SEC charges insurance agent with $1.27 million Ponzi scheme

[dealmaker]

SEC charges insurance agent with $1.27 million Ponzi scheme

The Securities and Exchange Commission has charged James Hocker, a Bellefonte, Penn., insurance agent, with engaging in a Ponzi scheme that targeted unsophisticated retail investors. (Investment News)

 

[truetype]

"Guaranteed returns of between 10% and 30% from investments he would make on their behalf" -- heck, that's very modest performance by ET standards!

 

[murray t turtle]

SEC charges insurance agent with $1.27 million Ponzi scheme

The Securities and Exchange Commission has charged James Hocker, a Bellefonte, Penn., insurance agent, with engaging in a Ponzi scheme that targeted unsophisticated retail investors. (Investment News)

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Between SEC + market forces; its always payday someday. Time can vary.

 

[SabreMan]

"Guaranteed returns of between 10% and 30% from investments he would make on their behalf" -- heck, that's very modest performance by ET standards!

That is because us Elite Traders generate highly leveraged day trading profits.

$500 to control $140,000 notional

300:1 leverage means at least 300% a year profits

 

[Jack1960]

30% is peanuts for elite traders.

 

[Scataphagos]

30% is peanuts for elite traders.

For "elite traders", true. If only it were true for Elete Traders traders.

 

[mlawson71]

The thing is, 10% is low enough for a layman to believe this is not a Ponzi scheme...