Business Services Industry
Owners of Panorama City, Calif., Phone Card Business Investigated for Fraud.
Knight Ridder/Tribune Business News, June, 2001
By Evan Pondel, Daily News, Los Angeles Knight Ridder/Tribune Business News
Jun. 15--PANORAMA CITY, Calif.--When 54-year-old Paul Crespo first heard about La Luz De Oro, he thought "The Light of Gold" would lead him to prosperity.
How soon the glimmer fades.
Crespo invested $1,300 in what he thought was a legitimate business and said he ended up sucker-punched and disillusioned after losing every cent he poured into the company.
"I've tried to hire an attorney, but I can't afford it," said Crespo, who recently underwent a recent angioplasty and surgery.
"I just need to find someone to help me."
Another 570 people who believe they were defrauded are also looking for help.
La Luz de Oro -- a business...
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