Investment firm charged with "illegal" ads

10/18/2006 | Wall Street Journal (free content), The

Pinnacle Development Partners, a firm not registered with the SEC to sell securities, and which was recently ordered closed by a federal court, was able to attract investors to what the SEC is calling a "Ponzi scheme," with print advertising in such reputable newspapers as USA TODAY, The Wall Street Journal, The Washington Post and the Los Angeles Times. This raises the question of what, if any, responsibility newspapers and other print publications have to review the claims made by advertisers.

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Wall Street Journal (free content), The

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