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The firm declared bankruptcy in 1983 and was revealed to have been a Ponzi scheme which defrauded over 400 investors of more than $22 million.[25] Rewald claimed that he had been operating the firm as a front for the U. Brown Full ebook ->Download The Essentials of Finance and Accounting for Nonfinancial Managers By Edward Fields Full ->Download utility stocks investopedia The Future of Economics: Safevest LLC returned $18 million to investors, the rest having been split among five main expenditures, including the two business partners' families, the purchase of a $1 million golf course, and $950,000 for GTS Research Inc.

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