It should have been too good to be true, as Justice Ronald Young pointed out in his doorstop of a judgment.
Sunday, November 30th 2003, 1:06AM
by The Landlord
Yet hundreds of investors poured money into a scheme that could see them hit with penalties totalling hundreds of millions of dollars.
The bearded and bespectacled judge was referring to the Actonz investment scheme which, by promising vast tax savings, attracted a horde of investors hyped by the 1990s technology bubble.
However, what obviously appealed to investors as a great idea in 1996 soon foundered as the tech bubble burst and the Inland Revenue Department started investigating.
