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Mikhail Liebenstein

Hey, Its The Ponz!

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Ok, apologies for posting another news link, but this is valid for economic discussions as it shows how there is still fraud out there being uncovered.

http://www.telegraph.co.uk/finance/5862733...nzi-scheme.html

For consumers of the Bovey Turner thread, this story also has its share of celebs, though none as yet named, but apparently the ranks of the 600 victims include celebrities, sports stars and high profile businessmen.

Will be interesting to see what names are dredged out on this one.

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Ok, apologies for posting another news link, but this is valid for economic discussions as it shows how there is still fraud out there being uncovered.

http://www.telegraph.co.uk/finance/5862733...nzi-scheme.html

For consumers of the Bovey Turner thread, this story also has its share of celebs, though none as yet named, but apparently the ranks of the 600 victims include celebrities, sports stars and high profile businessmen.

Will be interesting to see what names are dredged out on this one.

for a minute i thought the police were investigating the social sercurity system

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Police suspect a gang of men ran a fraudulent and unregulated investment scheme offering returns of between 6 per cent and 13 percent a month for up to four years.

It should have been ovious there was something dodgy because it wasn't regulated by the FSA.

Most businesses that can get away with charging userous rates are regulated by the FSA to steal from the poor.

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Police said several alleged victims have already lost their homes, others have been declared bankrupt and some have attempted suicide.

Ouch

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Police suspect a gang of men ran a fraudulent and unregulated investment scheme offering returns of between 6 per cent and 13 percent a month for up to four years.

Thanks for those years of artificially low interest rates labour scumbags.

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Police said several alleged victims have already lost their homes, others have been declared bankrupt and some have attempted suicide.

Ouch

Greed and stupidity can be a bitch of a combination.

tinyviolin.jpg

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for a minute i thought the police were investigating the social sercurity system

or the US Treasury market... come on that is the world's biggest ponzi scheme! why am i the only one who can see that?

they raise debt (or print money) to pay interest on previous debt!

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