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Alleged Panama City Ponzi Scheme Promised 12 Percent Returns

Harrison Jones, a licensed financial planner in Panama City, was arrested recently on Ponzi scheme allegations. His advertisements, which reputedly promised to make clients' money "last as long as you do," were, apparently, a bit too good to be true after all. Jones allegedly flew under the radar because he wasn't actually trading anything. Investigators claim that Jones has not made any investments with his clients' money for several years. Any new investments he received were reputedly going toward interest for earlier investors.The name of Jones's group, the "12 Percent Savings Club," might have been a bit of a red flag."I know (that) it's a scam. There is no 12 percent right now," Messer, another local investment professional stated. "But he's not talking to professionals; he's talking to people from his church."If you have been a victim of financial fraud, then you need to speak with an experienced investment fraud lawyer about your case right away. While on our website, order your FREE copy of renowned investment and securities fraud attorney David P. Meyer's book, Five Signs of Investment Fraud and What to Do if It's Happened to You.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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