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November 29, 2009

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Attorney general’s investigation halts investment scheme

Saturday, Jan. 11, 1997 | 11:59 a.m.

The civil complaint filed Friday alleges that Infinity Capital Group and BBDS Alliance unlawfully promoted investment schemes known as the United Foundation for Life Enhancement Programs and International Joint Venture Clubs.

Corporate officers James Ivy Dean, Anthony Burton and Sanford Campbell, all Dana Point, Calif., residents, were also named in the suit.

The companies solicited investors to purchase a "position" in the program by wiring $2,500 to a Nevada bank account, the complaint said. In return for the investment, the defendants allegedly promised a return of $60,000 in a few months.

The defendants misled investors into believing that the companies had connections in the international financial community with the ability to produce extraordinary profits, the lawsuit said.

In September, investigators recovered more than $500,000 in proceeds from the investment schemes after a seizure of bank accounts in which investors' money was deposited.

"Reports of suspicious activities helped prevent the potential loss of investors' monies," Attorney General Frankie Sue Del Papa said. "The Telemarketing and Consumer Fraud Unit encourages investors to carefully investigate any company that offers them incredible returns in a short period of time."

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