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Spare a thought for Allen Stanford who gets sentenced today

















Brixtaan

New member
Jul 7, 2003
5,030
Border country.East Preston.
Have a look at the current state sponsored position of the British banking industry for another example of a ponzi scheme.
 




chucky1973

New member
Nov 3, 2010
8,829
Crawley
It all looked so good for him, once upon a time.

allen-stanford_1018295c.jpg


But let's face it, when you make as many enemies as him, it was all going to come back and bite him eventually.

allen-stanford.jpg


Ouch.

the bird on the right is cracking
 














Leekbrookgull

Well-known member
Jul 14, 2005
16,386
Leek
You tell Mr X that you will get him a £200 return on his £1000 investment, so he gives you £1000. You don't invest the money, but give him £200 of your own money. You then tell Mr Y that you can get him a £400 return on his £2000 investment, just look what you've done for Mr X, so he gives you £2000, and you give him £400 of the £1000 that you received from Mr X. You tell Mr Z that you can get him £600 return on £3000, take the £3000, give him £600 received from Mr X and Mr Y, etc, etc.

Basically there's no investing of funds, and no profit, you simply pay out 'returns' using money received from investors. If you do it on a grand enough scale you'll have enough money swilling about to repay any investors that want to leave the 'fund' without raising suspicion.

Sounds very much like what i saw in a programme about Stanford,only at the 'bank' shown on the programme there were no safes or vaults whatsoever it was a paper chase.
 










Doc Lynam

I hate the Daily Mail
Jun 19, 2011
7,348
110 years, could have been worse, could have been 230. Time to take up a hobby me thinks!
 






Stat Brother

Well-known member
NSC Patron
Jul 11, 2003
73,888
West west west Sussex
One thing I'm missing.

Did Stanford force Mrs Prior onto him?
 




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