As they specifically state that they dont invest money in virtually all the things that give a return on investments (yes, I do know that there are others apart from thos elisted), they are excluding themselves from a large section of the market.
The risks of a Ponzi, from the investors viewpoint, are two.
1, if the company promoting it fails (prhaps I should say "when") then liquidator and Court can claim all funds that have been paid to each and every investor, and add it to a fund to repay everyone. After the fees etc have ben paid.
2, if there is criminal case against the promotors, the usual terms of a plea bargain are that all investors details are given to the IRS.
They then will ave a field day with an Americans, and pass details to the respective Governments of any non-US citizens.
* Ponzi. Named after Charles Ponzi who, in the 1920's, devised a scheme where inestments are used to pay "profits" to prior investors.
In fact, there is usually no actual investment, and certainly none that can make the amounts that the promotors claim.
It works, as long as sufficient new investors join. _________________ The Middle Eastern states aren't nations; they're quarrels with borders.- P. J. O'Rourke
Of the 11 companies listed, one is in New Zealand, most of the rest in Malayisia.
The main one is registered in Panama.
# 8, PIPS premier Inc, Australai. Ther eis no such company or organisation registered in OZ, that I can find. Also, Aus companies have Pty Ltd or Limited, not Inc which is reserved for Non profit making organisations, and rarely used.
They state that they have applied for SEC approval, and yet they are not American, so why would they, or can they, do that?
They claim they are not investing "your" money, and that what you send (if you are foolish enough) is actually a loan to them.
In other words, they claim the structure is just a mutual fund.
In my view, spliting hairs.
What they dont say is what they are doing with the money to make such returns.
Yes, there are certian ways of making large sums, but this aint it !
As for the US Govt, SEC, etc, if any American is involved, or invests, the US authorities take a view that it comes within their ambit.
Not long ago 2 guys were extraditied from the UK to the US, when the scam they were running in the UK attracted some US investors, who then lost their money.
Right now they are having a holiday in Club Fed. _________________ The Middle Eastern states aren't nations; they're quarrels with borders.- P. J. O'Rourke
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
Album
FAQ
Quizzes
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
