'Hobo Prince' under fraud investigation

'Hobo Prince' under fraud investigation

PORTLAND, Ore. – A local man known as the “Hobo Prince,” who promised to give his followers thousands of dollars for a small fee, is under investigation by the Oregon Attorney General’s Office.

KATU News first told you about Shelby Bell and his “Hobo Prince Economic Project” last fall. He claims for $25 he’ll pay you $900 per week for seven years.

But is he really paying up?

An investigation by the KATU Problem Solvers found no evidence that Bell has paid the money he promised.

The last time we tried to ask Bell where all that money is coming from he said he would answer that question later, but he never did.

When the Problem Solvers showed up to a recent seminar by Bell with a warning letter from the Oregon Attorney General’s Office, Bell refused to comment.

The letter claims Bell is running an illegal pyramid scheme and he needs to stop.

Bell is also under investigation by the Washington Insurance Commissioner, which is looking at claims that Bell is paying people with an insurance deal.

If you signed up for the “Hobo Prince Economic Project,” Oregon’s Division of Finance and Corporate Securities would like to hear from you.

File a complaint online

Contact Oregon’s Division of Finance and Corporate Securities