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SEC Halts Alleged $34M Ponzi Scheme - CBS News

Basically, this guy sell the promise of return of 8 to 10% on government bond to federal and law enforcement.

That is pretty ballsy.

The story I've requested is in another castle.

EDIT: seems to work now

Hmm. Wonder how many stairways he'll fall down on the way to booking, on the ground floor.

So...they've been doing this since 1988 and they JUST CAUGHT IT?!?

When did Kenneth Wayne McLeod die? Was this the only reason they caught them?

I've suddenly come up with an idea for my next job. All I will need is some investment capital from a few of you guys. I guarantee you'll get returns of 8-10 percent on your initial investment.

HalBucks are legal currency right?

Your money is in the mail.

Null said:

Hmm. Wonder how many stairways he'll fall down on the way to booking, on the ground floor.

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this is what I'm thinking. Of course going to prison would suck too especially if some of the staff may related to people who were in the scheme. It will be a hard life for the guy.

@dave: I know. that is some scary stuff

The dude who did this is dead. They are suing/charging the estate. Nobody is going to jail unless they were in on it.

I fucking love the concept of a ponzi/pyramid/matrix scheme. Dupe dipshits into working hard AND giving you their earned money. Brilliant!

Like being married.




BAM!!

Dave said:

Like being married.




BAM!!

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Dave said:

The dude who did this is dead. They are suing/charging the estate. Nobody is going to jail unless they were in on it.

Click to expand...

True, but like Enron, I'm sure the guy couldn't have acted alone.

Chibibar;405438][QUOTE=Dave said:

The dude who did this is dead. They are suing/charging the estate. Nobody is going to jail unless they were in on it.

Click to expand...

True, but like Enron, I'm sure the guy couldn't have acted alone.[/QUOTE]


That's actually the idea of a ponzi scheme: the lone folks at the top are the one's making all the money and pimpin' all da hoes.

Chazwozel;405442][QUOTE=Chibibar;405438][QUOTE=Dave said:

The dude who did this is dead. They are suing/charging the estate. Nobody is going to jail unless they were in on it.

Click to expand...

True, but like Enron, I'm sure the guy couldn't have acted alone.[/QUOTE]

That's actually the idea of a ponzi scheme: the lone folks at the top are the one's making all the money and pimpin' all da hoes.[/QUOTE]

I think you're thinking of a pyramid scheme.

Ponzi scheme is where you pay out the returns for early investors from the principal of later investors. Like social security.