Blinded by a Scientologist Monday, August 26, 2002 01:46 PM ET Upshot by Patty Enrado
Chalk it up to another high-tech investor gone bust. Reed Slatkin, a former board member of ISP EarthLink, pleaded guilty to 15 federal charges that he bilked at least $255 million from investors in a Ponzi scheme, using the money paid into the scheme by newer investors to pay returns to the earlier investors. Since 1986, Slatkin had engaged in fraud, money laundering, and conspiracy, taking in more than $593 million from some 800 people. Despite his success with EarthLink-his only financial success-Slatkin's real estate and tech-startup failures quickly turned into a pile of debt. His desire to live the good life did not help matters. Now that he is filing for bankruptcy, hoodwinked investors, including TeleTech Chairman and CEO Kenneth Tuchman, Fox News Anchor Greta Van Susteren, and members of the Church of Scientology-where Slatkin is an ordained minister-are not likely to see a dime they put into his unlicensed investment club. http://www.upside.com/texis/mvm/story?id=3d6a69911 News Ltd for f***ed company soon?
