In order to be an accredited angel investor, you either need to have a minimum salary (250K/yr?) or a minimum total net worth (1 MM?).
Question - what if you incorporate a company, and use that company to make investments? Would that be sufficient to bypass the restrictions?
I'm not necessarily recommending that anyone actually do this, I'm just curious whether it would be legal.
http://en.wikipedia.org/wiki/Accredited_investor
http://www.sec.gov/answers/accred.htm
If you want to incorporate a company in order to make such investments, then you're going to have to register with the SEC. The phrase that comes to mind immediately after "OMG! NO!" is "you'll be sorry!"
http://en.wikipedia.org/wiki/Investment_Company_Act_of_1940