|Cole A Bartiromo was accused of taking $1 million dollars from 1,000 investors illegally when offering 125% returns on their investment in his “Christmas Miracle” program.|
Investors, between November and December believed in the quick-buck that the Invest Better 2001 web site promised, and a seemingly simple scam turned into a million dollar fraud.
Invest Better 2001 was supposedly taking the investment and placing it into “safe bets” with three online sportsbooks. Of course, online gamblers know that there is no sure thing, however, the literature provided by Bartiromo promised otherwise.
The money was taken through PayPal accounts into his Costa Rican offshore account. It then disappeared into Bartiromo’s pockets.
The SEC and Bartiromo have come to an agreement to transfer the ill-gotten funds back to the investors, but additional charges and penalties remain.