In 15 years, the Minneapolis investment group of Investors Syndicate, Investors Mutual, Inc. and Investors Syndicate of America has sold $1,500,000,000 in certificates to 400,000 persons. Last week SEC charged that the group had "perpetrated fraudulent practices." SEC froze the group's business, asked a Federal court order restraining the companies from paying cash surrenders and loans to certificate holders. Said SEC: investors were told that Mutual shares are safer than war bonds, and accomplish the same purpose.
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