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One for the brave person who is prepared to go through all the agreements in detail.

On the face of it you get a cracking return of 18% with the house as security (you don't get it).

But I would expect it is mortgaged up to / above is full value with the mortgage company having the first charge. So if you find the payments are defaulted upon then you try to recover on your charge and find out it has no value.

If I was living in London and fancied a gamble, and was prepared to do the research and pay the lawyer's fees, I would be tempted to follow it up.

Interesting one.

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Perhaps the £500 each month comes from a share of future 'investors' money.

Are you suggesting it might be a ponzi?

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Yes perhaps. After all the punter can't get at her 35k for 3 years. If there was something that can guarantee 18% ROI then I'm sure the investees could get a business loan, even in this environment, and keep the profit for themselves.

Well quite.

What was Madoff promising?

10%?

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