'Hobo Prince' fined for investment fraud - KPTV - FOX 12
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A Vancouver man was fined $1 million for a fraudulent investment scheme.
The Oregon Department of Consumer and Business Services says Shelby H. Bell promised big returns to investors who paid him just $25. Investors saw no returns, but in less than a year, Bell received more than $187,000 from more than 7,400 people in multiple states and U.S. territories.
State investigators say Bell was not licensed to sell securities in Oregon and the investment was not registered with the state.
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