About 10 years before this one, there was a similar fraud, National Student Marketing Corporation, that was similarly successful based on a similar foundation.

About 10 years before this one, there was a similar fraud, National Student Marketing Corporation, that was similarly successful based on a similar foundation. My recollection is that it also attributed its (temporary) success partly to rapid growth of a cleaning service (for offices) business. That one was somewhat overshadowed in the business fraud section of the papers by the coincidental bursting billion-dollar bubble around the same time of an equally fraudulent NYSE-listed go-go financial services firm that had similarly been acquiring companies hoping that the acquisitions would somehow allow them to unwind their Ponzi operation.