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Old 03-27-2012, 12:00 AM   #1
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Default Calgarians involved in 52 million ponzi scheme

http://ca.news.yahoo.com/two-calgary...210259267.html
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Old 03-27-2012, 10:47 AM   #2
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Hard to feel sorry for people who think 18-22% return is not fishy.
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Old 03-27-2012, 11:02 AM   #3
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Frack people are stupid.

Hey Calgarypuck members, if you each give me $10.00 today, I can promise you a 15% return on investment within the first 30 days.

I'm not going to tell you what I'm investing in or what my investment model is, but the returns which are created through the Captain's trademarked chemical process first built in my basement are incredible.

Oh now please look at his shiny bauble.
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Old 03-27-2012, 11:05 AM   #4
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^^^ Some people aren't as intelligent and knowlegable as you are sometimes, Cap
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Old 03-27-2012, 11:10 AM   #5
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^^^ Some people aren't as intelligent and knowlegable as you are sometimes, Cap
Ouch! I don't know which side you are insulting there!
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Old 03-27-2012, 11:17 AM   #6
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Hard to feel sorry for people who think 18-22% return is not fishy.
Hell with my luck lately I think a 1.8 - 2.2% return is fishy.
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Old 03-27-2012, 11:18 AM   #7
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Originally Posted by CaptainCrunch View Post
Frack people are stupid.

Hey Calgarypuck members, if you each give me $10.00 today, I can promise you a 15% return on investment within the first 30 days.

I'm not going to tell you what I'm investing in or what my investment model is, but the returns which are created through the Captain's trademarked chemical process first built in my basement are incredible.

Oh now please look at his shiny bauble.
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Old 03-27-2012, 11:21 AM   #8
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Originally Posted by CaptainCrunch View Post
Frack people are stupid.

Hey Calgarypuck members, if you each give me $10.00 today, I can promise you a 15% return on investment within the first 30 days.

I'm not going to tell you what I'm investing in or what my investment model is, but the returns which are created through the Captain's trademarked chemical process first built in my basement are incredible.

Oh now please look at his shiny bauble.

Where can I send my money? If you can deliver on the ROI, then I'll invest MORE and recommend you to my friends!
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Old 03-27-2012, 11:26 AM   #9
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Now this might be a dumb question. What if you were involved as dumped investor in a ponzi scheme, but withdrew your investment (and got it) before the whole thing went belly up. A major rarity for a lot of reasons I know, but possible in some of the larger schemes, especially if your investment is small in comparison.

Could you be implicated? Do you have to return the extra cash? Or do you get to keep your ill gotten gains?
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Old 03-27-2012, 11:52 AM   #10
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Now this might be a dumb question. What if you were involved as dumped investor in a ponzi scheme, but withdrew your investment (and got it) before the whole thing went belly up. A major rarity for a lot of reasons I know, but possible in some of the larger schemes, especially if your investment is small in comparison.

Could you be implicated? Do you have to return the extra cash? Or do you get to keep your ill gotten gains?
From my understanding you'd be in the clear unless the reasoning around pulling out your money is that you were aware that it was illegal and you didn't report it.

But from everything I've read these operators will do everything to prevent you from withdrawing your funds, right up to appealing to your greed and adding a guaranteed higher percentage point.
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Old 03-27-2012, 11:55 AM   #11
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Originally Posted by AMG_G View Post
Hard to feel sorry for people who think 18-22% return is not fishy.
i do feel sorry for the Madoff investors because his returns were reasonable. Around the 10% mark, plus his background with the Nasdaq.

18-22% with little to no risk...... Yeah i can give that to you! PM me for paypal details!
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Old 03-27-2012, 12:14 PM   #12
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From my understanding you'd be in the clear unless the reasoning around pulling out your money is that you were aware that it was illegal and you didn't report it.

But from everything I've read these operators will do everything to prevent you from withdrawing your funds, right up to appealing to your greed and adding a guaranteed higher percentage point.
Profiting from a Ponzi actually isn't that unusual.

You just don't want to be the last guy holding the bag.

Madoff's ponzi went on a staggering amount of time. Those who profited, I believe, are now being compelled by regulators through courts to surrender their profits. Owners of the New York Mets are one such scenario if I'm not mistaken. The surrendered profits will be used to make others whole - or more whole than they are now.

Madoff's ponzi was interesting because it didn't necessarily promise the big strike . . . . he was saying he was making 1% or so a month, which didn't sound compeletely crazy.

He was selling consistency and through almost 20 years, appeared to deliver.

Fear and greed are the primary drivers of markets. Emotions carry people away, particularly on the greed side.

No sympathy.

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Old 03-27-2012, 12:41 PM   #13
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Profiting from a Ponzi actually isn't that unusual.

You just don't want to be the last guy holding the bag.

Madoff's ponzi went on a staggering amount of time. Those who profited, I believe, are now being compelled by regulators through courts to surrender their profits. Owners of the New York Mets are one such scenario if I'm not mistaken. The surrendered profits will be used to make others whole - or more whole than they are now.

Madoff's ponzi was interesting because it didn't necessarily promise the big strike . . . . he was saying he was making 1% or so a month, which didn't sound compeletely crazy.

He was selling consistency and through almost 20 years, appeared to deliver.

Fear and greed are the primary drivers of markets. Emotions carry people away, particularly on the greed side.

No sympathy.

Cowperson
Exactly! See how many people bail on their investments when the markets trends down. Don't they understand if they sell it realizes their losses. A lot of these people who dumped all their investments in 2008 would've made it all back + some more by now....totally irrational people. Yet these are the same people who have no issues getting a 500k+ mortgage.
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Old 03-27-2012, 12:56 PM   #14
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where were the regulators when all of these promises were being made?
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Old 03-27-2012, 05:04 PM   #15
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where were the regulators when all of these promises were being made?
If I am going to give someone tens of thousands of dollars I am going to do my own due diligence.
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Old 03-27-2012, 06:00 PM   #16
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Originally Posted by Cowperson View Post
Profiting from a Ponzi actually isn't that unusual.

You just don't want to be the last guy holding the bag.

Madoff's ponzi went on a staggering amount of time. Those who profited, I believe, are now being compelled by regulators through courts to surrender their profits. Owners of the New York Mets are one such scenario if I'm not mistaken. The surrendered profits will be used to make others whole - or more whole than they are now.

Madoff's ponzi was interesting because it didn't necessarily promise the big strike . . . . he was saying he was making 1% or so a month, which didn't sound compeletely crazy.

He was selling consistency and through almost 20 years, appeared to deliver.

Fear and greed are the primary drivers of markets. Emotions carry people away, particularly on the greed side.

No sympathy.

Cowperson
It wasn't just interesting it was genuis, no way did he pull in his investors otherwise.
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Old 03-27-2012, 09:50 PM   #17
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If I am going to give someone tens of thousands of dollars I am going to do my own due diligence.
i don't disagree with you personally...but it seems to me that many people didn't or they had an expectation of security of some sort; misplaced i should add.

i just wish that the regulators would be in front of these things...not behind cleaning up with wrist slaps all around.
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Old 03-27-2012, 09:51 PM   #18
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The ASC probably has like 2 people to look at this.
i just wish the ASC would be able to get in front of ridiculous promises of returns instead of at the back when the loot is gone.
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Old 03-28-2012, 12:07 AM   #19
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If I am going to give someone tens of thousands of dollars I am going to do my own due diligence.
You will get a wholly profesional looking prospectus, there will be some very impressive stories planted in appropriate news letters and the like
They will make it clear they are involved in investments in blue chip companies but that due to their black box or something they have a slight edge, it will be wholly believable and will stand up to due dilligence, it will all be lieing bull#### but it will be very good believable lieing bull####.
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Old 03-28-2012, 12:14 AM   #20
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i just wish the ASC would be able to get in front of ridiculous promises of returns instead of at the back when the loot is gone.
It's hard for the ASC to get in front when these things are going on secretly. One person tells their friend, who tells another friend, who tells another friend etc...

And it's not a scam from the get go.. I'm sure it was legit and there were returns at first and it's good so one person tells another person.....then they get you.

My parents were in an investment once. They invested in an apartment building and doubled their money. Second apartment building, the guy took off. So they broke even, but others weren't so lucky.

I know the ASC does seminars and does prevention type education.

Check out this company.
http://www.bluehedge.ca/
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