Former WGN Financial Talker Accused Of Fraud
February 16, 2009 at 5:24 AM (PT)
Former TRIBUNE Talk WGN-A/CHICAGO weekend "ON THE MONEY" financial advice show host RALPH RUSSELL has been accused by the ILLINOIS Securities Dept. of running a $260,000 Ponzi scheme, according to the CHICAGO SUN-TIMES.
The state claims that RUSSELL's RWR CAPITAL MANAGEMENT LLC defrauded investors by taking newer investments to pay older investors. A hearing officer is scheduled to take the case on FEBRUARY 25th.
RUSSELL's show aired on WGN in 1999-2006.