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Another twist on the old Ponzi scheme.

Another twist on the old Ponzi scheme.

Old May 9th 2013, 6:42 am
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Default Another twist on the old Ponzi scheme.

http://gulfnews.com/news/gulf/uae/cr...scam-1.1181130

I am continuously surprised by how, in this day and age of information, people still get duped into thinking they can make easy money.
6000 admitted investors! Whats the bet on the actual guy who started this managed to run away? It does say that the two owners were caught. I just feel sorry for the poor b*****s who invested their life savings. There is no such thing as easy money!
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Old May 9th 2013, 6:47 am
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Default Re: Another twist on the old Ponzi scheme.

Originally Posted by Irishbeekeeper View Post
people still get duped into thinking they can make easy money.
Greed. If it sounds too good to be true then it probably is.
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Old May 9th 2013, 8:17 am
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Default Re: Another twist on the old Ponzi scheme.

Originally Posted by mikewot View Post
Greed. If it sounds too good to be true then it probably is.
Exactly.

I have little sympathy for anyone who was plain greedy and didn't stop to ask how the money was invested, the risk, history, legalities and who was advising them.

Selling your wife's jewellery and raiding your children's college fund in order to make a quick buck? That's shabby.
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Old May 9th 2013, 12:54 pm
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Default Re: Another twist on the old Ponzi scheme.

what are the odds he had the kid doing the typing as well.
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Old May 9th 2013, 4:24 pm
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Default Re: Another twist on the old Ponzi scheme.

Originally Posted by mikewot View Post
Greed. If it sounds too good to be true then it probably is.
If it is, indeed, a scam, then the perpetrators are victims of the very greed they were relying on. Running it for over a year and just hoping they could continue...till when? Still, how much is enough?
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