Ron Lieber of The New York Times examines the case of Jordan Goodman, a former Money magazine journalist who became a personal finance guru that promoted a Ponzi scheme to consumers.
Lieber writes, “As for Mr. Goodman, he owes $2.7 million to the S.E.C., and is named in two lawsuits that could put him on the hook for more.
“His business prospects aren’t exactly rosy. Kaplan Publishing, which oversees the Barron’s guide that Mr. Goodman co-wrote, is taking it out of print and incinerating the existing copies.
“‘We expect our authors to act ethically and lawfully,’ said Maureen McMahon, Kaplan’s president and publisher.
“One of Mr. Goodman’s more mainstream affiliates, the online loan marketplace Credible, has cut ties with him. So has Cambridge Credit Counseling, a nonprofit debt consolidation and financial counseling service.
“‘Our reputation is more important to us than a small relationship we have with a particular expert,’ said the company’s chief executive, Christopher Viale.”
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