Global Pension Trust Insurance: An investment program under scrutiny
Photo by: AMagill
US Postal Inspectors launched an investigation on Benjamin Seigler, a resident of Norfolk, and his investment company early this month. The investigation was launched after authorities noticed unusual movement of money into his postal account. Authorities decided to investigate after smelling something fishy. They were worried Mr. Seigler was inviting investments from people under false promises.
Under this particular scheme, Mr. Seigler claimed to convert $42.62 of investor money to as much as $154,000 in 90 days for his investors. He says the investment is part of the Global Pension Plan, an independent online investment venture. Mr. Seigler also operates other investment schemes like the Swift Mutual Fund and Seigler Investments.
Global Pension Trust Insurance is a Scam, allege Federal authorities
As a part of the investigations, US Postal investigators raided his home last month. Among other things, they seized, three new cars, around $1.2 Million and several of his computers to further their probe. Early this month, they also tried to scrutinize his incoming mails by seizing his account. Later, they withdrew this case after reaching with an undisclosed settlement with him.
The press unearthed more information about Mr. Seigler. He is known in his community as a self-appointed Pastor for a local church which has his residential address as its address. He and his wife also reportedly filed for bankruptcy in 1996.
Meanwhile, the Global Pension Plan, the venture Mr. Siegler associated himself with, is itself being investigated for fraud by National Bureau of Investigation, Finland. The Bureau suspects the investment website of being a fraudulent pyramid scheme. The company website was closed without notice sometime during the last couple of weeks.
Source: NewsRoom Finland & PilotOnline.com
Related posts:
- Did you receive a mail today from Tim McCarron or Richard Thompson or David Bennett from Fidelity Investments?
- Missouri real estate investment goes the way of scam
- Legisi Holdings: Another online investment dream goes bust!
- AMERICAN INCOME LIFE INSURANCE- SCAM OR NOT?
- The Health Net Insurance Scam: Why do we get scammed?