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Elevator Fraud
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<blockquote data-quote="Bfishn" data-source="post: 271019" data-attributes="member: 2006"><p>I would pretty much guarantee he has nothing left. Its the same old story for all these schemes, Guy offers higher than normal returns, first clients get paid and word starts to spread that the guy is legitimate. As more clients come, that money is used to pay the previous people and on and on it goes. As the schemer starts to dig a bigger hole and starts to have trouble making payments they start taking bigger and bigger risks to try and hit a home run and bail themselves out. Eventually it all comes crashing down and there is little to no money left. Even the original clients that actually got paid are now at risk of "clawbacks" since it was likely other peoples money used to pay them.</p><p></p><p>Moral of the story, if it sounds to good to be true, it is. Anybody offering guarantees of above market returns is trying to get your $$.</p></blockquote><p></p>
[QUOTE="Bfishn, post: 271019, member: 2006"] I would pretty much guarantee he has nothing left. Its the same old story for all these schemes, Guy offers higher than normal returns, first clients get paid and word starts to spread that the guy is legitimate. As more clients come, that money is used to pay the previous people and on and on it goes. As the schemer starts to dig a bigger hole and starts to have trouble making payments they start taking bigger and bigger risks to try and hit a home run and bail themselves out. Eventually it all comes crashing down and there is little to no money left. Even the original clients that actually got paid are now at risk of "clawbacks" since it was likely other peoples money used to pay them. Moral of the story, if it sounds to good to be true, it is. Anybody offering guarantees of above market returns is trying to get your $$. [/QUOTE]
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