True or False?
There seems to be a lot of emails and the third rate so call “news services” reporting that you can get money under the “Patriot Checks” program. Cash for Patriots is a federal program described by Zachary Scheidt, an affiliate of the financial publisher Agora Financial. The Cash for Patriots program described in the pitch does not appear to exist, and investors should not pay for these publications unless far more verifiable details are offered. No record of any such program could be found in mainstream news reports, editorials, or press releases, aside from those written by Scheidt himself. The $2.6 trillion figure mentioned in Scheidt’s claims contains a kernel of truth – it’s the amount American companies are estimated to have stored in overseas accounts to save on taxes, and the federal government has stated a desire to investigate these companies and tax them fairly – but this is nothing like the direct payment program that the pitch describes.
It’s not clear if the management of Agora Financial is supportive of Scheidt’s pitch, or if it is entirely his own work. The program is never mentioned on Agora’s website, but it is described in some of Scheidt’s articles published on the Daily Reckoning. Agora Financial’s management ought to investigate Scheidt’s pitch since it appears to be explicitly fraudulent and risks damaging the company’s reputation. Nonetheless, investors have nothing to risk by subscribing to Agora Financial’s free newsletters or social media pages, and some of the service’s paid subscriptions are still very reputable.
The old adage still holds true: ‘If it sounds too good to be true, it probably is’ isn’t”.
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