View Full Version : USA Tomorrow
02-22-2009, 08:15 AM
This may be old news sorry for reposting. I stumbled across an edition of USA Tomorrow last night and it seemed like a great newspaper with many articles on Ron Paul and Chuck Baldwin and so on. I decided to google it to learn a little more about it, when I found out the guy behind it scammed the original investors out of money. It seemed like a great idea in the freedom/liberty movement and is sad that it's all a scam.
02-22-2009, 09:03 AM
Well I'm glad I had no money to invest. I had gotten a free copy some time ago and some E mails about becoming a distributor.
The first newspaper was interesting, but I am broke.
It would be a damn shame if this is a scam.
I would like to see some more information on this aside from the one article that is posted in several places .
There two possibilities at this point. either he did scam everyone or a smear campaign has been started.
The scam reports are all very new ( within a few weeks) and there are no other reports that I can find.
02-22-2009, 09:22 AM
02-22-2009, 09:52 AM
Those guys took us for a ride on the Walk4Freedom, promised $thousands for delivering the rag, never came through :mad::mad::mad:
USA TOMORROW NEWSPAPER PONZI SCHEME UNCOVERED
With scam artists and Ponzi scheme manipulators making headlines these days, a new twist was discovered by investors and potential investors in what they believed was a legitimate opportunity to invest in creating a news organization to rival USA Today.
Jeff Lowrance is accused of defrauding investors (http://www.dailypaul.com/node/81701) and garnering huge amounts of money with the promise of creating a US news publication to be called USA Tomorrow.
According to the US Department of Justice and the Federal Bureau of Investigation, a Ponzi scheme is essentially an investment fraud wherein the operator promises high financial returns or dividends that are not available through traditional investments.
Instead of investing victims' funds, the operator pays "dividends" to initial investors using the principle amounts "invested" by subsequent investors. The scheme generally falls apart when the operator flees with all of the proceeds, or when a sufficient number of new investors cannot be found to allow the continued payment of "dividends."
This type of scheme is named after Charles Ponzi of Boston (http://www.fbi.gov/majcases/fraud/fraudschemes.htm), Massachusetts, who operated an extremely attractive investment scheme in which he guaranteed investors a 50 percent return on their investment in postal coupons. Although he was able to pay his initial investors, the scheme dissolved when he was unable to pay investors who entered the scheme later.
Lowrance, who claimed he was a billionaire from Panama, ran what is suspected to be a global con-game of enormous proportion, according to investigative journalist Ed Snook.
"Lowrance enticed and relieved investors from around the globe of over 60 million dollars over the past four-years. He has recently exposed himself as a fraud," said Snook.
When discovered to be a scam artist, Snook said that Lowrance hired the US~Observer last September to protect him from the angry investors he bilked. Lowrance reportedly believed his victims were going to travel to Panama "to exact their revenge upon him."
02-22-2009, 09:54 AM
02-22-2009, 10:18 AM
I thought that fell, at least partially, on Steve?
Regardless of that particular facet of the debacle, the USA T guys were shady, and pulled a bait and switch on us. They knew perfectly well how to rectify the situation and chose not to.
I'll reserve judgment on whether they are criminals, but I certainly got burned...
02-22-2009, 02:23 PM
I invest my money in nothing, I never take out loans, and I will never sign for a credit card.
02-22-2009, 03:07 PM
Oh I hate to hear that, it was a good paper..I called many times to be a distributor but never got a return phone call. I did read they are getting sued by USA Today for copyright infringement. We DO need a newspaper like that though..any newspaper people here? Tones
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