Swimming With SharksInternet scams, money from mom and dad, tax-trimmers
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冲浪the Web for business financing yields thousands of sources:banks, brokers, consultants and venture capitalists, to name a few.While some names are immediately recognizable and radiateintegrity, most aren't--and don't. Yet the semblance ofsophistication combined with ease lure unsuspecting entrepreneursinto deals that often prove costly.
"Internet financing is fraught with scams," assertsMassoud Entekhabi, a partner in the PricewaterhouseCoopers GlobalTechnology Group in Woodland Hills, California. "A simplesearch produces numerous accounts of rip-offs. And the SEC[Securities and Exchange Commission] is taking an aggressive standto combat fraud on the Net." (See last month's"Money" column for more details.)
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