How a Trump University 'Coach' Ripped off a Student for $230,000 as Part of a Massive Ponzi Scheme

We haven’t heard much about Trump University lately—mostly because it’s been overshadowed by other Trump scandals and controversies—but it’s not going away anytime soon.


The Pittsburgh Post-Gazette is reporting that a Pittsburgh woman named Melissa Norris fell prey to a Ponzi schemer and convicted criminal who also just happened to be a “coach” at—you guessed it—Trump University.

Norris, who is a plaintiff in a lawsuit against Trump University, paid $17,000 to attend a seminar where she met a “coach” named Cary Beagley who was supposed to help her find investment opportunities, but who instead guided her money into a Ponzi scheme where she ended up losing $230,000.

As local Pittsburgh station WTAE reported, Norris says that she told her coach that she wanted to invest in local properties in Pittsburgh, but he insisted that she park her investment in properties in Spain via a company called Safevest.

This set off some alarm bells, but she nonetheless heeded his advice and made the investment. Six months later, the Securities and Exchange Commission successfully got Safevest shut down in court after it accused the company of being an elaborate Ponzi scheme.

Norris, sadly, never recovered her money.

#story_page_post_article

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ post.roar_specific_data.api_data.analytics }}

Happy Holidays!