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Investment fraud, some gems exposed by the SEC...

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Anything related to investing, including crypto

MJ DeMarco

I followed the science; all I found was money.
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TheLearner

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Oh man I bet a ton of them over the next year will involve crypto, the numbers are staggering. Africrypt turns sour on investors: Founders flee as court cases build up I did't see this one on the SEC website (maybe because it originated in South Africa) but in 2021 it was purportedly managing over $200M :wideyed:
 

MJ DeMarco

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socaldude

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And a reminder, if you help the SEC convict any of these scammers, they give out healthy "whistleblower" rewards... like MILLIONS.

I’m guessing the more credible and the more evidence you bring forward the more money you can be rewarded. Wouldn’t be a bad idea to get in on the “inside” posing as an investor eager to get those too good to be true returns.
 
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biophase

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This thread reminded me of this one MJ. Have you heard of it? Did we ever talk about this one?


I actually invested in this and withdrew my money about 2 months before it came crashing down.

"According to the Commission's complaint, the foursome primarily communicated with investors through semi-annual meetings held at a luxury golf resort in Scottsdale, Ariz. Investors were provided with presentations about the status of their investments, and they were permitted to invite their friends, family, and others to the meetings as potential investors. Shah particularly solicited investors of South Asian descent, raising approximately $40 million from about 150 families."

I was at these presentations and saw people just writing $100k checks like nothing. It was surreal.
 

MJ DeMarco

I followed the science; all I found was money.
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This thread reminded me of this one MJ. Have you heard of it? Did we ever talk about this one?


I actually invested in this and withdrew my money about 2 months before it came crashing down.

"According to the Commission's complaint, the foursome primarily communicated with investors through semi-annual meetings held at a luxury golf resort in Scottsdale, Ariz. Investors were provided with presentations about the status of their investments, and they were permitted to invite their friends, family, and others to the meetings as potential investors. Shah particularly solicited investors of South Asian descent, raising approximately $40 million from about 150 families."

I was at these presentations and saw people just writing $100k checks like nothing. It was surreal.

I think I vaguely remember this, but I never attended.
 

MJ DeMarco

I followed the science; all I found was money.
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Read Rat-Race Escape!
Read Fastlane!
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Speedway Pass
Jul 23, 2007
34,406
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Utah
 
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