News (AP) - Investment scam quickly took in more than $1M

CANTON TOWNSHIP (AP) -- Federal regulators say it was too good to be true: A Detroit-area woman is accused of collecting more than $1 million from investors who were told they would earn at least 10 percent a month. The Securities and Exchange Commission filed a lawsuit Wednesday to shut down C.J.'s Financial, run by Candice Campbell of Canton Township. Regulators say only a small sum was used to make investments. The SEC says money was instead used for vacations, cars, jewelry, laser surgery and other luxuries. More than $1 million was collected in just 13 months. The government says some of it was recycled to investors to keep them happy, a typical Ponzi scheme. A message seeking comment was left for Campbell. Published: Fri, Aug 6, 2010

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