Mark Conway "professional stock Trading" Sentenced to 7 Years in jail

Quote from atticus:

I hope you have some funds left, PTR.

atticus/riskarb
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what would it matter if he had funds left? he clearly could not trade. cover up losses for years, while continuing to suck in sucka's with amazing deceits..lol
funds for trading would be a waste.

if anything, he has edge in setting up new ventures that he may be able to earn off of until they go bust.

edit: yep, new scam is in works per his blogs...go get those suckers mark!!
 
Quote from Pekelo:

There is nothing new under the Sun. I bet there are at least 5 ponzis running right now and there will be plenty of forging and faking coming out the next 5 years too.

Mark my word... I do watch CNBC's Greed, so I am an expert. :)

I googled "broker indicted" and this was just 3 months ago:

http://www.stocklaw.com/Securities-...Hills-Stockbroker-Andrew-Baum-Indicted-o.aspx

If you google "trader indicted" you get a january news:

http://dealbook.nytimes.com/2013/01/28/ex-trader-for-jefferies-is-charged-with-fraud/
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Well, truth is, you are right Pekelo.

I would have been more accurate to say its not near as easy as it once was, pre-madoff--- but certainly fraud will always be with us in one form or another. surf
 
Quote from bwolinsky:

This thread makes me sick.

I see posting to the statements I have is nothing but a con game to some people.

Well I'm not a con game, and I think that this thread ought to be deleted.

The premise is simple: forge documentation of stellar performance, ask for money. Anybody with paper or word doc can do that and whether the entire world believes it or not I hope the trust I had in others would stop what has happened to me and it didn't.
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what happened
 
Quote from Pekelo:

There is nothing new under the Sun. I bet there are at least 5 ponzis running right now and there will be plenty of forging and faking coming out the next 5 years too.

Mark my word... I do watch CNBC's Greed, so I am an expert. :)

I googled "broker indicted" and this was just 3 months ago:

http://www.stocklaw.com/Securities-...Hills-Stockbroker-Andrew-Baum-Indicted-o.aspx

If you google "trader indicted" you get a january news:

http://dealbook.nytimes.com/2013/01/28/ex-trader-for-jefferies-is-charged-with-fraud/
More...

So long as people imagine they can be getting unrealistic gains, there will be con men who will reward them with the dreams of grandeur.
 
Quote from ammo:

did the warden set up an acct and let you trade it?
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Listen, I understand there is no defense for this kind of thing. In retrospect it was a selfish and stupid thing to do. The only reason I got seven years was because the investors got 82% of their initial capital back, and yes it was a Ponzi because [we] were raising funds to dig ourselves out of the hole. I had been diagnosed with a brain tumor, and at that delusional point when I made the fateful decision, the fund was the only thing I had. The prosecutor wanted 15 years, but for the extenuating circumstances.

I did everything that I could to make things right [why else did I buy all those damn books and courses? I was desperate]. The judge vetted that I did not live lavishly; I had the same car and apartment for five years, while taking maybe two weeks off that whole time. I made $55,000 per year lol.

My business partner got no time whatsoever because I took the full hit. Why should both of us go down? After I told him my decision, my partner never returned letters or phone calls after that. Why? Because he turned rat. Not only that, he and the SEC conspired on a lie that he confronted me [to avoid civil liability], when in fact I came forward because of an upcoming audit, and it was impossible to make the numbers. Now, he makes over 500K a year for a sports sunglasses company, Skullfriggincandy or something like that. How's that for gratitude?

To answer your question, the Warden did not allow trading, in fact any time someone placed a trade over the phone they were hauled down to SIS (internal security) and grilled for "operating a business". Improving oneself was frowned upon -- we were there to be punished, even though six years away in and of itself is no cakewalk.

But I will tell you this... in that brief period of time, I cannot believe how soft people have gotten, maybe because of the time I did. Is it me, or has this country become a bunch of whining whistleblowers? One day, the keyboard cowboys who take electronic potshots will look up from their tablets and discover reality. I remember one particular night sitting outside my cell reading. Next door, all I could hear was "Stop it, you're killing me" over and over again. None of my business, and I hope you never have to hear anything like that in your life.

Regards,

PTR
 
Quote from nkhoi:

you forgot to ask what if question. What if Gilder wants to unload some dogs himself?
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I missed this post. Excellent point. He was probably on to me. Later on, they scrambled the URL format.
 
Quote from sellindexvol66:

what would it matter if he had funds left? he clearly could not trade. cover up losses for years, while continuing to suck in sucka's with amazing deceits..lol
funds for trading would be a waste.

if anything, he has edge in setting up new ventures that he may be able to earn off of until they go bust.

edit: yep, new scam is in works per his blogs...go get those suckers mark!!
More...

Nothing I can say there until proven otherwise. I've got seven years of research, and it may be worth shit. It is tough going, and deservedly so. But boy, if they ever give you that kind of time, and you can handle the other shit, it is a blessing to hole up in the library and just do pure research.
 
Quote from satchel:

You are a great writer, at least write more on your blog or maybe a new book.
Thanks.
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Thank you. Getting my stuff out of there on my last day is a story in and of itself. So, you have to go to the mail room and get a property form, which is vetted inside and out. But in order to ship stuff out, you have to buy a box from the commissary.

Well, the commissary was always out of boxes. You go to the commissary once per week. They were out of boxes seven (7) weeks in a row, so nothing could be shipped out. Well, finally my cellie comes back one week and got a box. So, he ships his stuff out from the mail room. The very next day, a guy gets killed in front of our unit, and we are looking out the door at the scene from inside, all captured on videotape.

A week later, we have mail call around 4:30 pm. My cellie gets all of his Food Network magazines back because the mailing labels were still on the magazines. Everything else he shipped out was lost forever because they had torn his box apart after it had been sealed, thinking that he might have included incriminating evidence regarding the killing.

So, here I have this shit in my locker, about fifty pounds of research accumulated over five years. No way was I shipping it out now. Unfortunately, I had to dump a whole year's worth because it included football (gambling) stats, which is verboten, and I got a visit from SIS because another inmate befriended me and wanted help with his picks (yet another rat). Mind you, this material had survived hundreds of shakedowns because the guards were more interested in shanks, booze, and drugs. And the inmates were interested in what you hauled back from commissary, e.g., new sneakers or headphones. Nobody gave a shit about the paper, unless it was a betting ticket.

My last day, thank the Lord, was June 11th. I stuffed everything into my commissary bag and hoped for the best. Stripped out for the last time, and then it came time to transfer everything into a canvas duffle bag. What did they do? Easy, it was too much shit to go through, and so I staggered out of there intact to greet my family, 2025 days since I walked in that door.

Thank you for the kind words.

Mark
 
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