Investors can be a real pain in the ass. You can present them with a genius plan, one that will make them tons of money, and just because it's a little left-of-center and no one's ever really done it before, they get all nervous, like, "Oh, this is my life savings, I don't know if I want to sink it into something so weird and risky. How about if you put my money somewhere safe, like bonds, or real estate?" It rankles, especially when, deep inside, you know you are a visionary genius and that your plan could make your investors billions if only they'd loosen the purse strings a little bit. And if you believe this, like Utah money manager Travis Wright, who sank $145 million of his investors' money into backing the Candwich, the first-ever sandwich in a can, you do what you have to do.
Unfortunately, you might get nabbed by the SEC right before your product takes off in the way that you are certain it is destined to do:
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.
But those were good ideas. Just wait!