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This scam was perpetrated on clients in the 60's by a "FINANCIAL PLANNER" who
helped increase his client's debt.
He had the client refinance his home, and placed the money in a Mutual Fund.
The idea being, that his MF equity would grow fast enough to make the extra
monthly mortagage payment (which was tax deductible).
On top of it all, his MF balance was supposed to have a bonus value over &
above his P & I payments.
Unfortunately (for the client) the market went the wrong way, and losses were
the result.
$12,500 PLUS $120 per month. What a rotten thing to do to people!
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