If you want to read the story where the "founder" gets the money, then skips town and spends the money on hookers and booze, you need to talk to other folks than Ira Ritter:

http://www.amazon.com/Big-Story-Confidence-Man/dp/0385495382

The stories in The Big Con demonstrate convincingly that businessmen will, in fact, often just give you money if you ask them for it while wearing the right kind of suit.