Dot-Com Fraudsters Sent To Jail

from the nice-try dept

There are some cynical people who claim that many people who started dot com companies were really scammers who purposely set up bogus companies to steal investor money. While that's a bit of an exaggeration, clearly there were a few stories of people who were up to no good. Now, two such scammers in the UK have been sentenced to time in jail. Their scam wasn't that advanced. They just raised �3.5 million from various investors and then used off-shore companies that they had set up to "invoice" the dot com, and siphon off all the investor money. Of course, I still wonder what sort of due diligence these investors bothered to do before investing (clearly, none).