Friday, September 10, 2010

Candwich, Anyone?

What's more gross: Mass-manufactured sandwiches stuffed inside a soda can, or (allegedly) scamming investors into pouring money into the development of the "Candwich"? (Or the Tapeworm Diet?)

Let's ask money manager -- and Candwich backer -- Travis Wright. According to the New York Times, even if the Candwich hits it big, "investors in Utah who put $145 million in the hands of a money manager named Travis L. Wright will still have thinner wallets."
A lawsuit by the federal Securities and Exchange Commission says that Mr. Wright promised returns of up to 24 percent on real estate investments, but that he put the money instead into Candwich development and other equally untried ideas. Along with sales of canned sandwiches -- Pepperoni Pizza Pocket and French Toast in a can were planned -- Mr. Wright’s companies, under the banner of Waterford Funding, also invested in a company selling rose petals printed with greeting card sentiments and another selling watches over the Internet.
Happily (or not), it may not be accurate to categorize the Candwich as an "untried idea" anymore: