Reed Eliot Slatkin co-founder of EarthLink created another Ponzi scheme. EarthLink is an Internet service provider headquartered in Atlanta, USA.
Slatkin's scheme collapsed in 2000 following a civil action by John Poitras resulting in attachment of most of Slatkin's property. Since 1986 Slatkin had raised approximately $593 million from over 500 wealthy investors.
Creditor claims are reported to be approximately $255 million.
Many Hollywood celebrities also lost lots of money as they got trapped in the Slatkin net.
Image: The EarthLink office building in Atlanta. Photograph, courtesy: Earthlink
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