Chad Deal 9 a.m., April 16
Maybe Victims of This Scam Should Be Locked Up, Too
Sometimes I think that the victims of certain scams should be locked up with the perpetrators. It might be the only way to protect naive folks from self-destruction. I am talking about Ponzi schemes in which victims are promised 100 percent returns per week, and bite. Another of these came along today (Feb. 17). James Folsom was found guilty by a federal jury of 26 counts of selling an unapproved medical device. The device, called by names such as "AstroPulse," is a micro-current frequency generator with a digital readout, two stainless steel cylinders and wires to hook up the multifarious parts. According to the U.S. Attorney's office, buyers got an operating manual setting forth digital settings: one could use the device on AIDS, diabetes, stroke, ulcers, worms --- just set up the digital readings and wait to feel better. Folsom, who sold the devices under the name Jim Anderson, peddled more than $8 million worth. He will be sentenced May 11.