Radio Show Host Acccused of Real Estate Scam

The SEC has accused prominent radio talk show host Barbra Alexander of promoting her own fraudulent real estate investment scheme and misappropriating investors' funds for her own personal use - including spending $200,000 to remodel her kitchen. After luring investors with promises of 12% returns on their funds, Alexander and her partners, in "the classic hallmark of a Ponzi scheme", used new investors' funds to repay old investors after siphoning off funds for personal use.