Former Escort Madam Busted For Screwing Investors

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Former Hollywood, California madam, Michelle Braun was just arrested and charged with operating a boiler room in Florida to sell a stock fraud product to consumers.

The Sun Sentinel says Braun is still on three years probation for her high-class California prostitution ring and relocated to Florida for a fresh start.

It is alleged Braun and eight others marketed nonexistent securities in an alternative energy company between March 2009 and July 2009, taking in $402,000 from investors, the affidavit says. Braun and another executive of Sterling Capital met with an executive of the energy company and offered to sell shares to raise capital, the affidavit says.

The energy company did not go forward with the proposal, but Sterling Capital went ahead and marketed the shares regardless; after investors bought shares, they never received their stock certificates, according to the affidavit. – Source

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