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Ian who solicited money from friends and fellow church members for investment in his fraudulent cattle embryo business. Investors were issued promissory notes and told that they would receive a 5 to 15% return within 1 to 6 months. An investigation showed the money was not invested in an embryo transfer program, but used in part to make P RO M I S S O RY N O T E S: P R O M I S E S, P RO B L E M S – 3 – interest payments to earlier investors in what is commonly known as a “Ponzi”.

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