CNBC reports that an 82 year old New York State man, Richard S. Piccoli (no, we absolutely did not make that up and though there is no apparent relation to Jeff Spicoli, this will not, in any event, prevent us from posting Jeff's picture) took in at least $17 million since 2004. Apparently, he targeted the clergy. (That, we approve of heartily).
We think Jeff makes a fine poster boy for all things Ponzi, actually, after putting him up.
Brad Hamilton: Why don't you get a job Spicoli?
Jeff Spicoli: What for?
Brad Hamilton: You need money.
Jeff Spicoli: All I need are some tasty waves, a cool buzz, and I'm fine.
We rest our case.
In any event, seems to be that one of the messages from the latest Ponzi schemes is: Don't under any circumstances trust seniors with your money.