Avarice Funds' Professional Advisory Board is composed of seasoned financial professionals. These veterans of wealth creation and management have over twenty decades of combined service time with well over twenty decades of time yet to serve. Their understanding of economics and their clientele has been proven to be "beyond a reasonable doubt."
Investor Emeritus (Deceased)
In the 1920s, Mr. Ponzi promised investors a 50% return within a few months for what he claimed was an investment in international mail coupons. Instead he used funds from new investors to pay fake “returns” to earlier investors. Ponzi's gained considerable attention both within the United States and abroad while perpetrating his scheme and after it collapsed. He has subsequently been honored as the originator of the “Ponzi Scheme,” which is as popular as ever.
Senior Vice President, Client services (On leave)
Prior to joining the board of Avarice Funds, Mr. Bailey operated Southern Financial Services in Asheville, North Carolina, where he offered self-directed IRA accounts and created limited liability companies for his clients to assist them in the purchase of real estate. Under Mr. Bailey's leadership, he was able to successfully lighten the wallets of his clients to the tune of $13 million before being charged with securities fraud, mail fraud and filing false tax returns. Mr. Bailey resides in Edgefield, South Carolina.
Senior Vice President, Political Affairs (On leave)
This former head of a Tokyo and Las Vegas investment firm convinced Japanese retirees to invest in a medical collections business that could earn up to 10% annual return. Instead, Mr Fujinaga spent their dough on a Las Vegas golf course mansion, a private jet, luxury cars and real estate in California’s wine country, To his credit Mr Fujinaga’s $1.5 billion Ponzi scheme ranks among the largest-ever fraud cases in the U.S. Mr. Fujinaga (Federal Bureau of Prisons #50059-048) resides in Victorville, California.
Chief Executive Officer and President (On leave)
Mr. Petters, a successful Minnesota businessman was the CEO and chairman of Petters Group Worldwide, a diversified company with assets such as Sun Country Airlines and Polaroid. Building on that success, Mr. Petters, with the assistance of Vice President of Operations, Deanna Coleman, enlisted clients to invest in electronics to be offered for sale through large retailers such as Costco and Sam's Club. Mr. Petters (Federal Bureau of Prisons #14170-041) lives in Leavenworth, Kansas.
Vice President, Information Technology (Foreign assignment)
Mr. Snowden is a computer specialist and former employee of the United States Central Intelligence Agency (CIA). Following his tenure at the CIA, he worked as a Booz Allen Hamilton contractor for the government's National Security Administration (NSA). Then, following his departure from the NSA, he became an influential figure in world affairs, particularly in the area of Internet surveillance programs such as PRISM, XKeyscore and Tempora. Mr. Snowden is currently overseeing Avarice Funds’ Moscow operation.
Executive Vice President, Offshore Investments (On leave)
Under his leadership and through his company, Stanford Financial Group, based in both Houston and Antigua, Mr. Stanford's nearly 30,000 clients saw a return of their investments of an extraordinary 2.7 percent, representing approximately $188 million in return for their cumulative investments of $7 billion. Mr. Stanford (Federal Bureau of Prisons #35017-183) currently resides in Coleman, Florida.