If you invested money with McGinn, Smith & Co., lucky you: Your returns are about to set sail on a sex-themed luxury cruise!Yesterday the SEC accused the New York brokerage firm of what might be the sexiest Ponzi scheme since the Great Panty Exchange of 2004.
Some of the company's $136 million in misused funds were put toward procuring strippers for You Only Live Once (YOLO) Cruises, a ship for swingers that features sexually explicit games and parties, bonking playrooms, and a whole lot of nudity.
According to complaint, investors were not aware that their cash was used for "YOLO Cruises, that the affinity group was sexually oriented, that strippers and go-go dancers would be procured to entertain passengers, that investor money would be used to buy insurance for these individuals."
The charge also claims that Timothy McGinn, firm co-owner and the dirty old coot who apparently doesn't mind naked people hanging around the lido deck buffet, is "romantically involved" with the woman who runs YOLO. So basically, he's nailing the Julie McCoy of the ship.
The next YOLO cruise,"Carnival Imagination," sets sail on October 29 from Miami. Reserve your room now and maybe you, too, will get lucky at sea. And/or lose all your investments. Bon voyage!
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Wednesday 21 April
By Daniel Reyes
I think yolo is a great idea. At least one can see were the money was spent.
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Wednesday 21 April
By David S.
What a hoot -- the SEC getting high and mighty? Or, for that matter, any stockbroker? They have been screwing Americans for years -- at least this ship didn't hide what it was about! I'm willing to bet a few of them were on board -- I know I wish I was.
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Thursday 22 April
By Platinum_Skeet
If you don't need to bring a partner with you sign me up...
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