As someone who takes an interest in the financial markets, I always love a good “scandal”. Some women like watching crazy reality TV shows...and me? Well, I like corporate scandals - especially when it has to deal with big banks or financial money lords. Ever since the meltdown of the U.S. mortgage and banking industry a few years back, I’ve been very weary of who I invest my money with.

I read this article about Stansberry research that talks about this investment company that basically duped their newsletter subscribers into purchasing a “special” report which cost $1,000, and promised them the opportunity to “double their money” based on “insider tips”. It was just a big scam which led to a $1.5 million fine from the SEC for securities fraud.

I always wonder how people, especially companies, can think that they’ll never get caught for wrongdoing. Isn’t it much easier and less costly to just be honest, have good intentions, and provide great service? Stansberry made about $1 million in revenue from the sale of that special report. Is the consequence of a bad reputation really worth a quick buck?

It’s just sad that companies like this can create a dark shadow over the rest of the industry. I’m sure there are people working in the stock market who are very honest and just want to do good for their clients, but when I read stories like this, it just reminds us to do our due diligence before handing over money to a stranger.