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Regional News

Big Fine for "Hobo Prince" Scam


The State of Oregon has hit the man known for the Hobo Prince Investment scheme with a $1-million fine.  Shelby Bell, who lives in Vancouver, would take $25 investments for the promise of $900 a week for seven years.  Van Pounds, Chief of Enforcement for the Oregon Division of Finance, says the $187,000 collected appears to have been spent.   It doesn't appear that any of the investors got money back.  Bell attracted clients at seminars, through religious organizations and over the Internet.


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