Investment Scam: Were You a Victim?

“A former Port Orchard man accused by the federal government of taking millions of dollars in a fraudulent investment scheme has been extradited from Poland and is now in jail, according to the U.S. Attorney’s Office of Western Washington.

Charles N. Bush, 68, is alleged to have accepted more than $30 million from investors who were told he’d taken a ‘vow of poverty’ and had placed the money in high-yield funds between 1998 and 2002.”

So writes Crime and Justice reporter Josh Farley in today’s story about an alleged investment scam that may have affected South Kitsap residents. Josh would like to hear from anyone who has had any dealings with Bush. E-mail him at jfarley@kitsapsun.com.

Here’s some more information from the story.

“Bush began his alleged scheme in Des Moines before moving to Port Orchard, where he operated investment entities called Hulaman Management Services (HMS), Global Dominion Financial Services (GDFS) and Cornerstone Institute.

His alleged scam kept going by using methods akin to a Ponzi scheme, in which to satisfy investors, he paid out large rates on return with investors’ original investments, not profits.

Federal prosecutors also allege that he ‘falsely represented his background, knowledge and experience,’ to tempt investors, and told them his offers were ‘exclusive’ to draw them in further.”

2 thoughts on “Investment Scam: Were You a Victim?

  1. My note: I visited the Web site recommended below. In order to “report a bash” or get “insider information” you have to sign up as a member. Signing up is free. They say they are privately funded, so I would guess at some point members have the opportunity to donate to the cause. On the sign-up form, they ask for age and gender (mandatory) and also income and portfolio (optional). It seems on the up and up, but as it’s coming through our Web site, I want to tack on this disclaimer, “As with any online disclosure of information, exercise good judgment and healthy skepticism.” – CTH

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