Talk Host Burned By Investments With Firm He Promoted
February 3, 2009 at 5:54 AM (PT)
CLEAR CHANNEL Talk KOA-A/DENVER host MIKE ROSEN tells the ROCKY MOUNTAIN NEWS that he has lost "a lot of money" from his retirement funds through investments with a firm he was paid to promote on the air. ROSEN said that he had invested with the AGILE GROUP, for whom he did commercials, and that the firm has suspended redemption requests and told him it had invested "indirectly" with indicted alleged scam artist BERNARD MADOFF and MINNESOTA businessman TOM PETTERS.
ROSEN tells the ROCKY that he "might have to work for more years than I had planned and I might not be able to retire as comfortably as I had planned." Regarding the radio spots he did promoting AGILE, he said, "Of course I feel bad. But these are investments, and you know there is always risk in that." He said that as far as he knows, AGILE and its CEO NEAL GREENBERG were not involved in wrongdoing and "just bet on the wrong horse."
"Nobody knows what's left," ROSEN said. "I have no expectation I'll recover my entire investment. I'm hoping for as much as I can just like a lot of other people."