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Trial of Texas Financier in Billion Ponzi Scheme
02-03-2012, 08:16 PM
Largest financial fraud case since the Madoff scandal...
http://www.businessinsider.com/the-once-...ord-2012-1
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Trial of Texas Financier in Billion Ponzi Scheme
02-04-2012, 06:05 AM
I wonder how many of the people he defrauded were from recommandations from friends? How many people didn't do their due diligence because this guy was recommend to them by someone they trusted. People lost billions with Madoff this way, and I think it's just another example of how sentiment, or emotion shouldn't be brought into business decisions.
Your best? Losers always whine about their best. Winners go home and fuck the prom queen! -John Mason (The Rock)
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Trial of Texas Financier in Billion Ponzi Scheme
02-05-2012, 01:30 AM
He had to change prisons in late 2009, after a jail fight left him severely injured
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Trial of Texas Financier in Billion Ponzi Scheme
03-08-2012, 02:50 PM
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Trial of Texas Financier in Billion Ponzi Scheme
03-08-2012, 03:04 PM
Most of his investors knew he was shady.
Just like most of Madoff's investors knew he was shady.
Investors just figured, "Hey, my guy is winning by ripping off other people. Cool."
That's why you should have no sympathy for the "victims."
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Trial of Texas Financier in Billion Ponzi Scheme
03-08-2012, 05:37 PM
Quote: (03-08-2012 03:04 PM)MikeCF Wrote:
Most of his investors knew he was shady.
Just like most of Madoff's investors knew he was shady.
Investors just figured, "Hey, my guy is winning by ripping off other people. Cool."
That's why you should have no sympathy for the "victims."
Exactly- this guy was paying rates on jumbo CDs that were far higher than market returns. $100.000+ CDs from offshore banks are bought by sophisticated investors-they knew what was up with this guy for years
"If anything's gonna happen, it's gonna happen out there!- Captain Ron
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Trial of Texas Financier in Billion Ponzi Scheme
03-11-2012, 11:26 PM
How much time is he getting? I'm pretty sure he'll be in a low security prison. There's no way he'd survive in general population.