Wealth Building Foundation?

CS has a post about a “Wealth Building Foundation“. One of the guys running this scam has been infesting a listserve she frequents, and is apparently a few rounds short of a full magazine. The Wealth Foundation, as they have fashioned themselves, looks like a cross between a cult of personality, an illegal tax shelter, and a flat Ponzi scheme. I’m just wondering how long it takes before the FTC and SEC come busting in the door at that joint.

Here’s a gem from this nut:

“The problem is that people who claim to be experts cannot fathom how a novice could have a different point of view (that was not preprogrammed with the common belief system on the particular field of study) and run circles around them within the scope of innovation.”

I’m guessing that means that even if he has read this study he wouldn’t understand it. But he would think that he did.

5 Comments

  1. guy in the UNLV jacket says:

    That guy is awesome. I can see his appeal to the disenfranchised and ill informed. Kind of like using Bill Gates as an excuse not to college. He reminds me of this guy I grew up with named Tyrone. Tyrone would go around and make all kinds of ridiculous claims. If confronted he would either threaten to sue you or call the cops.

  2. guy in the UNLV jacket says:

    I am reading that “I’m going to sue you” thread and I came across an awsome quote
    “Someone ought to forward this to Phelps for comment…”

  3. Mexigogue says:

    Tyrone got caught in a lie once. He tried to use this African girl named Fema as his alibi. UNLV called him on it. He said “I just talked to Fema and she said she hasn’t talked to you at all.” Tyrone says. “I meant the other Fema.”

  4. Tyrone says:

    I meant the Federal Emergency Management Agency. There was a hurricane in Chicago I had to help with.

  5. THE "D" says:

    Phelps I just visited this quacks website and it is scary. I would bet money that he is raking in money from people. Everyone is looking for the next Microsoft or IBM. There is no easy fix in life.

    It’s very sad. Have you seen how he threatens people that do not agre with his ideas. SOunds like the Church or ……. Okay I am too scared to finish that.