Thursday, October 28, 2004
Art Scammer Arrested
40% return over a few months sounds good to me.. too good!
Art scam suspect arrested
"The suspect convinced investors that she would buy undervalued paintings with their money, Hinnant said. Jacoby told investors she would sell the paintings a few months later for a higher amount and give them a 40 percent return on their money. Once Jacoby got the cash, the art never materialized."
newsobserver
¶ 6:59 AM
Art scam suspect arrested
"The suspect convinced investors that she would buy undervalued paintings with their money, Hinnant said. Jacoby told investors she would sell the paintings a few months later for a higher amount and give them a 40 percent return on their money. Once Jacoby got the cash, the art never materialized."
newsobserver
¶ 6:59 AM
