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| Man In Trouble For Fake Company |
| By 670kboi.com |
| Published: 01/31/2011 |
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Photo Courtesy - Miami-Dade County Department of Corrections(MIAMI) -- When a man invented a cream, a "yogurt" he called it, to rub on your head to help regrow hair, lots of people invested money in his project; some put thousands into it. Now police are saying it was all too good to be true. The Miami Herald reports Sunday that Joseph Fox Batista, 55, has been arrested after scamming investors for $380,000 worth of stock in his possibly worthless company, TeloGenesis Inc. Authorities say Fox spent the money on lavish furnishings, alcohol, and sometimes just gave the money away to the homeless. This isn't the first time that Fox has been involved with a scam. He was arrested in California in 2002 for trying to sell a gold-measuring device which he took money for from clients, but never delivered on. Read More. |
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