Results tagged “stockbroker”

Not everyone losing their shirts these days can blame it on the market collapse; some unlucky investors have broker Michael Axel to blame. Despite his totally boss name, Axel was definitely not the guy to trust with your savings. And he's (allegedly) living proof that people do actually fall for that overseas e-mail scam, whereby someone you don't know, usually residing in Africa, e-mails you with some ridiculous offer that, to paraphrase Michael McDonald, only a fool believes. Axel was that fool, prosecutors say; he was arraigned Thursday on grand larceny and forgery charges and could get 15 years in prison.