Court of Appeals for the Seventh Circuit April 24, 2007, 05-3370 (United States v. Gary Van Waeyenberghe)

ILANA DIAMOND ROVNER, Circuit Judge.

Despite the promising name — First Choice Investment Capital — First Choice should not have been the first choice for any investor. This is because it was a fraud. Set up to market earned automobile receivables (EARs) as an investment opportunity that would return 11% interest on a monthly basis, the program flourished at collecting investors’ money.