Timeshare Exit Team has a well-documented history of defrauding owners, which has landed it in the crosshairs of Washington's attorney general. But despite its checkered past and an active state investigation, the company has remained on financial guru Dave Ramsey's recommended list of "most ethical" companies for three years.

Investment News Senior Columnist Bruce Kelly took notice in his latest weekly column, titled "Time for Dave Ramsey to check out of this timeshare exit endorsement."

In his reporting, Kelly shares that handsome referral fees are likely the culprit. Ramsey continues to endorse a company that is under investigation for fraud.

Unfortunately, Kelly's attempts to give Ramsey a chance to explain himself were ignored. Read the entire story here.