Apologies if this has already been posted. Saw it on an episode of American Greed, recently. Old geezer named Ron Wilson ran a huge silver Ponzi scheme with disastrous results for many of his clients. Surprising how many years he kept the scam going. https://www.independentmail.com/news/2012/jul/30/ron-wilson-pleads-guilty-sc-ponzi-scheme-case/
^^^^ Ponzi schemes tend to give a little back as the investments rush in. I guess the trick is to start late in life and die before you're caught out. However, I often wonder if the energy and the salesmanship that goes into these schemes would be better served running a legitimate business?
Good point. Here is a small snippet of the ep, one poor old fella tells of how he lost his future retirement savings. http://www.youtube.com/watch?v=Mu_s5TmnJs8
That's one evil guy. "His sentencing hearing has not been scheduled, and officials said they do not expect it to happen for weeks or months. Wilson will remain free on bond for now. Prosecutors have said Wilson has been especially cooperative since charges were announced, and the plea agreement includes recommendations from prosecutors for a "downward departure" in his sentencing. "Mr. Wilson has demonstrated his responsibility as of today," assistant U.S. Attorney Bill Watkins told the judge." Where's the justice for the people who were robbed of $60 million collectively? The max he could get is 10 years but I'll bet gets no more than 18 months. People have gotten that much jail time in some jurisdictions for little more than smoking a joint. .
"Surprising how many years he kept the scam going." Not really. "The more we do to you, the less you seem to believe we are doing it." Joseph Mengele. The longer a scam goes on, the less likely it is to be found out. Once things get so big - people just won't look at it --------------------- it's called 'elephants in a room' -------------- US debt, US dollar, bonds, manipulation, unjust wars -------------- you name it ------------------------ look at some of the things wikileaks exposed. look at some of the goings on in our stock markets and corporations ------------------- massive things - but, they don't get into trouble. Most of our history is built on smoke and mirrors --------------- people just want to get on with their lives with as little disruption as possible. Most Kingdom's were built on scams and scamming - often at the point of a sword, but scam never the less. Look at the salaries of our executives and consultants -------------------- then look at the performance. There is the occasional bird who is worth 7 figures a year ------------ but, they are rare ------------- most of them are also rans who are just in the right club. I know quite a few - almost all couldn't run a school fete well ------------- but, they are in the game. It is a game, nothing more. If you want to know the game ------------------- follow the money. easily said, but much harder to do ---------------- find a nerd and track. Look for what is always unsaid. have a great day all gazza
