First arrest made in widespread investment scam

LAWRENCEVILLE - A man suspected of illegally taking more than $630,000 from 18 Georgia residents who thought they were making solid investments turned himself in Friday. <br> <br> Insurance salesman Eric Todd Harber, 39, of Athens, was charged Friday with taking $25,000 from a Gwinnett investor in exchange for a promissory note that may be worthless and wasn&#39;t properly registered with the state, according to court records. <br> <br> The residents thought they were giving the money to Harber to invest through Tampa, Fla.-based McCarn&#39;s Allstate Financial Corp., said Kara Sinkule, spokeswoman for the Georgia secretary of state&#39;s office. <br> <br> Sinkule said the money was supposed to be used to finance high-interest car loans that would provide investors a 9 percent return in nine months. Investors complained when they stopped receiving dividend checks. <br> <br> Harber is the first Georgia arrest in the case, which is believed to involve more than 100 mostly elderly victims in the state who invested millions in illegal securities deals.

http://accesswdun.com/article/2003/2/184254