Cases / Energy & alternative assets
Winans Foundation Trust
Michael Winans Jr.
This entry summarizes public reporting and government filings. Charges and civil complaints are allegations unless a court has entered a conviction or judgment — check the source for the current status.
- Company / entity
- Winans Foundation Trust
- Industry
- Saudi Arabian crude oil bonds
- How investors were recruited
- Recruited 11 initial "shareholders" who had to solicit more investors (over 1,000 victims in several states)
- Pitch & red flags
- bogus Saudi "oil bonds"; later investors' money paid to earlier ones as promised returns
Pitch phrases from this case
Source
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