Banking experts qualify the service being hawked in this San Francisco Chronicle ad as a potential Ponzi schemeReaders skimming the ads on page D-2 of the Sunday, July 12 San Francisco Chronicle might have been surprised to see an extraordinary investment opportunity in a quarter-page advertisement running a couple columns below Scott Adams' Dilbert cartoon.
"You can now earn: 1 year -- 11.00 percent," the advertisement announces, urging readers to go to a Web site describing "investment notes"
On Friday, July 17 The Snitch warned readers that an advertisement published in the previous Sunday's San Francisco Chronicle seemed intended to lure mom-and-pop investors into possible financial disaster.News headlines Monday suggest our warning was valid. Advanta Corp., a bank holding company specializing in small business credit cards announced today it was filing for bankruptcy, throwing into question whether the company would pay in-full investment notes advertised in the Chronicle's bus