ponzi scheme?

Discussion in 'Chit Chat' started by mynd66, Oct 29, 2008.

  1. mynd66


    Just came across this while browsing through craigslist. www.glmroysic.com... says 10k will return 300/month up to 100k returning 3000/month. Just out of curiosity I checked the site out. I am facinated with these scams and wonder how they pull it off and how they plan on getting away with shit like this.

    ...It is useless to shout to the drowning moneylender “ Give me your hand !” He does not know how to give. Instead, shout: “ Take my hand !” and he will clutch at it. (- ?)
  2. This clown is based in Arverne, N.Y. Just call Attorney General Andrew Cuomo's office and they will shut him down.

    What a lousy offer as Ponzi schemes go. You have to wait 7 months before you get any money back and have to pay monthly dues of $5. Extra bonus is that the clown has an AOL email address.
  3. mynd66


    Same guy... http://www.livedeal.com/ShowItemDetail?id=62009677

    He just gives the address and says to mail the m/o or certified checks. So for 7 months I take it he's just cashing checks, fine dining, buy a nice car... then what? he takes off new name new location same scam? What a way to make a living.
  4. lindq


    Obviously a scam. I've forwarded it to my brother-in-law, who is with the Attorney General's office in New York.

    Funny though that the site is put together so poorly. You'd think that if someone is willing to risk time in prison they'd at least do so professionally.

    I really love the text in his "contract". Funny stuff:

    "This lifetime membership is a transfereable asset that can be transfered to anyone else simply by the above member returning this membership certificate to Glmroysice, along with a signed notarized letter indicating whose name and mailing address of the person to whom this membership should be transfered to.

    Nothing notwithstanding and not written on this membership certificate/contract will be rendered as legal and/or binding by the party affixing his (her) signature below or by Glmroysic, Inc."
  5. google hyip and you will find a bunch of scams that will at least promise you better returns than that before they bolt. Some of it is ridiculous.

    I always wondered if anyone makes money finding ponzi schemes and MLM stuff really early, or if theres no way to expoit the exploiter. seems to be a bad risk/reward ratio most of the time.
  6. lindq


    Last year there was a guy promoting very high returns, quick turnaround, investing in residential fix-up properties in Atlanta. Pinnacle Development Partners. He advertised frequently in WSJ, Business Week, Barrons, etc. I checked him out carefully, talking to 5 references who had invested. They all had made money, and a few had even visited his offices.

    Long story short, the returns still seemed to me to be too high to be believed, so I didn't invest. Couple months later he was busted and is now enjoying prison life.

    It was a classic Ponzi scheme. Pay off the initial investors and use them as references. But those initial investors did make money. The trick is knowing where you are on the totem pole!
  7. bypie6


    It's rather amusing how it is open-hunting season on any new original business venture that so many presumed "ponzi" victims will attack and malign a website with accusations of being a fraud & scam without any substantiated proof or evidence. Anyone of you "victims" ever heard about "presumed innocent until convicted?" To offer your ignorant advises to readers about notifying the Attorney General's office about our entrepreneuring activities ---- actually going beyond just insinuating that our business is a "scam" or "ponzi" scheme without actually presenting evidence of legal proofs, etc, is just acting out a literary lynching. Hiding behind emails, etc., while hurling these kind of unfounded and unsubstantiated accusations is just the height of cowardice. On our website is listed our name and mailing address. (Could it be the fact of our home base is in Arverne, N.Y. that renders such viciousness, I wonder? Perhaps, if we were located in a much "upscale" area, such as Broad & Wall Sts. will surfice or meet with your approvals? I don't suppose Michael Milken, etc., and the other gang of the "elite" Wall St. thieves and swindlers is above your reproach?
    Please don't bother to reply to this rebuttal of your assinine accusations as you won't be able to thread on water.
  8. lindq


    In the case of a website offer like yours, it is definitely "Presumed guilty until proven otherwise."

    You are making an outlandish claim of roughly 42% annual investment gains for the LIFE of the subscriber. (Interesting that these claims vary depending on the Craigslist site you have posted on!)

    Yet you provide no evidence of your investment skills, and make lame excuses as to why you provide no information on your investment plans.

    You need to get a good securities lawyer to review your offering and your site. As it is right now, you are leaving yourself open to charges of fraud and misrepresentation when you can't perform.

    This is something you need to take very seriously.
  9. mxjones


    Oh. My. God.

    This whole post is just a clusterf*ck of bad grammar and unintelligible thoughts.

    And that website looks like it was put together by a group of mentally-challenged grade school children.

    I really dig the music though.
  10. How did he find this site to respond?
    #10     Nov 24, 2008