Znetix Investors Will Recoup Fraction of Money ; Only 20 Cents On Dollar Expected in Stock Swindle Case
The Columbian › January 20, 2005
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Summary
SEATTLE - Thousands of people who lost millions of dollars in one of the nation's biggest stock swindle cases can only hope to get back about 20 cents for every dollar they invested, a court- appointed receiver overseeing the case said Wednesday.
Receiver Michael Grassmueck, Assistant U.S. Attorney Jeffrey Coopersmith, and other state and federal officials briefed reporters on the status of the Znetix case, in which a Bainbridge Island man persuaded others, beginning in the mid-1990s, to help him start a health and fitness company.See the full content of this document
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Znetix Investors Will Recoup Fraction of Money ; Only 20 Cents On Dollar Expected in Stock Swindle Case
Though the company and its tangled web of affiliates collected $91 million from 7,200 investors across the country, recruited sports stars like Shaquille O'Ne...
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