|♦ REFRESH to rotate MAAMAW'S CLICKY NOTES thru this space..... Timely Tips, Best of the Boards & More ♦|
Be sure to visit the Current Message Board when you're finished here.
We're very friendly, so don't be shy... just jump right in and post your question.
Scams outnumber legitimate biz ops about a bzillion to one, so it's well worth your time.
|| Return to Index | Read Prev Msg | Read Next Msg ||
FIB - Scams 101 - Ye Olde Archives
Posted By: Dennis Bevers <email@example.com>
Wednesday, 25 January 2006, at 9:47 p.m.
Yet another High-Yield Investment Program (Ponzi) has crashed, with investors losing millions of dollars.
According to local newspaper articles in the Lake Charles American Press, dated 24 & 25 January, some 1200 or more investors, including at least 400 from Louisiana, 270 from Texas, 238 in Minnesota, 63 in Idaho, and 41 in Georgia investor were sucked in. Do a Google search for Travis E Correll of Atlanta, dba Horizon Establishment, Neulan D. Midkiff of FOrest Lake, Minn. and his Joshua Tree Group, for more details.
In just over two years, Correll and his associates took-in over $153 Million from investors nationwide. (Of course, some victims will never be known unless Correll's company kept all the records that could be used to prosecute them.
The total take could be over $390 Million, with much of the total being used to pay the high interest payments to the early investors, as well as finders' fees, and commissions to investors who brought in others.
Depending on the amount invested and the length of the investments, the "operators" pais 4 to 12 percent in monthly interest or up to 48 to 144 percent in annual interest payments.
Investors were encouraged to re-invest their dividends/interest payments, or "Let it Ride".
At the time this Ponzi was shut-down and had it's holdings frozen and assets seized, the firm was paying out an average of 9% in monthly interest payments or nearly $14 Million dollars.
Many of the victims were led to invest by those who had already joined the Ponzi. The high interest payments plus commissions were used to induce investors to bring in others.
In the end, the new deposits, along with re-invested payments fell short of meeting the cashflow requirments to continue paying the promised interest.
If it sounds too good to be true, it almost always is. High Yield Interest Plans or HYIPs rarely work for the long haul as most are just variations of the original Ponzi, named for Charles or Carlos Ponzi.
My home-based bizopp alternative to HYIPs, Ponzis, and other scams
|| Return to Index | Read Prev Msg | Read Next Msg ||
FIB - Scams 101 - Ye Olde Archives is maintained with WebBBS 3.11.
| PLEASE READ THIS LEGAL NOTICE CAREFULLY BEFORE YOU FILE A LAWSUIT OR EVEN WASTE TIME THINKING ABOUT IT. It has been done before, but never successfully. In fact, the last dodobird who tried it ended up being ordered to pay more than $77,000 in attorney fees ($65,000+ to my attorneys and $12,000+ to my co-defendant's legal advisor).
If your attorney is worth his salt, he's going to tell you that the expense of filing a lawsuit you can't win is a whole lot worse than any "damages" resulting from messages posted on this insignificant little chunk of cyberspace.
NEWS FLASH: I didn't just climb down off that ol' turnip truck yesterday. I'm well aware that expressing a negative opinion, relating one's personal experience, and restating provable facts are all legal in this country and do not constitute libel, slander, or defamation -- so you don't want to play games with me, and you sure don't want to start something you aren't prepared to finish. I don't take threats lightly, and I don't accept bribes (or did you call it a "mutually-beneficial arrangement"?). I'll turn you in faster than you can yell, "ARREST ME, I'M SCUM!!"
Do yourself a favor and turn your legal team loose in greener pastures.
Although we may, from time to time, monitor or review discussions, postings and the like on the Friends In Business (Scams 101) Message Board, we are under no obligation to do so. We are not responsible or liable for any claim arising from the content of any such discussions or postings or for any error, defamation, libel, slander, omission, falsehood, obscenity, pornography, profanity, danger, or inaccuracy contained in any information contained within such locations on the Site.
You are prohibited from posting or transmitting any unlawful, threatening, libelous, defamatory, obscene, scandalous, inflammatory, pornographic, or profane materials or any material that could constitute or encourage conduct that would be considered a criminal offense, give rise to civil liability, or otherwise violate any law. You are likewise prohibited from posting any false claims against any company or individual. We will fully cooperate with any law enforcement authorities or court order requesting or directing us to disclose the identity of anyone posting any such information or materials.
By posting messages and/or content on the Friends In Business (Scams 101) Message Board, you give permission for Lesley Fountain/Friends In Business/Shoestring Success Publications to display, distribute and use the posting and content for publication, advertising, promotion, excerption or example. You grant Lesley Fountain/Friends In Business/Shoestring Success Publications complete, perpetual, but non-exclusive rights to use, archive, reproduce, adapt, modify, distribute, sub-license, repurpose, rework, compile, or offer for sale or resale the messages, postings or content appearing on this site in whole or in part, throughout the world and universe, on a royalty-free basis without remuneration. If you cannot accept or agree with the terms of service for this website and discussion board, you are advised not to post on this board.
In closing, I would like to remind you once again that it is still legal, in this great country of ours, to express a PERSONAL OPINION, as long as it is presented as opinion and not as fact.
And finally, all you scammers out there will do well to remember that TRUTH IS AN ABSOLUTE DEFENSE against charges of libel, defamation, and slander... so if you're operating just a hop, skip, and jump ahead of the law, you might want to think twice before doing anything stupid... (AND SHAME ON YOU!!).