From the new market wizards: "It's interesting how different people are when it comes to money. Some people don't do any homework at all and give you their money immediately. Others wouldn't dream of giving you $10, no matter what you showed them. Finally, there are those that do a lot of homework and ask the right questions before they invest. Everyone falls into one of these three categories." There is a constant supply of the first type, the get rich quick lazy sucker types, they will always feed the ponzis.
Wow! The SEC really on the ball! Missed the Madoff thing but man they sure nailed this big-time player! Missed the entire financial meltdown too but I'm sure they'll nail Martha Stewart again shortly! Way to go!
I think this is an interesting story for how consistent it is. It's the same story over and over: Take the money and spend lavishly. When I read what the scammer did, I scratch my head and wonder: How did he think he could get away with this? What was his thought process/reasoning? When a big bank does it, it's usually pretty clever. There was no cleverness in this story. It would be hard to make a movie about it, because there never was a coherent plan. Crooks are so stupid!
Certainly he thought his trading gains would be so large, he would easily cover his purchases of the stupid car and bozo house--- this guy is real small time penny ante crook without even big goals--- an audi-- LMFAO!!!! going to prison for an Audi--- a car that every soccer mom has. OMG this is sooooo bad.
What is it with these people? If you're going to risk prison you should be socking it away in gold and disappearing with a new identity when you hit your dollar target. Instead they buy baubles and other trash like they'll never be caught.
Anyone that would wire $100k to some internet writer called @hedgieguy deserves to be parted from his money, IMO.
Very faulty thinking. Fortunately most criminals fall into this category. That's why it's easy to catch them. surf
Maybe it was the wife that made him do it? Very often there are greedy women behind guys who act financially stupid, they have nothing to lose in the situation. Also, it's not like there's a warning about when the end will come.