Stock Scams: Caveat Entrepreneur

The latest frauds prey on new, nonpublic outfits

For Nick Morf, it was the classic entrepreneur's dilemma: a great big idea and very little money. An avid venturer from Lighthouse Point, Fla., Morf had developed a CD-ROM database enabling actors to hook up with talent agencies and studios. But his fledgling company, Global Talent Guild (GTG), had consumed $500,000, much of his savings.

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