While talking about financial gurus, the name of Wade Cook is worth mentioning who
made millions of dollars simply by selling investment tips and approaches to investors. His program was
composed of seminars and books which according to him taught people how to double their money every few
months. Cook is author to many famous books on the topic of financial assistance, including Real Estate Money Machine, Blueprints for Success, Wealth 101, and Stock Market Money Machine. The man has been involved in some unlawful acts, such as selling
unregistered shares of a company and also got 88 months federal prison sentence for involvement in income tax
dodging and some other tax-related charges.
The seminars conducted by Wade Cook were designed to teach individuals how to be successful traders in the stock
markets. Unfortunately Wade Cook Financial Corporation (WCFC) is no longer available to assist investors on the
road to riches. The company has been taken over by Profit Strategies that offers trading education and money
management strategies through different courses and products. Cook and his wife have also been alleged to have
violated the first court order. In 2002 WCFC went bankrupt and since then he had been using internet marketing and
advertising as his main source of income until he was taken into custody in 2008.
Cook has also started a multi-level marketing (MLM) program to attract people who want to start their own
home-based business. In 2007 Cook was sentenced to 88 months in prison for not paying taxes on $8.9 million. He was
also ordered to pay $3.75 million in owed back taxes. It is known that WCFC used over 500 employees and earned
about $118 million annually from their online programs consisting of seminars, books and tapes. The couple once had
a net worth of $200 million in their possession. The main charge against Wade Cook was evasion of income tax,
because of which he now has to face the 88 months long prison sentence.
Although finding home-based business opportunities is a good way to step into a money-making program, you should
also keep an open eye around to avoid frauds and traps. On the internet you have no way of telling whether a person
or a company is in fact operating legally or that they would not rip you off. So, before buying a training program
or becoming a member of a marketing network, make sure you have done enough research on their credibility and
reputation in order to avoid trouble in the future.
Wade Cook might have a lot of good financial tips and strategies to offer, but his
idea of evading taxes and continuing on the wrong path is simply not acceptable. If you are looking for
financial advice, there are hundreds of reliable sources available out there. If you want to invest in real
estate and make solid money, then find a mentor who will guide you along the way. Remember, there are no
short-cuts to success and if you really want to be successful, you will have to work hard.
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