Man accused in social media of fraud, seeks $1 billion damages

Discussion in 'Wall St. News' started by marketsurfer, Feb 27, 2013.

  1. thats how they got Al Capone tax fraud, you really don't want the whole US govt coming after you. I know a guy who had someone else claim them on a capital gain, long story short 3-5 years later and endless court fees, acct fees, etc. and being harangued by the IRS, it was straightened out. This dude was extremely stressed out to say the least, cost him around 20K in fees to prove his name.
     
    #11     Feb 27, 2013
  2. You bet. The bad guys need to settle before that starts to happen. Once it starts, it cannot be stopped.
     
    #12     Feb 27, 2013
  3. nkhoi

    nkhoi

    nobody would take his case but the chance is one to billion he wins.
     
    #13     Feb 27, 2013
  4. It will be thrown out. Guy didn't have a checking account, but somehow had a B/D and $400MM in AUM. Guaranteed that he was going to fleece someone.
     
    #14     Feb 27, 2013
  5. He may end up in prison, this was his game as far as I can tell

    http://www.treasurydirect.gov/instit/statreg/fraud/fraud_primebank.htm

    http://www.treasurydirect.gov/instit/statreg/fraud/fraud_prime1.pdf

    this is really funny stuff, when i was just out of college, I knew a guy who was peddling this crap-- truly bizzare its been around so long
     
    #15     Feb 27, 2013
  6. Treasury securities.... offering 7.5% yields!
     
    #16     Feb 27, 2013
  7. sumfuka

    sumfuka

    Fined for $150,000.00! He better start learning spanish and start practicing jumping over borders.
     
    #17     Feb 27, 2013
  8. No doubt about it. He filed the lawsuit to make himself look like "big bad Uncle Sam" was going after him unjustly....
    when in fact, it was quite the opposite:
    He was committing fraud against American citizens.
     
    #18     Feb 27, 2013
  9. It's still fine on this forum compared to some others.

    BTW, freedom of speech has limitations, almost all freedoms do, that's why you have libel laws.
     
    #19     Feb 27, 2013