Quote:
Originally Posted by 1stLand
Yah, don't invest in anything that has a million dollar marketing budget just to attract new investors.
That's probably another good guideline.
What makes me mad is that the media legitimizes these ponzi / fraud schemes by doing opinion pieces on them or allowing them to advertise on primetime television (ie: Concrete Equities was the Dragon's Den sponsor).
The Calgary Herald wrote an article in 2008 about the Lucid Figurehead and how he was a 23 'whiz kid' in real estate.
A potential investor would read that article and think that his whole operation would be legitimate.
At the end of the day, these investment fraud schemes sicken me, and the people behind them sicken me more. There is no honor in stealing people's life savings by deceiving and defrauding them.
I have more respect for drug dealers.
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The bolded part grinds my gears too, the Herald had Vinnie "Concrete Equities" De Palma as one of their "Business People of the Year" shortly before that whole house of cards came tumbling down.