Twitter Ponzi

TraDaToR said:
Seriously what do these people think when they take investor's money to pay for their vacation in St Lucia? Do they really think it will last a long time before they get caught? ...Oh well, it worked for 20 years with Madoff and he became chairman of NASDAQ in the meantime...

http://www.zerohedge.com/news/2017-...er-arrested-stealing-15-million-running-ponzi

PS: Look how nice he looks...
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better yet,how can you resist giving your money to Faster Than Light Trading
  • Managing Director
    Faster Than Light Trading LLC
    September 2015 – Present (1 year 7 months)
https://www.linkedin.com/in/randy-rye-24020b58
 
algofy said:
Amazing how many scammers out there. There should be a special place in hell.......
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the worst scammers are the beneficiaries of crony capitalism.

e.g. bank bailouts etc.
 
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algofy said:
Nothing worse than a conman ripping off ordinary folks
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Actually, I think its even worse when done on a grand scale by those on the inside, the big fish that nobody can fry. Perfect examples are Cohen from SAC, and also the countless firms that spoof. When that Navinder guy does it from his basement, its jail time, and when a huge fund does it, nothing happens.

I much rather get scammed by a fellow guy who is smarter than me, rather than a big wig who has all the immunity in the world. At least when scammed by the little guy, I can learn where I went wrong. When scammed by a big wig, all I learn is how the world will never be fair.
 
Gotcha said:
Actually, I think its even worse when done on a grand scale by those on the inside, the big fish that nobody can fry. Perfect examples are Cohen from SAC, and also the countless firms that spoof. When that Navinder guy does it from his basement, its jail time, and when a huge fund does it, nothing happens.

I much rather get scammed by a fellow guy who is smarter than me, rather than a big wig who has all the immunity in the world. At least when scammed by the little guy, I can learn where I went wrong. When scammed by a big wig, all I learn is how the world will never be fair.
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1.5M is nothing and can be considered as small crime in the financial world. That's why he is convicted cuz he can't hire good lawyer. When scamming big time always keep in mind to put away some money for somebody that will protect you in court.
 
Gotcha said:
Actually, I think its even worse when done on a grand scale by those on the inside, the big fish that nobody can fry. Perfect examples are Cohen from SAC, and also the countless firms that spoof. When that Navinder guy does it from his basement, its jail time, and when a huge fund does it, nothing happens.

I much rather get scammed by a fellow guy who is smarter than me, rather than a big wig who has all the immunity in the world. At least when scammed by the little guy, I can learn where I went wrong. When scammed by a big wig, all I learn is how the world will never be fair.
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If you ask me, they are all terrible people. Their purpose is to get rich on somebody else's back and they don't care who suffers while they do it.
 
mlawson71 said:
If you ask me, they are all terrible people.
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You're saying it because you are not one of them. Everyone hates robber barons until they get a chance to become one. It's especially true in such a gray area as finance where various actions go from OK to crime based on some obscure decision or rule.
 
TraDaToR said:
Seriously what do these people think when they take investor's money to pay for their vacation in St Lucia? Do they really think it will last a long time before they get caught?
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It seems all these Ponzi guys believe their own hype. They think they'll be able to make money eventually and when they do, then they will square everything up behind the scenes and no one will be the wiser. Like the old saying goes, tell a lie enough times and you may actually start to believe it. It's nuts and totally delusional.

In some ways it's not that different from what I've seen among washed out retail and prop traders. They don't have clients to defraud but they go through similar thought processes on the road to ruin. For example many guys will trade family savings, lose money, yet tell the wife (or parents or whoever he borrowed from) that he's profitable in order to buy himself more time to recover the losses. But instead keeps on losing and eventually has to tell the truth that it's all gone. Scary stuff and truly devastating for all involved.
 
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