Man accused in social media of fraud, seeks $1 billion damages

[kinggyppo]

Quote from syswizard:

No, no, no Surf. This is the new standard - no freedom of speech in America. All of the SEC statements were true. The bad guys always sue whenever something is written about them...regardless of whether it is false or true.
This is a well-known pattern of fraud.
PA state senator Vince Fumo aka Vince "Sue-Mo"...sued everyone who said or wrote anything against him.
He's now in jail for 5 years....after the feds, in an exhaustively thorough investigation found that all of the allegations against him were true and then some.

thats how they got Al Capone tax fraud, you really don't want the whole US govt coming after you. I know a guy who had someone else claim them on a capital gain, long story short 3-5 years later and endless court fees, acct fees, etc. and being harangued by the IRS, it was straightened out. This dude was extremely stressed out to say the least, cost him around 20K in fees to prove his name.

 

[syswizard]

Quote from kinggyppo:

thats how they got Al Capone tax fraud, you really don't want the whole US govt coming after you.

You bet. The bad guys need to settle before that starts to happen. Once it starts, it cannot be stopped.

 

[nkhoi]

Quote from marketsurfer:

... He is representing himself. ....

nobody would take his case but the chance is one to billion he wins.

 

[atticus]

It will be thrown out. Guy didn't have a checking account, but somehow had a B/D and $400MM in AUM. Guaranteed that he was going to fleece someone.

 

[marketsurfer]

Quote from atticus:

It will be thrown out. Guy didn't have a checking account, but somehow had a B/D and $400MM in AUM. Guaranteed that he was going to fleece someone.

He may end up in prison, this was his game as far as I can tell

http://www.treasurydirect.gov/instit/statreg/fraud/fraud_primebank.htm

http://www.treasurydirect.gov/instit/statreg/fraud/fraud_prime1.pdf

this is really funny stuff, when i was just out of college, I knew a guy who was peddling this crap-- truly bizzare its been around so long

 

[atticus]

Treasury securities.... offering 7.5% yields!

 

[sumfuka]

Fined for $150,000.00! He better start learning spanish and start practicing jumping over borders.

 

[syswizard]

Quote from marketsurfer:

He may end up in prison, this was his game as far as I can tell

No doubt about it. He filed the lawsuit to make himself look like "big bad Uncle Sam" was going after him unjustly....
when in fact, it was quite the opposite:
He was committing fraud against American citizens.

 

[small_beer]

Quote from syswizard:

No, no, no Surf. This is the new standard - no freedom of speech in America.

It's still fine on this forum compared to some others.

BTW, freedom of speech has limitations, almost all freedoms do, that's why you have libel laws.