Herald: WBIX host Rennie accused of stealing millions

[raccoonradio]

http://bostonherald.com/business/me..._of_stealing_millions/srvc=home&position=also

Former WBIX biztalk host accused of swindling clients out of million$

>>Rennie - who used to host “Your Money” shows on radio stations in Worcester, Brockton, Plymouth and Concord - stole from all types of clients, including the elderly, regulators say...an SEC filing said bank records indicate he may have schemed as much as $4 million from investors.

 

[Blackroc]

I guess that beats D&C Thursday, telling of their ex-producer stealing miscellaneous items.

 

[ChrisNH]

There's a slight silver lining here. The crisis that started last fall caused people to ask for their capital back. This 'shaking of the branches' exposed the worst of the bad, and this guy was one of them. As long as they could keep the money swimming in circles, no one was the wiser. But get all the clients banging on your door at the same time, looking to take their money and put it under mattresses, and these crooks were toast.

 

[DanStrassberg]

Former WBIX biztalk host accused of swindling clients out of million$

>>Rennie - who used to host “Your Money” shows on radio stations in Worcester, Brockton, Plymouth and Concord - stole from all types of clients, including the elderly, regulators say...an SEC filing said bank records indicate he may have schemed as much as $4 million from investors.

I'm not sure that Rennie's show appeared on WBIX BUT Rennie underwrote Your Money with (MarketWatch columnist and syndicated newspaper columnist) Check Jaffe, which absolutely did appear on WBIX (in the early morning for more than a year). When Rennie withdrew funding for Jaffe's program, the program left the air. Jaffe always made a BIG point of the fact that he was a financial journalist NOT a financial advisor and that his backers (Rennie and maybe others) exercised no control over what he said on the program or in his columns. Nevertheless, Rennie was a frequent guest on Jaffe's program until shortly before his business arrangement with Jaffe blew up.

Also, Jaffe was a featured speaker at a dinner meeting for potential investors in some sort of investment scheme that Rennie was hawking. The meeting was held at a South Shore restaurant last fall, I believe, and it appeared that Rennie was paying for it. Jaffe gave the impression that there would be more such meetings in other locations, but there never were.

 

[Smoke]

WBIX claims another man's ethics?