Katz Coins Notes & Supplies Corp.
E-Auction 78 28 Feb - 2 Mar 2023
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United States IOS Investment Program Certificate (Bernie Cornfeld as Chairman) - famous fraud
Bernie Cornfeld was the Founder of Investors Overseas Services mutual fund. He ran the fund out of Geneva, Switzerland beyond regulators' reach, and raised over $2.5 billion before it imploded in 1970. He spent 11 months in a Swiss jail before fraud charges were dropped. After investors began to sell off during a market downturn, Cornfeld was replaced with financier Robert Vesco, who was accused of looting the company of $224 million and subsequently fled to the Caribbean.; VF
Bernie Cornfeld was the Founder of Investors Overseas Services mutual fund. He ran the fund out of Geneva, Switzerland beyond regulators' reach, and raised over $2.5 billion before it imploded in 1970. He spent 11 months in a Swiss jail before fraud charges were dropped. After investors began to sell off during a market downturn, Cornfeld was replaced with financier Robert Vesco, who was accused of looting the company of $224 million and subsequently fled to the Caribbean.; VF