firm Pro Trust, the mini-
ponz took investors money "and misrepresented that their money was invested in the federal government's Troubled Asset Relief Program (TARP) and other securities that, in reality, do not exist."
Seems the next wave of
ponzi is taking taxpayers' money to (not) invest it in
taxpayers' money... Oddly elegant when one thinks about it.
It is not known whether Gregg is currently fleeing by green Subaru or trying to work the autopilot on Falcon 7x.
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