An Alleged $75 million Ponzi Scheme

Last Spring, a listener invited me to lunch with the Courtrights, a couple who ran a business that invested in Shopify stores– hundreds of Shopify stores– and offered a guaranteed rate of return to investors.On January 14th, the SEC announced that, "it filed an emergency enforcement action and obtained a temporary restraining order and asset freeze against Illinois resident Kenneth D. Courtright, III and his company, Todays Growth Consultant Inc., in connection with an alleged Ponzi-like scheme that raised at least $75 million from more than 500 investors throughout the United States and abroad."Let's unpack that.Links MentionedSEC StatementChicago Tribune: SEC freezes assets of suburban owner of The Income Store, allegedly a $75 million Ponzi-like website investment schemeNever miss an episodeSubscribe wherever you get your podcastsJoin Kurt's newsletterHelp the showAsk a question in The Unofficial Shopify Podcast Facebook GroupLeave a reviewSubscribe wherever you get your podcastsWhat's Kurt up to?See our recent work at EthercycleSubscribe to our YouTube ChannelApply to work with Kurt to grow your store.SponsorsGet powerful marketing automation with Klaviyo's revenue-driving email platformTry Bold Product Upsell, free trialSave 20% on Turbo, a blazing fast Shopify theme - Use code PODCAST20 at checkoutImprove your shop’s search engine ranking with Venntov SEO Meta Manager