Woman Arrested in Arizona, Accused of Bilking Investors Out of $24 Million

The Associated Press Published: Oct 6, 2001

TUCSON, Ariz. (AP) - A woman allegedly bilked about 1,000 investors out of $24 million over five years, a scheme she used to buy an expensive house, extravagant shopping sprees and exotic trips, investigators said. Maryanne Chisholm, 36, of Tucson was arrested Friday and charged with two counts of conducting an illegal enterprise, three counts of fraud, and 141 counts of sale of unregistered securities.

Authorities said between March 1995 and June 2000, Chisholm allegedly offered stock nationally in Safari Media, a company dealing in computer-based technology and the music industry. Investigators said that despite a state order barring her from selling stocks, Chisholm solicited investments for two new companies.

Court documents said proceeds from stock sales were transferred to Chisholm's private account.

She also allegedly threatened to publish personal information of investors on a Web site if the investors agreed to testify before a grand jury.

AP-ES-10-06-01 0741EDT

-- Anonymous, October 06, 2001

Answers

This is changing the subject, except that it has to do with a horrible demise in the computer industy: My old ISP, Metricom, went bankrupt this last July (which is why I no longer have a wireless modem, which is actually a good thing). Paul Allen, one of the early Microsoft investors who became extremely rich, was I gather the primary investor in Meticom. Anyway, it owes suppliers etc. 1.1 billion.

-- Anonymous, October 06, 2001

Peter, so many have lost great fortunes and the averge invester who has/had stocks... have lost alot of their retirement money.

Now with the interest rates sooo low, the person with savings in banks are going to have a hard time because of the low return on their money. I've heard many people are refinancing their homes, also because of the interest rates changing. Good for some, not so good for others.

-- Anonymous, October 06, 2001

Peter, thinking again of what you said. The domino effect comes to mind.

-- Anonymous, October 06, 2001