Feds investigate wireless stock sales

Sep 27, 2007 | Posted by: roboblogger | Full story: StarTribune

“Anderson told the [witness] that he invested $2,500 into each of the water projects and gifted $5,000 worth of shares into the EPCOM venture”

For seven years, Eldon P. Anderson of Burnsville has been selling stock in a wireless rural communications network to investors in Minnesota, Iowa, Wisconsin and the Dakotas, authorities say, promising returns ... via StarTribune

Comments

Showing posts 1 - 20 of1,770
< prev page
|
Go to last page| Jump to page:
Epcom Wireless

King Of Prussia, PA

|
Report Abuse
|
Judge it!
|
#1
Oct 1, 2007
 
The town of Burnsville will relieved once those who are involved with Epcom Wireless go to prison.
prince

Saint Paul, MN

|
Report Abuse
|
Judge it!
|
#2
Oct 4, 2007
 
Who does this and thinks their scam will go on and on and on???
jennifer

Saint Paul, MN

|
Report Abuse
|
Judge it!
|
#3
Oct 4, 2007
 
how can someone be on probation and continue to do the same crime - More important, how can someone start with 7 felony's and end up with a gross misdemeanor - no wonder he continued in his scam. Easy money and not much consequences.
Victims of Epcom

King Of Prussia, PA

|
Report Abuse
|
Judge it!
|
#4
Oct 4, 2007
 
Its quite obvious the matter has gotten deeper. Its pretty easy how the scam goes on and on. When he got slapped on the hand over and over, he kept doing it. Its the justice system failing to protect society.

Keep your eyes posted--this isnt the end of this story.
jennifer

Saint Paul, MN

|
Report Abuse
|
Judge it!
|
#5
Oct 4, 2007
 
This better not be over, I know this guy and he is still trying to get people to invest in this stock. guess he has to keep up the payments on his big house and nice cars. It is good that this was in the paper, if the Burnsville police are too busy writing tickets etc then someone has to protect the public.
Victims of Epcom Wireless

Salt Lake City, UT

|
Report Abuse
|
Judge it!
|
#6
Oct 5, 2007
 
The big house and nice cars are a result of years of committing mail and wire fraud. Its all fantasy land. Tell me a company you know that is going public, uses a home address as HQ, no product, and no backing, and no real direction? There are dozens upon doznes of people that have been defrauded by Epcom. And thats a low figure. The comforts of the big house will soon be exchanged for an 8x10 cell.
Victims of Epcom

Saint Paul, MN

|
Report Abuse
|
Judge it!
|
#7
Oct 5, 2007
 
In the article it said that local prosecutors were not equipped to handle white collar crime??? Looks like the Dakota county justice system can turn the other way if a case takes time and effort. They would rather prosecute the "no brainier" crimes than go after someone who is stealing 100's of thousands of dollars from the public. They better get equipped to handle it and do their job.
About Time

Saint Paul, MN

|
Report Abuse
|
Judge it!
|
#8
Oct 5, 2007
 
Just glad they're ready to get him. Hoping Grand Forks will pick up this story. The farmers in North Dakota need to know that this guy is finally caught. Guessing this has gone on for a few decades. Must be a statute of limitations. Too bad for all the rest that it's too late for.
Epcom Wireless is Fraud

King Of Prussia, PA

|
Report Abuse
|
Judge it!
|
#9
Oct 5, 2007
 
The big house and nice cars will be gone soon. The big house will be replaced with "the big house" for those involved in the Epcom sceme. The house arrest and ankle monitoring for the Gross Misdeamonor conviction in MN wasnt enough to stop the crime from continuing. Phone records and the paper trail are years long. Justice will be served in the near future.
So Sad

Saint Paul, MN

|
Report Abuse
|
Judge it!
|
#10
Oct 5, 2007
 
I was asked to invest in this stock years ago, We didn't have the money but saw how nice the Anderson's life style was and wished we did have something to invest for our future. The sad thing is he solicits friends and neighbors alike with no conscience. I could not believe it when I read this in the paper. My husband was furious but said he felt sorry for his wife. I didn't, how could a wife not know????
Epcom Wireless is Fraud

King Of Prussia, PA

|
Report Abuse
|
Judge it!
|
#11
Oct 5, 2007
 
Do you think the ankle monitoring system and house arrest werent signs that something illegal was taking place a few years ago? Mr. Anderson's fantasy world is coming to an end.
About Time

Saint Paul, MN

|
Report Abuse
|
Judge it!
|
#12
Oct 6, 2007
 
He had an ankle bracelet? Was it 30 days of jail time or an ankle bracelet. I know he had two years of probation.

Also, there are no others in his company. Just him. Unless his wife was involved. I think she knew what he was doing. She had to.
Not Soon Enough

AOL

|
Report Abuse
|
Judge it!
|
#13
Oct 6, 2007
 
The reporter got it wrong. It is closer to twenty years of lying and stealing money from hardworking people. Drive by his house and look at his yard. Must be over $50,000 there alone. I hope the Feds will stop him for good this time.
So Sad

Saint Paul, MN

|
Report Abuse
|
Judge it!
|
#14
Oct 6, 2007
 
His wife does not work and if Epcom is in the toilet he wont have a way of paying for that house, maybe its paid for by the farmers in North Dakota, who knows. We will see how long it will take to have a for sale sign on that beautiful landscaped yard. I guess I will just be happy with my small house that I came by honestly and no longer envy their family. Its going to be hard to move from a $500,000 house to an apartment.
Look at this

Saint Paul, MN

|
Report Abuse
|
Judge it!
|
#15
Oct 6, 2007
 
go to MN Government, dakota county, property info, real estate inquiery, 12912, grandview ct, to see what he spent YOUR money on.
Got a stock from Epcom

United States

|
Report Abuse
|
Judge it!
|
#16
Oct 6, 2007
 
I heard someone went to his house and he had an ankle bracelet and was on house arrest. Who knows if was true or not. Low and behold, he never stopped selling Epcom. Personally, I can know at least $300,000.00 invested from 1999-2003 from talking to people. Thats talking to ND, SD, and CA. And thats a low figure and probably just tip of the iceberg. Multiply that times a multitude of many others he's connected with. It seems like groups and pockets all through the midwest. One of those chain reaction things. A friend tells a friend who tells a friend and so o Anyone who has been scammed, the magic # is 3 years--statue of limitions. Play the game for 3 years and guess what, Epcom thinks they found the loop hole. A few grand here and there, it wont hold up in small claims after 3 years. But for the most part, it was a 1 man show from what many say. Call the SEC, Burnsville Police, States Attorney of MN--they know the situation. Its only a matter of time before the walls come crumbling down on Eldon Anderson if justice follows the course.
The paper trail

United States

|
Report Abuse
|
Judge it!
|
#17
Oct 6, 2007
 
There is always the paper trail of where funds came from to pay for things like a mortgage. If your committing crimes to get money illegally and that money is used to purchase items or pay for things, like a home, what happens? Mail and wire fraud cases could equate to siezer of assets. Thats common knowledge.
About Time

Saint Paul, MN

|
Report Abuse
|
Judge it!
|
#18
Oct 7, 2007
 
They went from welfare, living in subsudized housing and no jobs, to living in that house. It's rather peculiar.
So Sad

Saint Paul, MN

|
Report Abuse
|
Judge it!
|
#19
Oct 7, 2007
 
Why has it taken 20 years to catch this guy. Are the people he scammed not coming forward or what. If he had my money I would not let it rest. I wonder if he is sitting at home right now thinking he is going to get away with this too and his wife is out buying another pair of Chanel sunglasses.
Epcom Victims

United States

|
Report Abuse
|
Judge it!
|
#20
Oct 7, 2007
 
Dozens of people have come forward. I believe are probably many that didnt come forward because they drank too much of the cool aid if they said something, they would never see the money they believed they were supposed to see. People have called the FBI, SEC, Burnsville Police, and States Attorney of MN. People have not let it rest. Its taken the justice system years to even do anything and the Feds finally got involved. This a Federal case now and they know the history behind Epcom. I dont think the Feds are going to be as gentle this time around. Mail and wire fraud dont get little slaps on the hands. Selling securities (stock certificates) without a license is a felony. Each security sale, wire and mail violatoin is probably a felony and there must be hundreds. Mr. Anderson is in serious trouble and this is only the beginning.

Tell me when this thread is updated: (Registration is not required)

Add to my Tracker Send me an email

Showing posts 1 - 20 of1,770
< prev page
|
Go to last page| Jump to page:
Type in your comments below
Name
(appears on your post)
Comments
Characters left: 4000
Type the numbers you see in the image on the right:

Please note by clicking on "Post Comment" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

•••
•••
•••
Burnsville Dating

more search filters

less search filters

•••

Burnsville Jobs

•••
Enter and win $5000
•••
•••

Burnsville People Search

Addresses and phone numbers for FREE

•••

Burnsville News, Events & Info

Click for news, events and info in Burnsville
•••

Personal Finance

Mortgages [ See current mortgage rates ]
•••