Criminal Justice
Trial Begins for Infomercial Stars Accused of Falsely Claiming Stock Profits
Two self-touted stock market experts are on trial in Alexandria, Va., on charges they falsely claimed they were successful investors in late-night infomercials for a company called Teach Me to Trade.
In opening arguments yesterday, lawyers for the Utah defendants, 49-year-old Linda Woolf and 35-year-old David Gengler, said prosecutors are blurring the line between salesmanship and fraud by bringing the case against their clients, the Associated Press reports.
Prosecutors cite tax returns and trading records for their contention that Woolf never made any stock profits and Gengler lost money some years and sat out the market at other times. The two were independent contractors for Teach Me to Trade.
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