SEC charges two in get-rich-quick scheme By Andrew Coen March 11, 2008 The Securities and Exchange Commission has filed civil fraud charges against two promoters who made millions selling a get-rich-quick stock trading system on television infomercials and at investor workshops in hotels across the country. Utah residents Linda Woolf and David Gengler were charged for running the scheme between 2003 and 2006. The SEC claims the two tricked customers into believing they would make millions in the stock market by purchasing âTeach Me to Tradeâ classes, mentoring and computer software. The promoters conned victims, many of whom were senior citizens, into paying as much as $40,000 for the products. The two lied about the efficacy of their trading system and had never themselves been successful investors, according to the SEC. Ms. Woolf reaped roughly $4 million in commissions and Mr. Gengler received approximately $2.25 million according to the Washington-base government agency. âThe Commissionâs charges should send a warning to all those who would masquerade as successful traders on TV while prowling the country for victims,â said SEC chairman Christopher Cox.