Actually there is More than One Born Every Minute

[Gord_in_Toronto]

Investors say millions are missing and a businessman can't be found. How an alleged Ponzi scheme played out

https://www.cbc.ca/news/canada/toronto/businessman-accused-ponzi-scheme-1.6306466

Investors were promised returns of as much as 13 per cent a month on their investments.

No Red Flag for anyone?

Not even The Mob apparently.

Cohen also allegedly drew in individuals known to be involved with illegal gambling rings in Woodbridge, according to the source.

 

[shemp]

Looks like the Mounties don't always get their man. Especially if the Mafia gets to him first.

 

[Gord_in_Toronto]

Looks like the Mounties don't always get their man. Especially if the Mafia gets to him first.

Nobody has got him yet. It's hard to believe that anyone can disappear in this connected age. We'll see how long it takes.

 

[Suddenly]

No Red Flag for anyone?
.

For a lot of people this is an attraction. The best way to sucker someone in to a scam is to make them think they are in on the scam. They are also the perfect victims.

Crypto pump and dumps were like that. Get a lot of people in on it and say you will all buy up an small-cap alt-coin and sell once it gets to X, then the core group sells at like .8X, and all the other would be scammers are bag holders that will have a very hard time being sympathetic.

 

[Gord_in_Toronto]

For a lot of people this is an attraction. The best way to sucker someone in to a scam is to make them think they are in on the scam. They are also the perfect victims.

Crypto pump and dumps were like that. Get a lot of people in on it and say you will all buy up an small-cap alt-coin and sell once it gets to X, then the core group sells at like .8X, and all the other would be scammers are bag holders that will have a very hard time being sympathetic.

As i said, "There is more than one born every minute."

If someone offers me 13% a month, I would think, "Gotta be a scam". I might further think I should get in early and get out faster. But it seems I am always late to the game.

 

[autumn1971]

As i said, "There is more than one born every minute."

If someone offers me 13% a month, I would think, "Gotta be a scam". I might further think I should get in early and get out faster. But it seems I am always late to the game.

Generally you aren’t asked into the game until it’s too late

 

[Gord_in_Toronto]

Generally you aren’t asked into the game until it’s too late

The one time I was asked early was to invest in a big Canadian gold mining company (Bre-X*). My broker at the time pushed me really hard to buy and invested heavily himself. It turned out to be one of the biggest scams in Canadian scamming mining history (and there have been a few). If I had invested, I would probably have taken my original investment out when the stock doubled and then rode the rest down to zero.

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* All the sorry details here:
https://www.visualcapitalist.com/bre-x-scandal-history-timeline/