Never invest on the word of a good friend or well-regarded person (in politics, media, business) without getting a second opinion from an independent professional who has no stake in the proposal - be it a fee or being involved in the investment in any form or shape.
San Diego Magnate Masterminded $400 Million Liquor License Scam
and another Scam, this one 'only' for $18.5 Million:
Private Investigator Tech Startup Charged in $18.5 Million Fraud
this one is 'only' for $25 Million:
Cryptocurrency Firm Co-Founder Pleads Guilty to Coin Offering Fraud
and another $60 Million changed hands:
Investment Adviser CIO Charged with Running Ponzi-Like Scheme