36 Burst results for "Ponzi scheme"
Fresh update on "ponzi scheme" discussed on Thrivetime Show | Business School without the BS
"Off The bottom. Now we're on the top. To give what we got Dixon's. Books Books sees wisdom in the. Refinement. Why So if you see my kids, please tell them CNC. Now three to what he? Yes. Yes. Yes. Yes. Should we are NBA air everywhere on today's show we're going to be talking about how to lead with no fear today's show is going to be so informative. So powerful. So transformative I really do believe it's almost scary Steve. Welcome onto the drive time show how are you sir? I'm doing great play under to be with you. Well okay. Let's talk about this for a second. What inspired you to become guru of how to lead without fear? What does that even mean? Well I was in the woods copy rights when I got a shelter in place order by Governor, and we've been talking about writing this book lead without there and I said man what better time to do than right now. So the inspiration really was Colbert and just. actually wrote and published the book and ninety days. It's. It's a lot of content that's been. Lived out in my own life and the life of a lot of my clients for nearly two decades. Now now, when you say a lot of your clients, what exactly do you do? Are you are you a Ponzi scheme manager? Are you a captain of ship for the people out there that don't know what do you? What do you do? What kind of clients do you have? Got Awesome clydes the. I've got those Seattle Seahawks, Microsoft spotify linked in Carlson. Some great brands across the US is due primarily keynote speaking in the space of emotional intelligence and transformational leadership. So I helped leaders transition from kind of that mindset that their I Q, technical tactical skill sets. will get them to the next level to show them that it's really about South Awareness. Regulating emotions when you're under stress and how to build emotional connections with those you lead. So the the keynote speaking really is foundation, and then just through my relationships I connect with a lot of senior leaders that need executive coaching around those very topic. Would you told me that you are the guest speaker of choice for starbucks and Microsoft and Marietta. I don't know about you guys, James I'm not sure if you felt this way Josh I. Know I did it was kind of a letdown I was hoping you'd say your Ponzi Schemer or a captain of a boat a small boat. But but no, you're a big time companies. It turns out When did you first figure out what you wanted to do professionally because I hear I hear this from thousands of listeners per year no exaggeration they will tell me. Clay I was in my truck driving around one listening right now I don't want to mention his name 'cause I. Haven't got permission to mention his name on the air by talk to him and he said I was literally in my car hating my job for twenty consecutive years I hurt your show it occurred to me that I wasn't happy with the direction I was going in my life now I'm self employed now I'm in. Tulsa. At your workshop I, mean you you hear people having these moments and my hope of this show is for somebody to have that moment right now. So when did you first figure out what you wanted to do professionally, Steve? You know I was. In the I started in the ministry and love the Ministry I did a college ministry that allowed me to travel the country and speak. But I always had kind of this bent towards business leadership topics Yup. and. I ended UP IN BETWEEN MINISTRY OPPORTUNITIES FOR MONTHS UNEMPLOYED and I've never done any of the internal work that you hear a lot of people talk about where I wrote out a purpose. I wrote out five. Values you know God was going to be my center. It was GONNA be about personal drive and leadership and in kindness and having fun. I wrote up a code of honor promises that I wanNA to make and keep for myself in the first one was that I would really truly follow that passion of inspiring greatness and others. So in the middle of being unemployed I, actually formed by company. Twenty five years ago Steve Up certainly request. And of course, it wasn't up into the right you know as far as A. Career path but I think the as soon as I followed that true of denic calling. AND PASSION WITHOUT FEAR Things began to open up people could sense that hey, there's something different about you In fact, when I speak a lot of times they go I was expecting the leadership content I wasn't expecting us to be vulnerable and open up your heart. With. A Lotta, the failures setbacks you've had. And so. that was really it once I followed, it began I'm and I'm the great area Seattle. So I have a lot of friends and in you know great places, starbucks Microsoft and all about so. It's led led the. I think through primarily relationships and just having these great relationships with world class people. Hey, this might be a little off topic here, but you mentioned covert. So you you you started this war. So I'm going to bring it up real quick you started at. So here we go. Are you recording today's show. Are you currently standing in the end? Zone to face down the fear I mean, are you in the antiques own right now to record today's show where we're in Seattle? Are you? I'm up into the suburbs. The were probably thirty minutes a thirty minute drive. but I've gotTa tell you. You know I've moved to Seattle from Portland with I. was holding the USA Today featured article that the number one most livable city was Seattle and I was so excited to take my family here. And I would say for the better part of.
Chicago nursing home executives charged with fraud
"Of Chicago nursing home executives are accused of defrauding investors of millions of dollars is part of a Ponzi scheme. 50 year Olds Valiant, Finer and 40 year old rez. Volver face wire fraud charges, prosecutors say between 2012 and 2017 2 sold investors membership interests in companies under the umbrella of F and our healthcare to sell nursing homes and assisted living. Facilities. Investment returns were apparently paid to investors through the Ponzi scheme, while finer and better use their funds for personal benefit. Both have pleaded not guilty to all counts.
The French history behind Lebanon's problems
"Earlier this month, a deadly blast in Beirut killed more than one hundred and seventy people, engine thousands, and lift three, hundred, thousand homeless. And a vast landscape of destruction. Now, Lebanon was already in extremely bad shape before this blast exacerbated by the covid crosses the chronic corruption and dysfunction that had defined Lebanese politics for decades with all that had brought the economy to ruin. Many people have lost they laugh savings and investments no wonder widespread protests recently led to the resignation of the Lebanese Prime Minister and his cabinet. So the poodle listen a broader historical context. Let's welcome back to the program Joshua Landis. He heads the Middle East Program at the University of Oklahoma Josh Welcome back to between the lines. It's a pleasure being with you Tom. Now Lebanon was once a model for the Middle East by route was dubbed the Paris of the East. Now, today Lebanon looks like Syria Iraq how did this happen? Well it happened because Lebanon is an extremely divided country it like Iraq and Syria there are Shiites and sinise dividing the Muslim side but there's also about thirty three percent of the population are Christians. Both marinade there and and Greek Orthodox. So you have the same. Religious Divisions in Lebanon that you do in Syria and Iraq but in fact, you have more and that's one reason why Lebanon fell into such a bloody civil war from nineteen, seventy, five to ninety, which was. Patched up. Most recently and They've been running in what turns out to be a real puns e scheme through the central. Bank. In which they shored up the Lebanese pound by borrowing gobs of money billions upon billions of dollars and. and. Supporting the exchange rate, but it turned out that that was a Ponzi scheme because tons of Lebanese in Australia. The United States Europe were sending their dollars to Lebanon to be in these dollar-denominated accounts that were getting interest rates as high as twelve thirteen percent. So everybody wanted that kind of interest rate, but it turned out to be a Ponzi scheme in just collapsed a few months ago, which was sparked these terrible demonstrations and instability because the country is now impoverished inflation has gone through the roof and people are discovering that they don't have any money and it's it's Lit tensions between different sectarian groups, and of course, as I mentioned in my introduction many people in Lebanon I've lost their life savings and investments. To people realize that it goes back to the collapse of the Ottoman Empire at the end of World War One this in France and Britian what do they do that essentially created free great minority ruled regimes in the Middle East, tell us mall. Yes they did and Lebanon was carved out by France which got a both Syria and Lebanon from the League of Nations after World War One. The League of Nations conceded this to France to really rule over the mass colonies, but they are called mandates and. France carved out Lebanon as an independent country. And made the borders such that they were as big as they possibly could maintaining a Christian majority so that the government would be dominated by Christians at the center ruling over Shiites Druze a bunch of sending Moslems none of whom would be able to compete in theory with the Christians and this allowed for a very French friendly country on the Mediterranean that France thought would serve it. Well, the problem is that within the years. The demographics began to change and Muslims became the crushing majority and this led to the civil war in hundred, seventy five and ever since then the various religious groups have been squabbling over. Political power. And today fifty percent of all parliament members that have to be Christians. National Pact even though Christians are probably only a third, the population which underlines how You know precarious. The entire political system is, and of course, in Iraq following the collapse of the Ottoman Empire with the British mandate the Sunni minority pretty much ran the show from the time of the collapse of the Ottoman Empire right through the downfall of Saddam Hussein, and in Syria it was the Alawite minority that ran the show and of course Stiffer differs from the Sunni majority during the recent civil war. Correct. You're absolutely right and this was a pattern throughout the northern Middle East where the colonial powers whether it was. Britain or was France would establish a minority in power given the lion's share of power, and that helped them to rule by divide and conquer, but it left a terrible legacy. That the Middle East is suffering from today because the Alawites this religious minority that's twelve percent of the country ruled Syria and today the uprising was an attempt by the Sydney majority to overthrow that minority that's clinging to power in Syria Saddam Hussein sunny twenty percent of the country Cenis and the Shiite majority and Kurds rose up to try to get rid of Saddam Hussein leading to very bloody civil war ethnic war and and that's that's one of the major causes for instability throughout. The region is this terrible fight between these different religious groups
"ponzi scheme" Discussed on Cyber Work
"Where they he had had his it people essentially scrape the wet, the real web page of the bank, any created a fake. That would show his bank balance. So he would have investors come in and he would pull up the bank Ryan the fake bank webpage, and they would see all the money that he supposedly had in his bank account, but it was all fabricated. So it was a fascinating investigation that in a really allowed us to dive deep into this to this one point two billion dollars scheme. That's amazing. You're not just looking for data, but you're actually having to sort of recreate or fabricate like his his entire sort of financial process and then help. Understand what's what they're looking at right exactly. Yup. Yeah. So I guess I want to talk about that a little bit as digital friends accepting that intrinsically involves face forward testifying in court or other other jobs or tasks that can be done as well. So like you know you say you, you like to sort of get to the raw you know meet a figuring out how this stuff is but you're you know a little maybe stagefright or something like that. Are there are there jobs that additional friends person can do that? Don't involve the sort of like face to face testimony or rewarded or whatever. Yeah absolutely in fact, most of the matters don't ultimately go to court and you know even those that do There's always a team right like if we're talking about this. One point. Two Billion Dollar Ponzi scheme we. had. Dozens of of forensic images and terabytes of data until I had a team working with me. At my direction and and there will in the cases that do go to court there will be tested fire but you know the w a whole group of people who are supporting you know who are vital to the success of the of the project. Contributing Stuff exactly that don't alter alternate testify. So that's actually how you learn to write like when I started. I was working at the direction of somebody else who is testifying learning. And following their their guidance on how to conduct the investigation and what to look for an ultimately, they would testify and I would. Learn From and emulate that and I saw again to my point about adding value is look that that's the thing that is kind of the you know the top of the pyramid and I want to be there and kind of work my way up but I certainly started out Being a contributor to the team. Okay now. Did you feel by the time you were getting to these high profile cases and you're leading them did you feel like? You based on your past experiences that you had the sort of tools that you needed or was is it always kind of like you're learning at night for the first time everytime? Will I think that's one of the things that makes his job. So interesting is that you know there's always new artifacts new operating systems, technology coming online, and so the whole state of the art in digital forensics is actually always playing catch up so you could spend every day. You know learning new tools by you're busy. You're.
Computer Careers: Digital Forensics
"Forensics is really the application of investigative techniques, and of. Science to study and interrogate digital media and that's a broad category. So it can mean everything from computers to mobile devices to SAS applications really anywhere where people are using interacting with with. Digital Information, and the reason you do that, and this is what makes it forensic is that you're you're recreating either how it was used or what happened on it or in some instances. What information it contained for example. Delete recovery of deleted information. So that's that's what digital forensic is. It's most often done in the context of litigation you know. Obviously, there's criminal investigations in the private sector for company like in my career more often it's in the context of Civil Litigation dispute between two companies but. There are many different paths in avenues that can follow which in my mind. What makes it very, very interesting, right like you can have. Cases that just very night and day from one another, and it's all kind of under the stuck digital forensics. So this is more of an umbrella term for all of the things that we of mentioned before. This is any any sort of data digital information and the sort of forensics friends, IQ examination and retrieval, and reporting on it. Yeah. That's right. So it would encompass mobile forensics Other things. Absolutely. So from a career standpoint what types of things? A lot of our listeners are just considering cybersecurity is a career and don't know what they want to start with. But like what sort of things should be learning or studying or getting involved with if you want to sort of prepare yourself to possibly move toward a career in digital forensics. Yeah, I, mean, the That's a great question and there's no one right answer which is which is maybe confusing but also good for people who have taken one path or another, and they WANNA get into this At my current company, we hire from a very wide variety of backgrounds at crisis. The traditional computer science study of Information Systems. That's very helpful and some some universities now even have digital forensic, Undergrad a curriculum for example, Champlain College has a great program, a University of. Southern. California. Here in Los Angeles where I am has a great program. and. So that's one thing but I think more more critical more important than just the kind of technical subject matter is that ability to think critically and to have those technical skills but also to combine that with very strong community communication skills because you're you're engaging with with clients who are having these problems. So you know it's one thing to be able to dive deep into the technical, but it's another skill that needs to be combined with that communicate and to correspond with. The people that you're working with whether it's attorneys or whether it's the the the. the victim of a of a cyber attack. Can you give me some? Be a specific example but some sort of examples of the type of problem solving skills you you need to be using on a daily basis in terms like you said, if if all the data's been, you know deleted at the last minute or because they know something's in there whatever like like what are some of the problem solving skills you have to sort of bring to bear to say like while this things not here but how do I get your? Yeah I think the biggest one of the challenges that I see very often. Very common with people earlier in their career, but even experienced practitioners. One of the hardest challenges is, how do I wade through so much data, right? Even one hard drive. You know you've God maybe it's a terabyte hard drives If you are looking at Ed unallocated space or all of the event logs, you've got millions of entries and you know you could scroll through that data for in a daze just one one drive and investigations nowadays are. Commonly hundreds of hard drives, hundreds of points, thousands even, and so what I see is that people really get overwhelmed even when when they've got one drive and how do I, how do I find the signal in the noise? And even when they're kind of educated on the different artifacts places to look they find the what we see is like people kind of like try and go through them serially and. Again just very quickly get overwhelmed and so that's part of the really a good good skill to learn how do you how do you filter through all that stuff to to answer the questions that you have?
Ponzi king Madoff's brother released from home confinement
"The The younger younger brother brother of of Ponzi Ponzi King King Bernard Bernard Madoff's Madoff's been been released released from from home home confinement confinement and and from from federal federal custody. custody. Peter Madoff, who had served about nine years of his sentence, was released from home confinement, according to the Federal Bureau of Prisons. He had been transferred to home confinement from the Federal Correctional Institution in Miami in November 2019. Officials said the 74 year old Madoff had pleaded guilty to falsifying documents and lying to regulators is part of his brother's Ponzi scheme. And was sentenced to 10 years in prison.
A broken system, a broken city: Beirut
"In Beirut yesterday countless people began the painful work of fixing homes devastated by a massive explosion on Tuesday. One woman who'd mlk posted a video of her mother-in-law playing the piano as others swept up broken glass. The music is bittersweet, the city is reeling. The moment of the blast no one was quite sure what had happened there was a deep bass sound for seven or eight seconds there was a rumbling. and. We thought it was a localized explosion, maybe a gas main that had blown up across the street or a car bomb in the neighborhood. Greg Carlstrom is our Middle East correspondent. I A cafe. everyone, of course, left the cafe and started making their way home and it was only on the way back down towards the three Indian towards the ports that I started to realize the scale of the damage. There was, of course, broken glass everywhere carpeting, all of the streets all at the sidewalks pass through an intersection where there were several women sitting in the median holding cloth scraps of fabric bleeding from the head they'd obviously been hit by glass. And every building that you pass by not only the windows blown out but the aluminum window frames blown off. So. You realize that this was not a localized incident, but rather something that had affected the entire city center. The blast was felt as far away as Cyprus it registered as an earthquake in Jordan. It had come from the port of Beirut or something had set off an explosion of staggering size sending up a white mushroom cloud then a vast bloom of orange smoke. Yesterday the government placed a number of court officials under house arrest and again investigation. Declared a two weeks state of emergency. Residents are still coming to grips with the shock of the blast. Felt like it went inside us like a best our soul the way. I saw something bright and I lost my hearing for few seconds. An explosion just went out. The human toll of the explosion has been catastrophic the death toll officially more than one hundred so far, and that number continues to grow as rescue workers find victims who were buried in the rubble more than five thousand people injured by the blast and many of them had to go into a hospital system that was already stretched thin. We've had a spike in corona virus cases in Lebanon over the past few weeks, some hospitals themselves were damaged by the explosion hospital Saint George Hospital across the street from where I live. was so badly damaged that it had to halt operations and when I went by the hospital, you saw patients some of them still wearing their hospital gowns with intravenous lines in their arms bloodied from flying debris and shrapnel for nurses were killed. Fifteen patients on respirators died when the machines failed the other immediate impact is according to officials in Lebanon about three hundred thousand people were left homeless by the explosion. About five percent of the population of the entire country and what do we know so far about what caused the explosion? It seems to be the result of unbelievable negligence even on the scale of the perennially negligent Lebanese government back in two thousand thirteen customs officials in Lebanon confiscated the cargo of a Russian ownership that was traveling to Mozambique. The cargo was two, thousand, seven, hundred, fifty tons of ammonium nitrate, which is highly explosive chemical that is used mostly to make either fertilizers or explosives from mining and quarrying and other industrial uses. So this material was confiscated, it was put in a warehouse at the port and for six or seven years it just south there there was some talk of maybe exporting the stuff for giving it to the army to use but this required approval from the Lebanese judiciary that approval never came you've had officials at the ports and with insecurity agencies who warned this was tantamount to keeping a giant bomb on the doorstep of the country's capital. Those warnings went unheeded and of course, tragically on Tuesday it all exploded but I mean what kind of government would ignore warnings about tons and tons and tons of explosive material just sitting in a city centre the Lebanese government would it's almost par for the course for Lebanon's political class. This is the government that for more than a decade could not agree on a budget. This is the government that for almost thirty years allowed the same central banker to run the Central Bank Lubin, and to run effectively state-sanctioned Ponzi scheme to defend the currency peg it's a country that created a political and economic model that was totally unsustainable. Invested hardly at all in basic services even in good times, Lebanon can't provide twenty four hour electricity routinely struggles to pick up the trash piles up in the streets. It is a perennially negligent government and this is of course, a catastrophic example of that but it's of a piece with the behavior of this government over the past thirty years. So this is a population economy that was suffering quite a bit even before the blast it was the country has been slipping into a profound economic crisis since October the the currency. Lebanese. Pound which for decades has been pegged to the dollar. Began to break away from that since October? It's lost about eighty percent of its value on the black market which has contributed to runaway inflation in a country that imports almost everything from food and fuel to consumer goods. So, inflation running around eighty percent right now and for food around two hundred percent prices have become astronomical this summer we've had fuel shortages that have caused blackouts in Beirut normally three hours a day stretch as long as twenty hours a day this summer and the backup generators that people rely on to provide electricity when the state cannot those are either burning out from overuse or running out of fuel just one crisis after another point. which has led to widespread poverty in the country the the official figures the government thinks around half the country is now below the poverty line that could rise as high as seventy five percent. By the end of the year, there's been a spike in petty crime driven simply desperation. There was one man who was caught on TV robbing a pharmacy for diapers another man who robbed someone at knifepoint on the streets and a once busy part of town, and then came back to apologize for doing it and said, he he needed the money to his family. So it sounds a a years long problem has gotten really quite a lot worse very recently mean why hasn't the government been able to sort of keep things from getting so much worse? The current government was installed in January meant to be a technocratic government that would tackle this economic crisis and negotiate a rescue agreement with the IMF but. Six or seven months later it's made almost no progress. The negotiations with the IMF have really stalled at this point they've had about twenty rounds of talks. But is not even really negotiating with the IMF yet it's still negotiating with itself. You have the cabinet on one side. And the parliament on the other backed up by the banking sector. which are having this very arcane dispute about the scale of the losses in Lebanon's financial sector about how bankrupt the country is effectively. And so you have this surreal situation where instead of Lebanon negotiating with the IMF Lebanon is negotiating with Lebanon. The Fund has told Lebanon that talks are not going to advance unless there's an agreement on the size of the losses or if the cabinet pushes through a few meaningful reform of capital controls, law changes to the electricity sector things like that. Neither of these things have happened and there are increasing calls for the government to step down. Do you think that's the way forward I? Mean, what do you think should be done here to to bring Lebanon back to? A functional state though the problem is if this government steps down what replaces this government and a lot of the pressure on the government right now is is coming from the traditional powerbrokers in Lebanon the sectarian X. warlords who have divvied up power in this country for decades since the end of the civil war in one, thousand, nine, hundred, ninety, this power sharing agreement they have it was designed to keep the peace and prevent a return to conflict after the war. But it's been captured by the. Hands up power based on sect, which runs a massive patronage network The World Bank estimates that it costs the country about nine percent of its GDP each year but if it were to step down without broader changes to the country's political system in this power, sharing system would simply be replaced by the same cast of characters who have ruined the country over the past thirty years. But that power sharing system was was there to to keep the peace to prevent a return to civil war, and that was the argument for years for decades when people in Lebanon would complain about the corruption and. The negligence and the inefficiency of their government, the response would be well at least this is better than a return to the bad old days even before what happened on. Tuesday even before the explosion though that argument was beginning to lose its weights with a lot of people here you have a younger generation of Lebanese who don't have the same memory of course of the civil war that their parents or their grandparents had, and so as the country slipped further and further into crisis over the past year, people have been more willing to to break away from this system than they were before. And I think the argument that well, there could be violence if the power-sharing system was stripped away after what happened on Tuesday after half of Beirut was destroyed by the incompetence of this government I think that argument is not going to carry with a lot of people.
Twitter Will Be Fun Today - The College Kids Who Hacked Into Twitter
"Today's guests. His Hip Awan CEO of Afani. Secure and private cell phone service locum his Heeb. Thank you Laura for home. You'll show. You were one of the investigators in touch with the young people who hacked twitter last week and gain control of prominent accounts, including those of Joe. Biden Obama Elon Musk and others as well as those of crypt companies like coin, base and finance, and when they had control those accounts, they were soliciting bitcoin from twitter users. How did you get in touch with the hackers? So Laura be in like. four-time itself, so then after I was so pissed off that angry that I said I need to solve this problem, and so I've entered into a form that relates how they have those accounts holiday getting pretty much all the ring of how they operate so. When you say that they had had your twitter account, nor they have my Sim Sark four times. Okay, and when you say Sim, swaps just described that in case, listeners does up. Does improper pretty much. What happened is like someone will take the form so the underground market like think about Ebay, but like I knew democracy with information. So you said your name, your information social security number your call logs your life, your life, location or anything on you. If I say hey, I need to find out for Laura Shane telephone number, and they'll give me telephone number will give me a call loss to give you. An everything comes through telephone numbers of numbers unique, and then if I say. Say Hey. I need to take the phone number 'cause I need so they will just prophet abuse him that I control, and I need to pay them few hundred dollars now. Your formula not work anymore because I had control of Sim card, so then I use that telephone number to get into a g mail, facebook and twitter, so if you go on twitter, new likely rescinded to email our number. If it's telephone number you've got. Someone's adopted very common technique deployed across US for a long time. So. The twitter hack twitter said that their employees had been socially engineered, and that's how these hackers gained control the systems. Are you saying that? Some twitter employees have their account. Sim swapped like how how does that you or Simspon tried? These people relate to the twitter Hack Greg? You wanted to ask me like how to get in touch with them so I'm trying to understand. You, that of analysis himself, so started going into the industry into this form than trying to see how they operate and to Dodd funny, so which will provide the made acadia that probably that cannot be Simpson's. That's what we did an offer that. VINCI START GETTING customers. Have you would actually getting a lot of attempts to do so? You would getting Dempsey pretty much every week that someone prior to himself or customer, trying to like hack into our system and mend the failed. I got in contact David Mayhew call, they would email method you and they will do all kinds of attacks. You know they'll try to let pen to pen tests. The everything did and obviously in one of the cases restocked immunity stopping messing around it right I know what you're up to. And after I got in touch with him to signal and author that the lake. Not I won't say that become a friend, but I told them why you're doing this. Thank you know you should not do this multiple hackers and they said okay. If you don't have anything to do pretty much, does it okay? Why don't you get a job? He said job, and then they start feeding the all information to proved at. Legit than a lot of information and how I was getting information from a lot of talk of the vote. And when it all this happened that you got in touch with him and had it happened late four five months ago. Okay They were diverging to me not just for this hot, but for other purposes to ride like a kid discount. Lot of databases beach everyday, so they wanted to see that a hey. If I'm interesting in the database, just wanted to work pretty much. is not money. It's also about ego that they wanNA prove something that they would do something so. So Mike Context for not hacking, but they'll be into the songs that they had access to. That follows A. Up I didn't want to. Excessive today were passing me. Hey, today. This is for sale to do sports on tomorrow. This person's so on the deal stood attack. I got a message that will be fun today, and when this message I thought he'd be like a distributor barks. Like scam scams, and but after why? That's all the kind. We got attacked ten. Finance Accounting Noble at depth one time. I taught that it's just a third party API like you know you have like you know where your schedule. The in everything I thought that may be compromised, and that's how they got author. Riley said No. We have everything. A screen chart I tweeted screen shot, and after that is blue. Well and so, who are these people? who were the people involved in the actual twitter hack? The difficult to identity like frankly I don't know I can speculate, but obviously because someone security and privacy I don't want to speculate but I can tell you wanting like college. Kids are maybe like someone between eight, eighty, twenty, one, twenty, two, and they are video gamers. They'd metaphor armed, and they found fascinating for them. Dislike a game like you go into video game on you killing you do stuff for them. It's like that. They, probably living in some way or radio patterns right now in basement. Who does not even know anything? and. They just do it for fun. Obviously, money's there, too, but most of fun for them is just a today. And so originally. The way you got in touch with them was they were targeting these different cell phone accounts, and what does motivation and taking over the different cell phone accounts so for account you can actually to when people take account, they can actually destroy you financially emotionally ended up recently, though by financial I can say they can get into your county bank accounts ticket by Tiptoe through that they can buy a lot of levels of securities financially they can do. obviously going to facebook in an email to, and then they donor all information from your facebook, and then they start blackmailing you that. Hey, likely when a lot you have done this like you know you have this. And you have to pay me this information out there and a lot of people would have to pay them the money because they don't pay the money. They looted operation right so and then third party. They just become Parson Mike is the word processing me. blender used to take my county new. They cannot get anything, but they wanted to talk to me. Just fun for them like people. Some people are sick. Like how did they pick you out of all the different people that they could torture also the league, if not just me like everyday hundreds of people to get them soft, though I'm just one of them on average, every second medical become victim of since up, not himself but cybercrimes so. But I had the impression that this was primarily targeting crypto currency people, but you're saying it's any bundled nor I think eighty percent of people who was himself to an entrepreneur L.! And the new in the cases of those people is it like personal vendettas that they're trying to? You can make more money by a hacking Lord cell than anything else you know. is one thing but Lloyd is like one number one target Loyd and has professionals league doctor medical doctor then. In Lord other number one targets in suffers, and what is the motivation for targeting lawyers Don. Money don't happen. How do they monetize that Yeah, so I tell you doctors, basically busy less tech, savvy and rich. It's that easy to find out any doctor information. You can find out who the best doctor in the city and you consume. Stop Him. And once you get into that account, you can transfer money between accounts who can be that people have been? Going into the count, Simpson calling the bank making via transfer, and then just checking accounts. That's pretty common. For for doctors to clinics have a lot of money. If you'RE GONNA clinic, instead he did even like five hundred hundred million dollar distorted the front because Alaska. Election for them. Okay, so let's go back to the twitter hack. They were some names that were identified of people who are involved these names. In The New York Times article that quoted you as a source one was kirk. There were some other people ll and ever so anxious. Who were these people? And how did they know each other? So they don't. Know the Best Birdie. They just hang out on rooms like chatting channels lake similar people on developed talked with you. The pirates channels. We had people a go if they WANNA have information to the document industry for finding information. If I want someone associated Gordon dissipates on one. Don't get call for these people trade information. And you asked about like a leg. Imagine your lawyer and you are fighting for my open kiss. We begin go to the website by that long since he will. They are who they're talking to the day can. Make some delays on them. That's one thing but other than that. These people are just a game as they would play like you know different video games and kick the die, who was basically a source of the rate industry rock says they'll be extra agents, and they are in room for longtime and David. Obviously you want you want something you don't trust the new guy. The new guy who is basically the main culprit punching the entity because multiple reasons, but the main guidance, the just which had A. Reputation. If you say you want a username of Laura at Laura, Shannon inactive. You may not trust kick, so you can do this. Middle Diane Tell Them Hey, can you hold the money for because you have a good relation? Because like Ebid forums generally have a petition systems. You know so then you ve into this guy like you know every inch it He went to care. Concur depended he the credit employees but I. Don't think he was employees. And, then he gave him the concert start building. So this is just a middleman. He was just broken deals. You tell them what you want. He was just keep his car and transfer the money. The is completed that fall. And so so kirk was was saying that he was a twitter employees, but as you said, you don't think that he was, and he was essentially selling valuable twitter accounts, and if people didn't trust, Kirk, they would use ever so anxious as their middleman to get the different twitter handles that they wanted. Is that what happened? That's correct. Good Gig, only unharmed on in July of. July it was very recently. that. He actually came so obviously not trust someone admit. That soon. July seventh in the New York Times article are. Limited okay, but all right so but ever so anxious. How to longer reputation and. And that was who people are transacting with. And so then. How did BITCOIN come into this? All. On these things happen through Bitcoins, so the way it started was they were selling. This twitter handles four bitcoin and then later. How did the scam change? So I. Personally is what I personally think. That kid was in touch with the employees who was giving these accounts. For a few thousand dollars. And then. Either bribed him. Architects. Social Engineering Him. Legs because like hey can do. This is my. This is purely my speculation that you're working for so long. He warned the trust. Any may have said Hey, can you log in forbid I wanNA see how it looks like something that he made it something so the guy is pasta on. Hey, just do it, but don't do anything crazy. You Know Butt kicked. Decide Okay, man I can just go on or can also go online with I can do it I can. Can also go on like you know. All those accounts crazy. That's what I okay, but you're just speculating. You don't have any proof that or or do you know what? I don't have any proof of that I don't approve. Have critic probably do it? And Kirk? Is probably a guy called coup, which is on a farm for a long time, so he speculated that he someone that was in the industry for wide, but not. Approved that. Kicked it, but from all the action than everything it all points to cook. Irene so in a moment we're gonNA. Talk a little bit more about what happened. Exactly I, in sight, twitter and scam, but First a quick word from the sponsors who make this show possible. How much in fees are you paying? CRYPTO purchases now crypto dot com as waving the three point five percent credit card fee. When you buy crypto apart from crypto purchases, you can also get a great deal on food and grocery shopping with crypto dot. COM Get up to ten percent back when you pay with their. Visa Card no card use the crippled dot com to buy gift cards for up to twenty percent pack download the Crypto Dot com today, and enjoy these offers until the end of September. Looking to connect with thought, leaders, innovators and blockchain enthusiasts welcome to T- forum a weekly virtual series about all things tasers. Equal, feature presentations about the latest advancements that healthy ecosystem grow together. Interested in speaking at t quorom, submit your presentation ideas and the tasers community will vote on who comes to the podium next sign up and learn more about the virtual series at t quorum dot com. Back to my conversation with his Heeb Awan. So, we don't know exactly how. Kirk got into twitter's internal systems. However Once. He or she did then what'd he do or or she do with their power? So. Kirk than they went to buy I think. Start with by notes I'm coin base. And the see your finance and he made it account Egypt first of all. What did it was did with other? Account. Okay, which means when you log in, it asks you to do a second type of security, which is hopefully. If you're in the crypto space, you have used something like Hugo, authenticate or key, and you're not using text message based second factor authentication. Where they sent a code your phone because otherwise if he gets swaps than than having no. Buyer so. Removed that and then keep going good thing. They added wall a secondary second. You know Autodata so now. I'll give example like you have my username seep, so they moved to a FE, and they're also removed. Jane, Email. And then they. Did possible reset. So the new email guard, the chain deposited garden the account. and. tweeted whatever they wanted. Well, and what were they tweeting? So, they were tweeting that you know. About Co. Ed Nineteen I believe like you know because of Covid, we like helping people. I don't remember the wording. Health Has Something and they said Back. And this is video any comments in YouTube. Actually they were so good that frankly sometime I get like you know Oh my God like the able to make it like a secondary thing. That's real you know and like, but this happens pretty commonly, and and it's happening for almost two years now i. It, really is the kind of thing where people think it's real I honestly. Had created a question for you, which is who are the people who are savvy enough to own bitcoin and know how to send it, but not savvy enough to spot. What to me seems like an obvious scam. Actually went on the Internet and are tweeted out this thing same thing I said like who are those people who can have sophisticated enough to buy Bitcoin, but knowledge to. Send. Bitcoin but I think leap Dick's everything. Like I agree people think okay. Let's give it a chance. You know it's like a lottery ticket. You know people may be, but they think what if this is true and other than that. If you like an must happening there, actually flaunted, be efforts on twitter. All the time with people are donating money on twitter, but they don't ask for anything they say hey, can you give me your Alfred Egland who this every day, so he will dollars to off fifty dollars for every person everyday. You'll say. Retreat this. I'll give you this money. So this happens right now and obviously As hit audible, read like you know when viewed come in people, people forget everything that you know. We have so many Ponzi scheme like so many scattered that happened that exist today could if I come to unity Laura investment scheme, which is a pretty good you know. He hit all the MACHIDA. But it only gives you five percent. You may not listen to that. Say Hey, Lord the Child who may tennis money tomorrow. You may skip everything. Cocaine is thousand and ten dollars tomorrow. Okay I'll take the risk from doing that. Hopefully I'm sure my listeners are savvy enough to know if it sounds too good to be true. But people do that I. Think I have estimated that around like maybe I. Just in this journal given us cam like. He put a lot of tens of millions of dollars and well not last week, but no, not over time overtime. Yeah, yeah, we'll be sending money, so there are enough food. I guess yeah over I mean for last week. The hackers did net about a little over thirteen bitcoin, which was about one hundred twenty thousand dollars, although analysts said that about twenty, thousand of it seems to have come from a suspicious address that they actually think controlled by the hackers to kind of make it look like this was legit and people were actually sending money. But then also by the way they could have netted more. However, Cuevas said that it did prevent more than one thousand customers from sending about two hundred and eighty thousand dollars worth of Bitcoin to the twitter hackers so oriented, so let's talk a little bit also about just what happened in twitter which was? Twitter blog posts. Hackers a targeted. Thirty accounts for forty five of those they reset the password and sent tweets from those accounts for eight of them. They actually downloaded that counts data, and then for thirty sixty legitimate direct message inbox, including one elected official from the Netherlands, and it was who. What do you think they could do with such information? I think it's A. Black, man that I've been talking to you about what happened with sin sopping. Let's think about it if you have first all that fool Phoolan that why didn't put? It wasn't like planned. I don't believe it was just like in the move in the heat of happened. BANDAIDS slaves. They clearly guy who just got drunken pretty might do everything but I think if you have access to like anyone, social media, proper social media like I have been I've received. Messages. And I but I don't believe that I think we have forged around. Believe the electoral, so, but if you have someone should media that maybe confidential information that can be misused by Stacey when leg if you do about it on dedic messages, a you know that's not confident that even with the journalist visceral broads. You know so I. Don't know who the information was. What fast, but that's video very very concerning and I believe this may happen on facebook or other social media from his. Because to same. Attack Factor. Yeah I definitely think that this is. One of those cases where it makes you want to just use encrypted social messaging APPS. Such as like signal or something, maybe what's up? So, let's just also talk a little bit about what we said before about how the hackers were able to remove two factor authentication on these accounts. Well, actually what they did I was. They changed the email address. And then the chain Laras Oh, actually bid on a there was A. There was an email. There was a blog post by somebody who had the at six twitter account, and they said they believed that the hackers change the address, but that when that happened, it did not send a notification to the original email address, but not I don't know if this person was surmising, you know six hundred interest in history, those belong to a hacker. Their the community of Hackers Gobi Twenty six hundred. That's like a court for hackers right. Not a quarterback, just like community for hackers and you were the hacker who ended up homeless anywhere. They will do attack into I think he would to. And he went into multiple you as homeless, but he was a hacker. And oxygen community belong to sixty name. Is this secretly off? I believe his name. And, but yes, but I think the first drift was removed and then. moved. To the letter. Control of it now thought it was the reverse, but either way. In Like for any of us who are in the crypto space who have been? Keeping up with our security and using things like Google. or UB and avoiding. Text message based to a or or any kind of to a based on our phone number. What? Can we take away from this like? Is there any advice that you have for Crypto? People on how they can protect themselves if the services that we use have loopholes like this. Let's not that'll be biased in obviously you know. Will. Finding here, but that's what we do, right. We work, but a lot. Actually I am surprised at how many a compromise them security argue out stocking some customer yesterday and they do You know an extra seat is probably the most I can tell you I know. We are making like a faces, but at same part exit. She's most prominent used offer manager for probably ninety ninety nine percent of the word. What would you recommend instead? Use a password manager, anything manager pretty much everything in the top five six. It stood, you know. Don't cheat on family plan. out on like those like a caveman. This company go with a better company. Even if you don't go the final leg, that's fine at least hell better company like Dourthouse I'm plan because no fan mace. You make you very vulnerable to now you're putting your own life on risk, but everyone who is in the time is. You know and the third party. Don't give out your telephone. Number molasses everywhere. You know like. Don't go to like you. Know have different email address if you want to. And you let you. At Google. Authentic get off your. There's something at one time I have statistics, said ninety five percent of people who are like major changes. Do not have to a fait. Sms I'm talking more to a and I think ninety nine percent of those are what you estimates to say. The people who've been additives Everyday I have started I deal with at least two or three people who get up everyday and came and we had some of the to affair, and I can get into that lot of people into the spark that they were not believe enough not to change it. please. Don't please don't be those people, but I can tell you like I've spent people and I said do this. Man How much time did it like five minutes six league. Logistics you Donald and APP, you know. have to familiar face. You know if you are very cautious, taken for a number, but I can tell you that Khomeini would make this mistake. Ordering will end and it you know, and in the end I did lose industry learn. That's was part. There was still use the same SMS to a fait. The dating did not happen to them. Again happened again. Because if it happens to once, you become more, you know your motorcycle getting out again. If they have found something and something, they just do for fun, and and you know what I because obviously I'm. Biased in a way that the. Customer. Time I've been a victim four times a feed Logar they can. What would you do? Please please please setup. SMS elected more music episodes into gear and please get family plan these I. Know You're saving their ten twenty dollars per months, but in the end you know if you call it a, it's like insurance. You can live without insurance to. But like you know. The one day you need insurance when you need it.
Trump Sends Well Wishes to Ghislaine Maxwell
"In our politics lead now. Even some trump republicans trump supporting Republicans expressed outrage yesterday when President trump extended well-wishes to Glenn Maxwell Maxwell has been charged with conspiring with the now dead pedophile. Jeffrey Epstein to Sexually Abuse Teenage Girls. Trump and maxwell have been photographed together, but in an interview with CNN another former Epstein business partner said that the two knew each other well as C.. N. N.'s Pamela Brown reports for us now. President Trump's return to the briefing room took an unexpected turn with his response to a question about g Lane Maxwell arrested earlier this month on multiple charges related the sexual abuse of. Girls by her longtime companion convicted sex offender. Jeffrey! Epstein she has pleaded not guilty. I haven't really been following it too much i. just wish your well. Frankly the warm wishes for Maxwell are bringing renewed scrutiny to trump's relationship with her and Epstein who government officials say died by suicide in his jail cell last year after being charged with sex trafficking, some Republican lawmakers reacted to trump's comments on twitter. Saying this is unacceptably obtuse for a woman accused of the most morally depraved of crimes, and she is despicable and he needs to. To say that I've met her numerous times over the years especially since I lived in Palm. Beach and I guess they lived in Palm Beach but I wish her well whatever it is. Trump says he's known Epstein. Since the late eighties and pictures from the ninety show the president with Maxwell who became Epstein girlfriend associate, and allegedly his madame, one picture shows trump with maxwell and nineteen ninety-seven, then again in early two thousand at trump's palm beach property mar-a-lago with his wife. Melania, and Epstein another picture shows trump with maxwell. At New York fashion show, and then again with model Naomi Campbell epsteins one time business partner Steven Hoffenberg who's been eighteen years in jail for a Ponzi scheme told CNN today. There's no dispute. They knew each other well adding he liked her, and she liked him and a two thousand two interview with New, York, magazine, trump showered praise on Epstein, calling him quote terrific guy and saying he's a lot of fun to be with. It is even said he likes beautiful women as much as I and many of them are on the younger side. After I've seen was arrested last year. Trump had a different tune claiming he kicked Epstein now. Go years before. He was a fixture in Palm Beach. I had a falling out with them a long time ago. I don't think I've spoken to him for fifteen years I wasn't a fan. Prosecutors say Maxwell went into hiding over the last year as more victims came forward, alleging she learned them in and groom them to be sexually abused by Epstein alleged victim. Virginia Jufri has claimed Maxwell recruited her in one, thousand, nine, hundred, ninety nine, while she was a locker room attendant at trump's mar-a-lago resort, though she never alleged any wrongdoing by the president. And Jake. The comments at the president made about Maxwell caught some White House officials off guard now. He is expected to brief again shortly, so we'll see if he addresses this then.
U.S. Supreme Court rebuffs investors' bid to block Madoff trustee lawsuits
"The U. S. Supreme Court today left in place a ruling that allows the trustee recovering money for investors in the party made a Ponzi scheme to pursue more than four billion dollars that went to overseas investors today the court appointed trustee has recovered approximately fourteen billion of the about eighteen by in that investors put intimate office business the high court also ruled that the board re organizing Porter Rico's debt can continue its work the justices rejected a challenge from hedge funds and a labor
Virus unleashes wave of fraud in US amid fear and scarcity
"The corona virus outbreak has unleashed a wave of fraudsters trying to cash in on the pandemic and officials are warning the public be careful and don't be taken in the department of homeland security is leading a nationwide crackdown it is opened over three hundred and seventy cases and so far arrested eleven people as part of operation stolen promise according to the acting director of ice Christopher parish was one of those they call a fraudster already facing federal charges for a Ponzi scheme he allegedly tried to sell masks that did not exist they say within weeks he was making millions of dollars on sales orders I'm Julie Walker
Virus unleashes wave of fraud in US amid fear and scarcity
"The corona virus outbreak has unleashed a wave of fraudsters trying to cash in on the pandemic and officials are warning the public be careful and don't be taken in the department of homeland security is leading a nationwide crackdown it is opened over three hundred and seventy cases and so far arrested eleven people as part of operation stolen promise according to the acting director of ice Christopher parish was one of those they call a fraudster already facing federal charges for a Ponzi scheme he allegedly tried to sell masks that did not exist they say within weeks he was making millions of dollars on sales orders I'm Julie Walker
"ponzi scheme" Discussed on Dr. Judy WTF
"And a half hours of me standing in front of my be the 'cause mine map and breaking it all down for you so do take advantage of that understand that there is a cause for what is behind our anxiety or depression are Defense mechanisms are horrible. Patterns are Horrible relationship choices and on and on and on in the mind map skier to going right for the cause and deconstructing it. So with Thatt's said I want to let people know also that I head up the psychological healing center. I'm a licensed clinical psychologist. I have a beautiful team of people who work with me. They're all trained in the mind map system and this is a call in show Show folks so please do call in. I think the number is up there. Correct so you can take a look at that and call in and and Even though Robert will be talking a lot we are interrupted. Please do ask questions so Ponzi schemes. Let's start with this article. So here's an article by Herald. Pollock February eighth two thousand sixteen. Why were so many made off victims? Jewish this article is not about Jews being ripped off or Jews ripping Jews off. This is a theme of people who are culturally in a group ripping each other off. Because when you have an affinity toward a certain culture a certain religion a certain group and if somebody in that group decides to use their affiliation there association there So called to rip you off. Well they can more easily do so so let me let me read a little bit about this Last week's ABC miniseries chronicle the most famous financial fraud in recent American history. This dates back to February. Two Thousand Sixteen Bernie Madoff who we are all familiar with or at least most of us are made off with fifty billion dollars through a Ponzi scheme which devastated elite institutions and There were a bunch of red flags going on and they were waving left right and center but people ignored it because mainly you don't really think that your best friend enter your business associate of years and years or a reputable person in your community is going to do such a thing. The tragedy itself was also a sort of warning. The victims were not just random victims. He decimated a segment of wealthy Jewish people and charitable organizations. He ripped off people like Ellie we sell and he even re ripped off a foundation called Haddassah a Jewish organization designed to help other people. So I like this comment. Who Defraud Sadaqa. That's like mugging your grandmother. Such 'cause would not be possible without the cultural use and social entree made off enjoyed in the Jewish community. This is called affinity fraud. Affinity fraud is depressingly common shocking. And this per- this person is an African American. Who wrote the article? And he says my own incidental exposure would be comical. If the stakes weren't so serious. I happen to live in a majority African American neighborhood in South Chicago. Land although you wouldn't know it to look at me marketing of Algorithms based on my street address and some of my purchases apparently revealed that I'm a middle aged middle class African American man so based on this I guess. Some rip-off artists put together an impressive volume of sales pitches Based on robocalls that President Obama is trying to refinance his mortgage or or or or at least advising him to now. I don't know how President Obama got involved in this or this. His name was tossed around to strengthen the sales pitch but then he he started getting a whole bunch of calls about Lowering his interest rates. And so on and so forth and refinancing and this all got very very messy and So inspired him obviously To write an article about this in this can happen to anyone. So don't think that this cannot happen to you and it is based on developing. Trust trust because there's an affinity between you and that person maybe they are the same culture the same religion or belong to the same organization There's an affinity there and so people let down their boundaries and boom they get in there and then You're in horrible Reverse mortgage deals or you're putting your money into a Ponzi scheme. And what have you and the most vulnerable people. Another article that I found that is very very significant is that the elderly are really at risk here. Because as you age your brain becomes less able to detect fraud not good for older people who are suffering from Alzheimer's Different forms of dementia. This is an article by Anti Nova and The article states that the elderly fall for scams and they fall because they have cognitive decline and so they are less likely to pay attention to negatives and they're not as vigilant against possible threats. And guess who are the most threatening people To the elderly with regards to fraud. Well their own relatives. There's a lot of Financial Abuse going on and so I just wanted to put that out there because We have to be vigilant against Our vulnerabilities I want to direct you to the mind map for a minute and in disgust panel number five and with regards to the article our defense mechanisms weekend and so who's Falmer bowl to Letting in all of this Poison so to speak. Who's vulnerable are people who have been groomed to trust who have no boundaries who have cognitive decline who Have families that didn't protect them well enough and I know we're going to get a call in soon from Robert so Robert. You're welcome to call in any time and I want to mine map. How this happened to you and what we can glean from this because it's really important that we understand the process the grooming process so that when people fall victim to this they can recognize that this is not just a random act that this is actually sourced back to childhood injuries that then That then set them up for this kind of fraud. So whenever you're ready Robert please do call in aunt. That number is three two three five two four to five nine nine. Okay so I'm going to go on a little bit more about this and I trust Robert is going to be calling in in any case You are welcome to call in and let's talk about a ripoffs affinity fraud why this is happening all over the world why this is happening within the communities and who is vulnerable Other than just people who are elderly and have cognitive decline. Why is it that we are so vulnerable to being ripped off? Okay and please do feel to call in while we wait for Robert. Hopefully he will be calling in. Because he's so passionate about this subject and He asked me to do the show and I invited him. In aunt onto the show as a guest so he can speak to this subject Hopefully he's still up an about enabled to call in Robert call-in and in the meantime if Robert doesn't call in then you call in and let's talk about how you got set up for such a thing. It'S PRETTY TRAGIC. So let's discuss it from a mind map perspective. We have talked about this on other shows. But it's just so pervasive now and and and It could happen to anyone. It can happen to anyone even if you have a level of financial sophistication even if you have A very logical head. It's natural you want to that. Human beings want to trust other people just like we want to trust our parents. We want to Be In a situation where we can feel comfortable and relaxed and trust statements. Like I'll take care of you. I have your back. Don't worry your special you know. These are very meaningful Setup statements for people who need attention who are feeling that they Are are are hurting desperately hurting for money desperately hurting for a feeling special so let let's look at what kind of childhood wounds would cost such thing so how about parents who for example. I'm going to panel one right now. Let let's guess at this. What kind of parents would set you up for fiscal affinity fraud type abuse? How about the general topic that I bring up much of the time narcissistic parents so what is the narcissistic parent and narcissistic parent is somebody that wants to bleed. You Dry. That wants to take your emotions that puts their own needs before your needs. So if you are used to parents who Switched the system up like this if you're used to parents who Would rather take care of themselves over you. Then you are subject to being vulnerable to this. Because you've already been groomed so going back. To childhood wounds there are five childhood wounds here One of the wounds is physical abuse. And then we've got emotional Name calling of verbal abuse. We've got a sexual abuse we have neglect. And we have smothering which is the controlling Type of abuse controlling manipulating these abuses cast a shadow over a person's psyche and leave the person vulnerable so whatever form of abuse you've been through it. Cultures actually violates your ability to protect yourself. It's kind of like breaking the boundaries. It violates your boundaries and once you've been violated either physically sexually or emotionally then Then the doors open for passing through and controlling and manipulating manipulating you. So I really do want to hear from you. I guess Robert Maybe Missed the time zone or I know. He's in another state In any case I invite you to call in and let's mind map how this could have happened to you. I'm sure there are a lot of people out there who are listening. And they're scratching their heads or you're scratching your head thinking I'm a smart person. I'm a good businessman. How is it that I put all my trust in such and such an individual? How could that have happened to me and it happens a lot? Okay so let's talk about the grooming process so starting with panel one. You're you're groomed to be violated okay. Physically emotionally sexually. You grew to be violated panel to you. Have a reaction to this wound and the reaction is a reaction of a pain of of maybe of a of shutting down or maybe even mistrusting The world and then you encode material like I don't trust myself. I don't trust others. And then what that sets you up For is a feeling of now. You're aching for trust your aching pillars. So maybe your mother and your father were not there for you. Maybe they were not the support system that you need it so now you're vulnerable and I'm going to add a little more to that. What if somebody recently died in your family and your aching to be part of a group or your aching to be part of a a a family and there's this kind of a covert deal going on that you know we will love you we will take care of you But there's a deal here that has to be Enacted before we let you into our special community which brings me to the other point when you're made to feel special solar panel number three negative core beliefs. I'm not good enough. I'm not loveable. I'm not important enough to be number. One look what the Schemer is offering that Schemer is offering to make you feel special so there was something in the article that caught my eye. Let's see if I can find it. something about being made special Okay I can't find it right now but but when when people are led to feel special filmed do things like give out their social security number They will They will compromise Areas of their life that they never thought they would. Compromise would enter into Poor financial deals that otherwise maybe in a different state they would enter into an in this particular case of cognitive decline. The elderly very very vulnerable So how do you protect yourself from all of this? Well how you protect yourself from. All of this is to go back. And he'll these childhood wounds so that you don't end up in panel number four five six and replicate the horror story of the violations and the betrayals because at the at the Core of this is a betrayal. A big betrayal. Because you're putting your hands just like as an infant you're putting your hands in parents thought didn't protect. You didn't have your back that used you to Milk you dry of your emotions or milk you dry of Of of of of any anything including your money making you vulnerable to other people that do this to you as well so think about it. How did you end up being defrauded by your family or your friends By your community leaders and obviously this doesn't happen in all communities Not suggesting that everyone is to get us. I am suggesting however that you put up boundaries and I am suggesting that you Not Give out information. That doesn't belong in other people's hands and so what are some of the clues included Clues to you that That you're vulnerable. I'M GONNA make up my own list here I think number one coming from a family. That didn't protect you. Okay number two having a lawson life if you recently lost a husband or wife recently lost a parent or a lover as somebody of significance to you. Then you're vulnerable to needing in needing more support and eating more advice and needing somebody to pervert really wrap their arms around you and give you advice to give you support Also people pleasers vulnerable to this. Because they're offering you something special so if you don't feel particular search particularly special and they're waving the year special because I'm letting you in on this very special deal and I'm not allowing other people in because this is Information that only certain people can have and only certain people can join this particular investment. Now they're playing right into the hands of The the the hands of I will now boost your Your specialness so I'm just GonNa read a little bit more pretty much any powerful connection humans make with others provide some correspondingly powerful opportunity for affinity fraud. And this can go on in a A religious community can go on. Lgbtq community it can go on in a cultural A group can go on really really anywhere so I wanNA hear from you..
Insurance companies are ripping teachers off
"In the past you may have heard me repeatedly talk about how teachers are getting cheated on their retirement plans. Teachers Lana nonprofit workers. Lots Times hospital workers are shunted into what is normally very inferior. Retirement plan in the workplace known as a four zero. Three B plan for threes are the teaching and non profit equivalent of a 401k. But aren't at all operated on an everyday basis. Leica 401k typically so 401k's have gotten more and more affordable with steadily lower costs for the consumer the worker putting money in the 401k and this is a movement that very heavily has been led by Van Guard and fidelity and lowering the cost of what you pay and fees over time to invest in a 401k. Teachers on the other hand are getting cheated over and over and over and over again and I probably sound like a broken record about this but it's so distressing to me that we want to build well educated kids and the teachers. We rely on to do this. And we say how much we love our teachers and we turn around and stab him in the back by having a system set up where teachers are cheated. And how are they cheated so four? Three B plans and again this could happen to people
Bernie Madoff seeks early release due to end-stage renal disease
"Convicted Ponzi scheme mastermind Bernie made off says he's dying in a new legal filing the disgraced Wall Street investor claims he's got less than eighteen months to live and is seeking an early release from prison the eighty one year old is currently serving a one hundred and fifty year prison sentence in North Carolina for operating the largest Ponzi scheme in history defrauding investors of billions of dollars made office end stage renal disease and is hoping for some compassion from the court Brian shook NBC news
Madoff seeks prison release, citing terminal kidney failure
"Hi Mike Rossio reporting Bernie made off is seeking a release from prison for medical reasons Bernard made off the disgraced investment adviser serving a one hundred fifty year prison sentence for orchestrating an epic Ponzi scheme is asking to be released from prison due to serious medical conditions and attorney filed court papers Wednesday saying the eighty one year old made off has end stage kidney disease and other chronic serious medical conditions and has less than eighteen months to live prosecutors are expected to file a motion in response to the request made off pleaded guilty in two thousand nine to eleven federal counts for defrauding thousands of clients of billions of dollars over decades
Wife of Maryland Ponzi schemer to serve 6 weekends in jail
"He's already serving twenty two years in prison for carrying out one of the biggest Ponzi schemes in Maryland history and now Kevin Meryl's wife will also spend time behind bars yesterday Amanda Meryl was sentenced to serve six consecutive weekends in the Howard County jail for her involvement in the scheme where she and her husband cheated family friends and investors out of nearly two million dollars Meryl pleaded with the judge to give her a more lenient sentence because she has two young children but the Baltimore sun reports the judge said he wanted to send a
Solar Company's Owners Admit to Running Ponzi Scheme
"A US attorney in California says a solar companies billion dollar Ponzi scheme is the largest ever uncovered in his district Bob Moffitt with capital public radio in Sacramento reports DC solar sold eleven thousand mobile solar generators that were never built DC sewers Jeff and Polikarpov have pleaded guilty in federal court to selling way more solar generators in their company built and for using inflated sales figures to bring in a billion dollars in investments US attorney McGregor Scott says the scheme paid for the owners lavish lifestyle and provided a way to pay off the original investors these were very large very sophisticated some very well known investment firms and they were investing hundreds of millions of dollars the car parks forfeited property worth a hundred twenty million dollars but that's a fraction owed to the victims the US treasury is trying to recoup the half a billion dollars it's owed for tax credits it issue to consumers who never received their
"ponzi scheme" Discussed on Sidedoor
"<Music> <Music> <Music> <Music> <Music> <Music> <Music> <Music> <Music> <Music> <Music> <Music> <Speech_Music_Female> You've been <Speech_Female> listening to side door <Speech_Female> a podcast from <Speech_Female> the Smithsonian with support <Speech_Female> from pr ex <Speech_Female> for more information <Speech_Female> on the crimes <Speech_Female> described in the postal <Speech_Female> <Advertisement> museums behind <Speech_Female> <Advertisement> the badge exhibition <Speech_Female> <Advertisement> check <Speech_Female> <Advertisement> out our newsletter at the <Speech_Female> <Advertisement> SL dot edu <Speech_Music_Female> <Advertisement> slash <Speech_Music_Female> <Advertisement> side door. <Speech_Female> <Advertisement> It's that <Speech_Female> <Advertisement> time of year when people <Speech_Female> <Advertisement> gather with friends <Speech_Female> <Advertisement> and family <Speech_Female> <Advertisement> so if you find <Speech_Female> <Advertisement> yourself at the dinner table <Speech_Female> <Advertisement> next a weird uncle Larry <Speech_Female> without much to say <Speech_Female> <Advertisement> recommend <Speech_Female> side door. <Speech_Female> <Advertisement> Tell them about <SpeakerChange> your favorite <Speech_Female> <Advertisement> episode. Who <Speech_Female> <Advertisement> knows maybe? He's planning <Speech_Female> <Advertisement> his own Ponzi <Speech_Music_Female> <Advertisement> scheme. <Speech_Female> <Advertisement> This episode might help <Speech_Music_Female> <Advertisement> prevent future family <Speech_Music_Female> <Advertisement> drama. <Speech_Female> <Advertisement> And we'd really appreciate <Speech_Music_Female> <Advertisement> your help and getting <Speech_Music_Female> the word out <Speech_Music_Female> side or <Speech_Female> is made possible with help <Speech_Female> from people like you. <Speech_Female> Your generous <Speech_Female> support helps make <Speech_Music_Female> <Advertisement> all the amazing work you hear <Speech_Music_Female> about at the Smithsonian <Speech_Music_Female> possible <SpeakerChange> <Speech_Music_Female> <Advertisement> special <Speech_Female> <Advertisement> thanks to Daniel Morocco <Speech_Female> <Advertisement> Wendy Pirie <Speech_Female> <Advertisement> and Robert <Speech_Music_Female> <Advertisement> Allison for their help <Speech_Music_Female> <Advertisement> telling this story. <Speech_Female> <Advertisement> We also relied <Speech_Music_Female> on the book Ponzi. Eh <Speech_Music_Female> <Advertisement> Scheme <Speech_Music_Female> <Advertisement> the true story <Speech_Female> <Advertisement> of financial legend <Speech_Music_Female> <Advertisement> by Mitchell <Speech_Music_Female> <Advertisement> cough <SpeakerChange> <Speech_Music_Female> <Advertisement> thanks <Speech_Female> <Advertisement> also to Smithsonian <Speech_Female> Librarian <Speech_Female> <Advertisement> Alan cats <Speech_Female> <Advertisement> and also to Cassius <Speech_Music_Female> <Advertisement> a dare <Speech_Music_Female> <Advertisement> and Jen Stanley. <Speech_Music_Female> <Advertisement> Our <Speech_Female> <Advertisement> PODCAST team is <Speech_Female> <Advertisement> Justin. O'Neill <Speech_Female> <Advertisement> Jason Fane and <Speech_Female> <Advertisement> Michelle Harbin. <Speech_Music_Female> <Advertisement> Natalie Boyd <Speech_Music_Female> <Advertisement> Caitlyn Schaefer <Speech_Music_Female> <Advertisement> just saddik Dodig <Speech_Music_Female> <Advertisement> Lehrer Koch <Speech_Music_Female> <Advertisement> and Sharon Bryant <Speech_Music_Female> <Advertisement> <Speech_Female> <Advertisement> Episode Artwork is by <Speech_Music_Female> <Advertisement> Greg Fisk. <SpeakerChange> <Speech_Female> <Advertisement> Extra support comes <Speech_Female> <Advertisement> from John Jason <Speech_Female> <Advertisement> Genevieve at Pr <Speech_Music_Female> <Advertisement> X.. <Speech_Music_Female> <Advertisement> Our show is mixed by targe <Speech_Female> <Advertisement> Fuda. <Speech_Female> <Advertisement> Our theme song and other <Speech_Female> episode music are <Speech_Music_Female> by Brake Master cylinder <Speech_Music_Female> <Advertisement> <Speech_Female> <Advertisement> if you want to <Speech_Female> <Advertisement> sponsor our show <Speech_Female> <Advertisement> please email <Speech_Female> <Advertisement> sponsorships at <Speech_Female> pr x dot org mark. <Speech_Female> I'm <Speech_Female> your host Lizzy <Speech_Music_Female> peabody. <SpeakerChange> Thanks for <Speech_Music_Female> listening <Music> <Advertisement> <Music> <Music> <Speech_Music_Female> <Speech_Female> on <Speech_Female> the flip side you've given us <Speech_Female> some advice for <Speech_Female> how to avoid <Speech_Female> being scammed but <Speech_Female> if you had <Speech_Female> any advice for someone <Speech_Female> planning <SpeakerChange> a Ponzi <Silence> scheme what would that be. <Speech_Female> <Speech_Female> Don't do it <Speech_Female> <Speech_Female> but if you were going <Speech_Female> to do it <Speech_Female> you know you would come <Speech_Female> up with the plausible <Speech_Female> story. Convince <Speech_Female> a few people <Speech_Female> get <Speech_Female> them invested. <Speech_Female> Make sure <Speech_Female> you return to the first. I <Speech_Female> people what you promised. <Speech_Female> And you'll get <Speech_Female> more and more <Speech_Female> and then just <Speech_Female> wait for the authorities <Speech_Female> to arrive at your door. <Speech_Female> That's going to happen <Speech_Female> you're going to jail. <Speech_Female>
"ponzi scheme" Discussed on Sidedoor
"So at this point in our story it's early July. Nineteen twenty and Charles Ponzi is worth millions. And he's done it in just six months under the guise of buying international reply coupons cheap cheap in Europe in selling them in the United States for a much higher price. He promises his clients. He can return their money. Plus fifty percent more in just forty five days and if they invest with him for ninety days he can double their original investment. But as. You probably suspect. There's no evidence said. Ponzi bought a single international reply. Coupon in fact to generate this much wealth off coupons would have been nearly impossible postal inspector Daniel Mahal. Alco told me that in July when it got to a point where he was making a million dollars a day it would have required ships the size of the titanic to be filled up worth international reply coupons for the scheme to actually work. That was the sound of my mind colliding with an iceberg. What Ponzi I was actually doing with all the money people gave him was very similar to the robbing Peter to pay Paul Scam? He saw firsthand in Montreal. But today we call it a Ponzi scheme here. I am talking with finance expert Wendy period. Again what is a Ponzi scheme. Upon e scheme is a scheme where you entice initial investors with a promise based on something that has substance. Okay Okay you've got some sort of story that you can tell which would explain how you can promise these kinds of returns and Ponzis case. That's his international reply Recoup Pons story so there's a plausible scheme underlying it as long as you're getting some new investors you then return the money from the new investors to the original. You use the money from person to to pay person one and you assume that the original investors are not going to be taking their money out once they get their return and along the way you get three new investors because person one is thrilled. They made so much money and everyone tells their friends and as long as you're getting new investors upon new investors and. Nobody is questioning your premise. You can keep going and to put a really fine point on it. What's illegal about that? Well you aren't earning anything and so you're essentially borrowing money and paying it back with other people's money so it it is illegal if you were actually earning money and we're paying it back. If you actually had found the way to do this there would have been nothing illegal. So without the postal coupons Ponzi scheme is definitely illegal. He stealing people's money spending some of it paying out little little bits here and there to people who wanna cash out and then letting the rest sit in a bank account and collect interest for even more profit for him and it's a little infuriating to think about this part of the story by July people stood in lines down the block waiting hours to give Ponzi their money. They thought they were getting astronomical returns earns on their investment instead they were making Ponzi rich by July nineteen twenty Ponzi. He claimed to be worth eight point. Five million dollars more than one hundred and ten million dollars today and he had about fifteen thousand investors during this time. Ponte's growing his fraud scheme beyond Boston. Here's historian Robert Allison. And he does set up satellite offices in Connecticut in New Jersey and other other places. So it's something that starts here involved in and then grows throughout the northeast and since ponzis reputation so important to the success of his scam after all a Ponzi scheme requires a steady stream of victims in late July. He hires a publicist named named William mcmasters. To make sure everyone would know the name Ponzi. And the publicist turns out to have some questions. Like one question is how come this. This guy can double his money in ninety days but at the end of every day he takes all of this cash to a bank. A bank pays five percent interest. Basically late publicist wonders. Why isn't putting his own money into his business? If it really guarantees these returns claiming in the publicist also you know is curious. Esp that all of the furniture. Ponzis off this is rented and the guy from whom he rented it periodically shows up to demand that he be paid. Well how come He has you know millions of dollars coming in every month but he can't pay this guy for rented furniture and leads Anita's by the furniture. This whole thing is on the level. It's these kinds of questions that lead McMaster around the corner to the Boston Post. Which is one of Boston's dozen or so newspapers? The idea that ponzis own publicist assist tips off. The press is a bit ridiculous. It's like getting sued by your own lawyer. So the Boston post starts investigating and they published some damning articles else a reporter checks with the New York City postmaster about ponzis cover story and the posts. July thirtieth article headline is ponzis worst nightmare. It reads quote coupon plan is exploded. New York. Postmaster says not enough in whole world to make Fortune Ponzi claims. The paper's tapers editors print the entire story in bold. As if they're shouting it then Clarence Barron owner of another Boston. Paper Accuses Ponzi outright outright of running a scam but he does it in a xenophobic way. That makes Ponzi. Even more popular among Italian Americans he sees through it almost immediately but then he says we'll of course you couldn't expect someone like Ponzi to understand banking because he's an uneducated Italian well. If you are uneducated Italian you know you have to show your solidarity by investing with Ponzi. Show this Barren Guy Boston's Italian immigrant community rally around Ponzi one day. Not long after these articles come out Ponzi pulls up to his office and there is a crowd gathered there and someone says to him Pudgy can can you tell Mr Pundit. Can you tell us who the greatest Italians who ever lived. He says well. Christopher Columbus discovered America and Marconi discovered for greedy oh and someone says Ponzi discovered money. He was like a folk hero but by this point state and federal investigators couldn't ignore Ponzi anymore for with his business increasingly recognized as a scam. The banks investigated postal inspectors investigated and that was pretty much it for the pawns Hans on August. Twelfth Nineteen Twenty Charles. Ponzi turned himself in ending one of the most sensational fraud schemes. In American history the rise and fall of Ponzi took a total of nine months. The headline in the next days Boston Post Friday the thirteenth Red Ponzi arrested admits now he cannot pay three million dollars. Short that's almost forty.
"ponzi scheme" Discussed on Sidedoor
"After twenty five months in prison. Ponzi was a freeman determined to keep out of trouble. The now thirty five year old went north to Boston. That's that's where Ponzi met and fell in love with twenty one year old rose neck. Oh they married after dating for less than a year and Ponzi was asked to join the neck. Oh families fruit would and vegetable business and this is a produce company that is struggling. I mean they have overextended themselves and they wind up actually failing ailing but this has released entree into the world of understanding How Boston's economy works? The company went bust turns out Ponzi. How's he was bad at making money? The honest way the man with the million dollar dreams was in debt trying to buy a life. He couldn't afford Ponzi pond. Three of roses diamond rings and his own gold pocket. Watch then one day. Ponzi gets a letter from Spain. The letter itself is insignificant advocate. But inside the envelope with it is something that gives him an idea to make Kim wealthier than he ever imagined. and then that starts thinking about this game this really elaborate scheme that he is going going to us to make millions and promise others that he's going to make the millions inside. The Spanish letter was curious. Certificate called an international reply coupons coupons IRC for short. Here's postal inspector. Daniel Mohawk. Oh again what exactly is an international reply coupons if something that's not in existence assistant anymore but at that time the purpose of the IRC is to allow a person to send someone in another country a letter along with the cost of the postage for the reply so so simplifies the whole mailing and return mailing process. Essentially if you're writing to a friend overseas and you WANNA make sure they'll write you back you want to include include return postage with your letter that time you'd have to try to buy foreign postage. It was real confusing and the IRA looks the same wherever you are. So we have an image of an international international reply coupon from the exhibition. It says this coupon can be exchanged for a postage stamp or the value of twenty five cents or the equivalent of that in countries which have adopted the arrangement. And it's got this quite beautiful illustration of goddess looking woman and. She has a letter in her hand. And it's like she's carrying a letter from one side of the world to the next and in this simple slice of postal bureaucracy. Ponzi saw his big opportunity. This is in one thousand nine hundred and this was after World War One. The European countries were sort of depressed. So they're postage rates. Were really low. United States rates were higher so Ponzi scheme has he purported to work was to buy these things up in bulk over in the European Green countries. Get them over the United States and then somehow cash them in for that money and that money is what he was promising his investors was going to pay off if these big returns buy cheap sell. Hi It's a simple legal plan. So ponzi walks around his Italian immigrant neighborhood. Telling his is planned friends. Neighbors anyone who will listen saying it is guaranteed to bring profits in. His Pitch Ponzi. Promised that in just forty five days. He'd return their money plus fifty percent more. That's bonkers skipping mind that today. A long term investment only grows at about five percent a year and people bought it literally in January nineteen twenty Ponzi had eighteen investors. Who chipped in about one thousand eight hundred dollars so cash in hand you might think Ponzi would go out and buy a bunch of these international reply coupons? He did not. He went to the pond shop to the gators watch back but he left roses. Diamond Rings.
"ponzi scheme" Discussed on Sidedoor
"Ponzi was short suave and confident and and thirsty for fast money but even tough guys have soft spots and Robert Allison a Boston based history. Professor says the also deep attachment into his mother and so thinking about what he could do both to make his mother proud or later on not to make her ashamed of him but also to help support her you once in the. US Ponzi worked five years at jobs. That didn't really fulfil his sense of destiny or leave in flush enough to send money home to his mom so so in the summer of one thousand nine hundred seven he picked up again and moved to the real land of opportunity. Of course. I'm talking about Montreal. There is a large Italian community in Montreal. Montreal actually goes to work in a bank there it was called Banco Zero See. It offered financial services like money. Transfers and served Montreal's Italian immigrants. Ponzi was quickly promoted to bank manager. He was perfect for the job. He spoke Italian English and French and his charm made him a favourite with customers. And Banco ain't goes. Rosie had a lot of customers because while other banks in the neighborhood offered three percent interest on their accounts. Bank President Luigi. Rosie offered six now that one. I don't understand here's Wendy. Pirie she has a PhD in finance and his Charles Ponzi historian. Because where was he getting this other mythical three eight percent the answer is no wear legal. Weighed down by interest in bad investments. Bankers Rosie started drowning in debt. The bank was is in trouble. Zero C got desperate. It was crime time.
"ponzi scheme" Discussed on Scam Goddess
"Mandarin. Do they hang out at the mandarin city. Okay have a mandarin renou right. They probably do right so you go. You put all your nicest Banana Hammock Huey long contact attack people at the bar. Okay that's GONNA get your money back and Bernie madoff goes. He made off with it. All right guys. We're GONNA take a quick break for some non scam. Damn advertisements gone back and this has been so fun now. We've reached our last a segment of the show scammer of the week. And this is just a second where I highlight a infamous scammer or you know maybe a little known scammer who I just really thank is worthy of our price so this week's scammer of the week is eighteen year old is I atkins who became a fake state. Senator to give paid speeches and highschools Atkins claim to be newly elected state state senator who had been appointed to replace Republican Senate Dave Burke he has since been charged with telecommunications fraud and impersonation of a peace officer when Atkins showed up to school. He said he was there to fill. He said he was there to fill in. For Burke as a guest speaker for a social studies class at Mohawk Hawkeye. School gets pulled into the small town high school in Northern Ohio with a drivers and two aides. So does as a senator or congressman. What what houses senator a senator state senator? Yes not a Federal Federal State Center. And this is you know people don't read people don't know that much about their politics especially if we're talking local you know what I mean and also I love that. This is a scam with props. I love props. And he came with the driver legacy. Yeah if he'd come by himself I would be like this is bizarre. Don't believe you but if you come with three other high actors island I'm believing leaving it. Get them get them. A little wired. earpiece I'm into you know you can get better radio shack so many fried utensils you can buy a radio shack. Yeah also at staples they're necessary. Anqing goes these are necessary places for fraudsters. I'm sure anytime you seven. One of those stores just know. Somebody's in they're buying things for crime. They just know so so kate. Ken Radcliffe the Superintendent for the school said in a statement the presentation although not polished unleashed was one that someone might expect from a young inexperienced newly appointed senator. The real senator plan to speak in mid January but a US government teacher at the the school received a call from eighteen year old Atkins who allegedly claim that burke had become ill and resigned so and this present day. I'm trying to find the year that this happened to be the year that this happened because I truly truly need to understand why somebody called told you that the senator was ill and could not resigned. Center was ill and resigned. Yeah so he called her. It was like. Hey It's me Isaiah I'm calling because Senator Burke actually you know you got a bad call. Eight decided to quit senator bring so. I'm going to be filling in for him. I what doesn't even sound that plausible. Would they. What the hell? So Atkinson been named the senators replacement. Because that's how senators work they just get a place for Thomson. Yeah so he said he would visit in berks place but needed to move up the date. Now I need you to also realize that this is a US government teacher that he called and told the teacher that the senator was yes. It will be replacement senator. 'CAUSE that's how government works you are A. US government teacher says she needs to be fired. Frankly she's the one who needs to be facing some stiff you're teaching kids about US government and literally somebody called you and told you rush out there. Yeah should've snapped at your face just like hey I'm lying okay. Hammer the taste of lies. Quick you go amherst said the Senator Atkins arrived a fifteenth and showed his real identification and gave a presentation tation. Why do this so badly was? He getting paid or must have been getting paid. No senator tip paid me. Probably not so pose as a senator. I guess so. When the real senator burks showed up for a scheduled presentation January fourteenth school administrators and students discover that they had been duped he must have been getting so so came in went? Yes days later. The real senator showed Eighteen years old also so he's an eighteen year. Old Senator says he so when action said that his intention was to expose security security risks in small town schools. These come on these countries schools. Think it can't happen to them. I was this duping to prove a point that these kinds of things can happen. They could have easily googled me and they did. It said Atkins was arrested after they were alerted of the incident incident by the state. Senate burke the real senator called it an extremely elaborate scheme trump saying that to get out of this so I guess my question is when he's he's saying I'm proving a point that security it's small town schools isn't tight. Yeah but what a baloney excuse or is that really does explain it but it's also like how did you get these other two people to come play AIDS in this car Are like what is wrong with the weird thing to do like. Hey y'all wanna come draft me down to this country school years about seven seven hours away look country school and they pretend to be my age. It's also stupidity on the inside too because like there's have been some follow up calls when that second senator showed up like the front office okay. I'm coming by Friday. Don't forget and then he shows up and that's when they sniffed out they'd been scammed but not until then like whoever's getting those calls to schedule these events yeah there's two senators scheduling edge link events at the school right. You don't have a calendar you weren't like reception or whatever like it's a school so it's like I'm senator one. I'd like to do it. On December Fourteenth Eighteenth Grade Senator. Okay make sure we'll call back a week before or not second senator also talking same person. Hey just WANNA know. December twentieth. There's still on yeah twenty. I mean yeah you want to senator with different. Nay Okay Look. Teachers are paying overwork. Okay and they were just like I don't know sure you're both the senator right. We just want a break from the kids. You gotTa Watch Watch them for thirty minutes while you give them the speech that's true a smoke break Okay Okay who comes from the senator. We're all the Senate. Oh gives a fuck. I love it so shots. I don't understand the scam but I appreciate your dedication to pulling it off truly our guys. We've reached the end of the episode. Can't believe time flew. You are amazing. Did I do go do good. You did fantastic fantastic. I WANNA make greatest hits swap the greatest greatest now season. This'll be the now gonNA now. That's what I'm talking about. Scams was and then like number one. Song Matt Walsh John Where do you want to be found? I asked me where they want to be found I guess I have an instagram. Am I do Mr Matt Walsh. Pretty simple occasionally do. Yeah okay okay. February twenty twenty. I'm working with a UH scripts and we're dropping Finding Marcus trunk which is a six or seven part. PODCAST series mini series about about her documentary filmmaker. Archive was discovered later in life like he was no longer around. It's very funny. I think this finance funny I see pieces of it. It's funny okay. I mean guys you can always find me at Ivy A. L. A. Diva lacy on all platforms. If you WANNA email any any scams that you've retired at times that you've been scam. Please share that with us at scam got his pod at G MAIL DOT COM. You can find us. It's got his pod on twitter on Instagram And bitcoin all right guys K.. Congregation stay scheming..
"ponzi scheme" Discussed on Scam Goddess
"But so Bernie confessed to his sons who work at his firm that he and who they claim they were not aware of the scheme. They said he confessed. Hey Guys I've been running a pause. This game he was like Mark Mark Andrew. Get in here guys. I've been running a Ponzi scheme. And they were like what all this money. That came out of nowhere. non-legitimate this is what they claim. So Andrew Turns his father in the next day which I was like what Legu- you are. Dropped down my your Daddy. I'm so cool that makes me think that it's real that their awareness or at least that that would make me think that. Oh my God. That is an argument for it probably was dropped the day before sounds made up to me it does the first of all. There's no way in hell that. They didn't know that their dad was doing crime. They were too close to the crimes they definitely knew that this was a crime. I feel like he was about to get in trouble so they dropped. I'm on him but he kept his family and his wife out of it they had to have known. There's a link of Andrew made off talking about turning his father and We knew that we couldn't live with this information. And not do something thing about it and we knew we needed to speak to an attorney and we knew that that was going to lead US turning him in. But we didn't know how to do that. And you know knowing the right thing to do and then knowing how to do it or two totally different things and we needed help you so think. He's lying his head off. Absolutely what should be you. Don't know how the same shoes or something I kind of believe that. Oh I don't believe that. Got Off easy. Look at the cash use Mitch and non people that he didn't even ask were also somebody double parked outside so let me get a license plate like everybody is easy. You just go down to the Police House House. That's what I call. That's what I call it. Yeah you go to answer the police house the precinct as you please. You Drop Komo. Yo Dad like it's very easy. I think that they went to a lawyer because they were like we. I heavily implicated in this. And how do we snitch. In a way yeah exactly it also it was gonNA come out because after the market collapsed people want their money and when people ask for their money and you say I don't heavy people are going to start looking probably a crime so show. There's no such it. Let me just interrupting. But there's no world where you believe believe that these kids who are inside the business and the brother like I feel like the brother might have known but I feel like the kids who like grew up when their dad ed before he started the Nasdaq and like they weren't even in the business. There's no world where he could have kept because he obviously fooled the world. The father was fooling the world for seventeen years that we know of of the insanity that was built upon you know imminent collapse at any given moment. There's no world where those kids certainly in this moment especially could be truthfully saying like we didn't know that it was this deep that it was this huge absolutely not absolutely. They're too close to it. You don't work for a company and NAT know that the company is a scam. You just don't like I worked for so many you're prone to your right and I figured out scams that every company I've worked I I used a man. I used to wait tables and I learned the managers codes and then I would just do all the manager's job for them because they'd be drunken coke down. This was in the Hamptons. So I became the manager. Gotcha and I could have literally been stealing money. I wasn't because I'm not a theme but I had all the codes and if there's a scam to be had people will figure it out. Is this human nature like if something is weird or flawed. kind of like This isn't that enough but they definitely knew definitely put money on it. And I think that that's why they went to talk to lawyers royer beforehand because they had to figure out what was going to be like what they should actually say and what. They shouldn't say well the rich people to they're always going to bring a lawyer with them in their lives right right but I think the reason that Bernie madoff had them dropped on him is because he wanted to absorb his family from any guilty. Probably WANNA take down his family with him so so he had them opportunity. They didn't know pain new. So we knew we couldn't live with this information and knocked knock do something about it. That's what Andrew made offset and poor. Andrew he died of lymphoma affects stress like everybody in the Oj case like that of like cancer. Okay so you know what I mean. We'd be stressed out manifest itself in Stress Evil Cancer. Well I think you have to be somebody who cares. Distress Stress GonNa live forever. Yes I think you have to if you have guilt or stress like that you know manifest so says that's that's that's what Andromeda off said of Bernard made off when he was talking about his decision to go to the FBI. You know he couldn't live with it anymore. He admitted to investigators that he had lost. Fifty billion dollars of his investments investors. Money Bernie Madoff has always claimed he acted alone. Federal prosecutors thought of that couldn't possibly be true and so two that doing so doing so would require testimony from a true insider. Frank Dip scally fit the bill perfectly so frank discovery was made chief financial officer and right hand man so this man definitely knew about those. He pleaded guilty to tin. Felony counts in two thousand nine and proceeded to sing like a Canary Scouts. All stories including he was basically like the White Collar Takashi. Six nine he told him that he they would produce stacks of false records for SEC examiners first and then he told them about the coal told them about the refrigerated trick which I think is an excellent trick. I don't know if that's like Counterfeit counterfeiters probably do that. If you've got to use the money fast cool cooler equipment that money and cooled off. We mean the use of today right he also we like. Why are these bills lose Lou? My car he also recounted how he and the other officers tossed the stack around the office. Like football to make it appear to be warned so they would. They would take the books and throw him begging for that. He sounds like he's a real old books. I'm like well digital. Put it in the oven trying to make mm-hmm turn brown a little bit like how old book supposed to look by the time you get them. They're like look like they were written in the nineteen sixty or not even like I duNNo. It's this is insane so there with throw this around the office like football but domestic alley faced up to a hundred and twenty five years in prison for his own crimes but he died of lung cancer in Twenty fifteen months before his schedule sentencing. I think that's a great way to go out. You know what I mean. You die before you lucky the only thing good about his dying going to jail right also. It's insane that he was going to face one hundred twenty five years for stealing people's money that feels excessive. That's too long like money stealing now murder but I know people were murdered people who are getting way less time. That's great these kids totally absolutely no. They would probably throw an office. You see your chief. Financial Officer Huck in back in in Florida. A big old library size accounting register for the year. You're like what what we do here. Why why do we have to throw the books around before skelly? Why do we put the annual reports in the frigerator Yahoo Beef stroganoff out the phrase the phases? Just full all the paperwork. Now I have fish I know you. I don't like what I heat up the physician office. But there's no way you walk around the office and people are doing this shit crazy. I watched the wolf of Wall Street and I thought like officers probably were pretty insane. You know before like hr like regulations. Yeah but we're doing some wild shit in the office planes. So maybe you could pass and I don't know or was there ever. Yeah or was there ever like collegiate like someone like that have like legit art store. Just randomly say no. It's just it's own company. I don't know anything about Bernie Madoff I I do sort of but not really what he owned. Did he have businesses that just for their own thing. That like you would give freight oh a restaurant. The family afraid of the Russia let freight around the restaurant. Let them lose as managing the restaurant where you're saying he might have some legitimate businesses. But I I. It's weird to have all your kids work for you and not have working close to you because those are the people you can trust the most looking forward to press galley. He'd had told us to the fridge by the SEC. Catch like he told everything so what happened to the kids to dig it prosecutive so they did not get prosecuted December number eleven. Two Thousand and eight made off his arrested on one count of securities fraud. Then he's released on a ten million dollar bail number. Seventeen made off is placed on house arrest which like where you live in a mansion. What is house arrest that sounds so nice march twelfth? Two thousand nine made off plead guilty to eleven felony charges including money laundering. Bring perjury false filings. SEC and fraud there is no deal with the government associated with the guilty pleas. So even get the hook up because like when you're the real yeah right we're looking for you take other people we get a deal but not you so march twentieth. Two thousand nine an appeal court rules that made off will remain in jail until sentencing zing April first which is trash like. He ended like stay in jail. That's wild he's pretty old to Federal Marsha sees made off yacht a smaller. A boat and one of his homes in Florida as court ordered seizures of the `financiers acid. Start to begin so now. Now the government's taking all this Shafak now when the government seizes Jesus something is it just goes to action. I would think they have to auction it because the government doesn't need a mansion in Palm Beach Florida. I mean now they probably would trump knees newsham Loans everything. That's so crazy. And he really has used. The president's east shows up to people's weddings that mar-a-lago and like does surprise photo ops with them and stuff so people will book this place hoping that he's going to show up and be at their way. He's that low class Shitty Shitty of a person. Your current let me go. Let me go say hi. Folks at the steakhouse is a true scammer. Like how you doing club appearances president go back to word Rut. He literally does club appearances. I cannot take it. I've looked like no and tonight. Donald Trump in battle service like a terrific new property. Tahiti just WanNa tell you about uh-huh right never more.
Contractor Randy Sprinkle Sentenced To 15 Years In Prison For Ripping Off Dozens Of Tarrant County Homeowners
"Questions contractor for North Texas cheated more than a dozen homeowners out of hundreds of thousands of dollars that contractors going away of the four year old Randy sprinkle was sentenced to fifteen years in prison after admitting the swindling more than a dozen Tarrant county homeowners out of more than eight hundred fifty thousand dollars prosecutor Laurie Vernell says regal was using up front payments to pay for previous jobs it fails for the same reason a Ponzi scheme fails you can never get enough new customers to pay for the work that you've already promised to do sprinkle would collect the down payment and not put it in a trust fund as required by law no most of sprinkles victims were elderly and he would leave their homes in shambles in one case to the point where other contractors wouldn't even give bids to fix it some of the work as a seventy two year old woman she's having to do it
Former Baltimore mayor charged with wire fraud over self-published book deal
"Former Baltimore mayor Catherine Pugh resigned in disgrace charge now with all Levin counts of fraud and tax evasion because of that old healthy Holly scandal healthy healthy always been anything but healthy for Catherine fused career member that children's book series she wrote about healthy Holly and how to eat vegetables and all of those things it was self published top either so let's copies sold lots of copies because of apparently mayor pues corrupt arrangements region had local charities and organizations with business before the city and the city itself just buying all of her books then either keeping them in warehouses or making purchases that were never even full failed and she pocketed according to prosecutors hundreds of thousands of dollars some of which was applied to her campaign other parts of that money applied to sprucing up her home how nice she wrote a great book and she made money on it but she can spend it as she likes right The New York Times reports that the Catherine Pugh has been indicted on these corruption charges connected to money she received for a series of children's books she wrote from companies that had business ties to the city prosecutor's making this public today I missed you she resigned as mayor back in may amid all of these investigations member the F. B. I. rating her home and these warehouses it's all over that healthy Holly book series she's multiple charges she's facing wire fraud conspiracy to defraud the United States government and tax evasion the healthy Hollister is promoted healthy eating and exercise habits which is nice but it was never actually given to the children in many cases at one point the hospital says an implicit in Baltimore had paid her two hundred thousand dollars to donate these books to needy children she took the money never print the books if you get two hundred thousand dollars for it how was it a donation well the book itself would have been donated to the kids right but she got paid for the box yeah right so so they bought the books for the kids right there wasn't a donation on her part no but on their part on their part of the hospital yeah you see what what we're she went horribly awry here she never learned the lesson of alcohol they're going to get you a tax evasion Uncle Sam wants his money that's where you're going down every time that's really make a big mistake she sometimes do pull is sold the same exact books to two different buyers is all this arrangement was not very intelligent no France is they have titles like exercising is fun and vegetables are not just green fun facts there she sold them to two different buyers which enabled her to be paid twice and then she would promise a certain number of books at a given price and she was actually keep the money and not provide the books as promised it's like a Ponzi scheme we promise people if you invest you know you but you buy this in you're going to get this then they never get that niche gets other people to buy and then they don't they don't get it and it's you can't do that how it was bound to come crashing down now I'm more insult to the fact that this was a very smart now is poorly done is very poorly done and companies who had sit business for the city kept buying the books from her and then she would not recuse herself from voting or decision making on issues related to those companies so they were purchasing her favor by giving her cash you think the people Baltimore would wise up somewhere along the line the mayor before her was Stephanie Rawlings Blake track she was the one who gave gave the people room to destroy stuff after the death of Freddie gray yeah you know just given like a day or two to just burn down private businesses and you know destroy in stealing robin get it out of their system yeah yet she's out of politics now sure which is I think was probably a very smart choice it probably was not for her need to find a nother another venue I Sheila Dixon was the mayor before Stephanie Rawlings Blake she was investigated for theft fraud embezzlement and perjury right after she took office in eight the mode as she most famous for the theft of donated gift cards intended for needy families and she use to purchase offer codes and designer shoes she was indicted on twelve counts by a federal grand jury she did not serve jail time as part of a plea deal and she resigned in twenty ten with a promise to not seek political office for the term of her probation but Hey Baltimore if you're lucky she can come
"ponzi scheme" Discussed on Dr. Judy WTF
"Dismantle our own pattern of inviting these people into our lives then once we stop and unplug. unplug from the to do this. What the Freud chase the the carriage Eric Chase? The Golden Chalice chased the impossible dream that they will change. They'll have a paradigm shift. They'll come around around it it it. It hardly ever happens. What if it's not about trying to change them? What if what if it's about their hoovering you want? No okay contact and you have to kind of make your own sanity by Listening to them saying okay. I'm not going to be around but then even been doing that. It doesn't it sucks or energy out and you've got to maintain okay so you'RE GONNA change. I know they're not going to throw at the same intern. Ro Robert Look rarely do I tell people no contact. Because most people can't stand no contact. They want some sort of a happy mother's others day. Merry Christmas happy Hanukkah kind of connection. Okay it's just that you have to make a decision. What level of contact number number one? Okay who's going to be contacting like your significant other has no business being porthole for delivering poison to you that it just has to be cut off second way okay. Just WanNa just WANNA finish hold on a second on a finish so people can understand. You're under or no obligation to contact anybody including your parents. If it's going to leave you you deplete it less than sick wounded why they put themselves first. So now it's the message is put it yourself. First they have no problem putting themselves first. They have no problem taking your money. Could you please get into what what they did to your salad. I want people to hear this because this is absolutely shocking. Could do briefly elaborate on that. Please absolutely thinks that we're going to call these people that were buying the restaurant. Michelle is the mother was your daughter and the husband was trying to sell the work. It is buying the restaurant. They all all worked together so when they went to get restaurant when they went to give me a spouse. Excuse me this is very a whelming there there. They were coins and changing the salad and they meant to physically harm me. My vision is a little impaired and they use that disability gets me what love me get this straight so the audience could get this straight so the people who are buying the restaurant from your father were also co conspirators against inst- you correct physically harming to physically harm you and put coins in your cell it so that you can crack your teeth and choke on on it. That's correct an ally my partner go potala and and he said what is this and I was still. We're almost at the breakdown period that I couldn't comprehend anything but I remember that night. The the woman. Michelle looked me in the eye and said so rob. How is your salad for some reason? For some reason there was something in me whether it was the inner God the inner instinct and said don't touch it a cap moving around and he wanted up as he said he took a bullet for me and this was this haunted me for a while and ever not only did he went to the doors leading even done. He's still honored these perpetrators so he was the perpetrator and then then the people who who he was doing business with so this was one big huge poisonous situation for you so family family of my okay so loop I just wanted I just WanNa read a little so people can learn and learn through your experience and that's why I really appreciate you sharing this so toxic. Parents do not treat their children with through suspect. They won't compromise. They won't take responsibility. They won't apologize often. These parents have a mental disorder serious addiction addiction. However if childhood was traumatic we carry wounds from abuse or dysfunctioning parents one? They haven't he'll toxic parents. Can we injure us in ways that make growth and recovery difficult. And then I'll add to it the the toxic parents are the cause the meaning the blueprint and then we tend to pick relationships that replicate the soften Pat- pattern. So I want to go on so that people listening listening can identify These kinds of behaviors. Do they criticize. Compare you to they control you to. They listen listened to you with interest to they manipulate US guilt or play the victim. Do they blame or attack you too. They take responsibility and apologize. And I'll add to it make you whole do they respect your physical emotional boundaries. Like no you can answer that one on. Do they disregard your feelings and needs to the envy or compete with you. The list goes on Okay so as we wising synopsis in a global sense and this is a global show going global and cross cultural. This is not only a cross cultural cultural problem. This is a human problem and once we learn to be wise once we make the unconscious conscious once we understand. The cues and clues clues that alert us to Put Up boundries or put up permanent walls that we don't take down then these these people will start losing their power. They will start losing their power as a society. We just have to get smarter and smarter and by the way if you're listening you think that you're one of those people and you WanNa get help because you're one of those people but you're thinking maybe you don't WanNa be one of those those people. I would have ultimate respect for you to look at yourself in the mirror self reflect self-correct. Start Your journey so so that you can step out of this horror story and understand that the horror story that you make for other people will also oh back lash onto you because Unfortunately you're however you WANNA look at it people with this disorder will eventually be busted and they'll end up very lonely and they'll probably end up imploding and maybe even suiciding so. This is not a fun pathway whether you're the victim of this or whether you're the The perpetrator of it. It's it's not a good Assad good pathway for anyone. It's just not a win win. Okay Doctor Judy. The biggest slap in the face was when when these people that tried to buy the building and did successfully by the building tried to physically hurt me it was all about Robert Unique to shut up because it will screw up the deal. Well that's that's just more evidence that that how sick they are and okay so so Robert. I WanNa ask you this because I know that you've we've been trying to get closure with this. Okay thank goodness it. Just the evilness of them trying to hurt me has been looking like in the eye of the devil. I mean this generation as well as me going close to God. 'CAUSE also Iraq is a human and we're talking about panel number let's after the paradigm shift. I mean this conversation Jacob Very So how do you cook the home. Okay so I'm going to challenge you a little bit and challenged my audience. How do you wrap your head around around all of this? What do you say Robert? How do you wrap your head around all of this how do you how do you come to them? Normal to them that that that the golden child friend could hurt the scapegoat. But that's normal. That's acceptable the book okay. No it's Robert. I'm going to ask you again. 'cause I know tomorrow you're going to send me an email with the same in question. So do you see this is what happens. This is what happens is that you can't wrap your head around it. It leaves you undone it leaves you. You open ended and whenever there's an emotionally rape with no closure and that's why it's such a powerful mind F- okay. That's why it's so is because it's does your your. We're we're heading yet right now. We're being the crazy except the crazy. There we go except okay. We got to wrap our head around the fact that it is what it is. It's crazy at six step away from it. Don't engage with it you don't have to go to dinner with If they deplete you why would you WanNa have dinner with the devil. Tell me why well well O O. It's my son. Oh all of this. Mother was alright. Lot of let me let me help you with I mean how do you know how to earn family. Owned my my child. I just WANNA make peace. Why can't we have break bread together? Either way you've cut thing we know why you ready told me why. Why not why? Because they tried to put coins in your salad because your father Father defrauds because your mother Christ for him has no empathy. We already know the why now they're asking. Why won't you go to dinner? You've already answered. So that's crazy by even disagreeing with them. So what I'll know. Oh you got the story story wrong thing. I feel like I'm cry to me. I'm fighting I feel like I'm fighting for your mental health. I want you to fight for your Hof. Okay so I just want you to fight on lovell of are you going to trust their feedback. These people are manipulative. So they say to you your son you're unworthy worthy Robert. You're crazy we love you. I'm your father. Mother will let me give you some general definitions of what a father and mother other is they may be your biological parents. They may have been the people who raised you however a mother in a father has empathy mother and father has your back a mother and a father put your feelings before their own. A mother and a father will never allow for anyone to put coins in your salad. A mother and father will not do business with people who hurt you. Okay so I want you to be careful with your definition and maybe one of the things that you could do in your mind or maybe for real is stop calling them your mother and your father other. You know what I actually was thinking about that when I was coming home from work and and that was thinking about them as a sperm donor and an egg donor. Thank you being never put they. They never they never protected me and I just wanted to point out that as a younger gentleman ed who always stood up for himself I was molested and I went to the police and put them in jail and I really stood up for myself time where that's a- and I remember my father saying you know what rob you should never put that guy. Why did you call the police Now you opened up a can of worms. He was worried about other people. He found out all about him not and I remember telling him why he sent me the more count so Robert. This is all consistent. This is all consistent and I'm sure you have another hundred stories stories just like this. And so at a certain point there's a concept that I liked to refer to called critical mass. Okay so let's say a have a friend and that friend is not so nice to me. Okay maybe all right. Maybe they're having a bad day and then another time. They're not so nice to me and I I I pointed out to them and then they again are not nice then again are not nice at a certain point a critical mass point. You just say so you know. I don't think I WANNA be friends with this person anymore. I don't think I want to give him any energy. And depending on the level of violation you can do anything from cut them off completely to just stay polite and I don't know what you decide. What both my hi mom and dad's numbers from my phone because at this point the holidays are coming and they're gonNA make it so manipulative that I almost I literally locked her numbers? Because I don my mother was was sending me text messages would have smiley face. Oh I miss okay. That's the LOB BOB is bombing do you get it love bombing. Love bombing is when you're creepy creepy of course and it went nothing to to do with this. I mean literally standing my ground but I'm like what do I do this. Is you start to question their own stuff. So I I I did block it became and then I remember going back and forth or fifth but then thinking I have to I just you know what they had no respect back from my boundaries. Why they audience here? Halbrook is a good point of my life. I'm able to say that Okay Robert G. in audience to hear how much Robert is struggling because we all in the depth of our heart. We want parents. We don't want on a break the bond sometimes we have to because it's for our own mental health and sanity it we don't do it arbitrarily we don't do it For for the wrong reasons we do it because because sometimes some people just have to because it gets so poisonous I want to save this so everyone could clearly understand. It's not what people do chew us because we're not in control. It's what we do with what people do to US understand so if somebody eating okay I want to say that again. It's not what people do to us because they're going to do whatever they WANNA do. Today I was driving and a somebody decided to cut me off and I just decided that instead of a be endangering my life or risked his putting the brakes on to punish me for something. I don't even know what I decided to turn in another direction and flow the other way. I'm I'm not playing a not engaging knocking waste my breath being angry at a stranger who has their own issues. I'm sorry I'm I'm just GonNa do the best that I can for myself. I want to disengage so again I want to say it's not what people do to us. It's what we we do about what they do. Uh Self your parents do. ABCD you you could then decide what you WanNa do about that and you can do whatever is best for you. Hopefully whatever's best for you and you you stop asking these questions. Yeah but should I still call them. My mother sent me a smiley face. And you know I'm Italian and I love family. Yes good luck families. Just that family doesn't treat you like that okay so you've got to watch.
Bernie Madoff asks Donald Trump to reduce 150-year sentence
"Bernie made off currently serving a one hundred fifty year sentence after pleading guilty to one of the largest Ponzi schemes is asking president trump to commute his sentence ABC's Michelle Franzen has more it's been a decade since Bernie made off began serving his sentence at a federal prison in North Carolina now the eighty one year old is asking the trump administration to reduce his one hundred and fifty year sentence the justice department confirming made off request made off pleaded guilty to eleven federal crimes including fraud the former hedge fund manager bilking clients out of billions of dollars of investment funds his case is considered one of the largest Ponzi schemes in history made off is not asking the president for a pardon instead hoping that the president will commute the remainder of his prison
"ponzi scheme" Discussed on 860AM The Answer
"And the most obvious they don't reproduce the death of religion in western in a western country is the death of the survival of the society in the long run. The biggest reasons to have children turn out. I'm not saying this. I'm just telling you. It's a fact. The biggest reasons to have children turn out to be religious reasons. That's why religious people in affluent societies have so many children and secular people in affluent societies have so few children. Why do you think that the why aside from foolishness which is a big factor did Sweden bring in such a staggering number of of refugees from the Middle East because they need workers. They can't sustain the welfare state. It's not a socialist country. We'll talk about that next. The cancer stain the welfare state without an massive infusion of of workers, all welfare states. Do you hear me all our Ponzi schemes, they are all Ponzi schemes, you better get more people to put in money. That's what a Ponzi scheme is. I can't produce the money that I owe. I need new people to put money in. But secularism breeds no children or few children. Now people deny it because they they want to deny it because truth is not a left-wing value never has been. How Sweden's the amount of violence in Sweden, especially rape has shot up dramatically since the infusion of middle easterners. No, I'm not saying all Middle Eastern men, commit rape. And if that's what you hear the have no moral excuse and you only in the policy. More importantly, you will yourself an apology..
"ponzi scheme" Discussed on WIBC 93.1FM
"You've laid out in your campaign is forty trillion dollars over the next ten years. But I'm talking about the overall package you say, it's not pie in the sky. But forty trillion dollars is quite a bit of money and the the taxes that you talk about raising to pay for this to pay for your agenda only count for two we're going by left leaning analysts. Yeah. Left-leaning analysts people who want you to be right. But people who know that you can't. Sweden used to be vastly more wealthy country before the seventies came in and they decided to implement a lot of these cradle to the grave super social programs which chased away so many companies and corporations and entrepreneurs and business owners, and it wasn't until they started to loosen up some of the regulations that you started to see the telecom industry with Ericsson a few others start to take off. But the reality is is all it is is a miniature Ponzi scheme. Of. Consumer tax that goes to just keep people heads above water. It doesn't promote anything else. You're going to guarantee a job you're going to guarantee a house, you're going to guarantee an income, and you're gonna guarantee education and healthcare. They never have a way to pay for it. They never do. Once again when asked Cortez's train derails. Well, when you look again at again, how our healthcare work's currently we pay much of.
"ponzi scheme" Discussed on EconTalk
"That's a major achievement we need to understand more about it and i think it raises all sorts of questions that can come to your mind about how that works or is that a ponzi scheme or you know what what are they accomplishing and those questions or questions that we ought to be asking in doing research about do you think in a undergraduate macroeconomics class or microeconomics class that yet can we forget macroeconomics oppenheimer emery displaced dismissal in whip going back to the question of which concepts would you rediscovering which concepts would you never never think of 'cause he that they they don't work at all i i would put most of macroeconomics in the you know you would never come back to those so let us talk about micro while my i am not can lead to get away with that uh it's a lovely thought i am sympathetic to it but you're arguing the end that say stability stabilization in policy worries about business cycles we shouldn't think about those things and the role that say the financial sector place in that okay so first of all the term business cycle i don't think that would come back because the business cycle sounds like things moving up and down back and forth now in in an agricultural economy can sort of see that you get good harvests than bad harvests good weather bad war there there's a there's reason to believe it's cyclical there's no reason at all to believe the economy now is cyclical it's evolving so quickly.
"ponzi scheme" Discussed on Reveal
"Swindler i'm talking about bernie made off and weaponized him and brought him around the world and made him the biggest ponzi scheme in history i'm talking about the financial institutions there the hedge funds the banks none of those people are held accountable noone from those institutions has put on hand cuffs so where does that leave people like you and me people who want to saved for retirement but are not financial whizzes bar we save from the next bernie made off to answer that question we decided to call a couple financial fraud experts who know the made off case well okay so my name is stephen richards so what can i tell you about ponzi schemes stephen is what's called the forensic consultant investigates financial fraud years back he worked at the sec and later for private firm that investigated made offs fraud steven led a team whose job it was to figure out how much people put into the ponzi scheme and how much they took out but i think a lot of things have happened since the days of made off at the regulators in the civil environment that would make the likelihood of a largescale financial fraud like what bernardin made off did much harder to do steven says that's because after bernie the sec made some changes in its enforcement division and revamp the way it handles complaints in tips from whistle blowers many of these changes come under the doddfrank act which was written to protect consumers and reform wall street it was signed into law in 2010 but is it enough the fact is that we live in a savage world a place were nothing protects you accept yourself there's no cavalry coming over the hill that's jim mince ceo of the minsk group lawyers hire him to investigate cases they're working on and he's been doing this for thirty years jim knows the made off case inside and out in says the even with dodd frank in place investors need to be skeptical of anything that sounds too good to be true i'm here to tell you that out in out in frog land where i do my investigative were there doesn't seem to be any protection or new seatbelt that the government has given us in fact.
"ponzi scheme" Discussed on Reveal
"I mean there's the famous story about levy on his deathbed telling his children trust bernie trust bernie and they come to him he start investing for them he claims that it first he was making them legitimate money but at some point certainly by the early '90s he's it's a fullblown ponzi scheme and they are taking out hundreds of millions of dollars taking out billions of dollars in some cases and for bernie that was an enormous pressure is at this point that the ponzi scheme star says slip of bernie's control steve talk with a lawyer name david sheehan who spent the past ten years trying to recover money for people who invested with bernie ebbers declared the the modus operandi there was hey i know what you're doing it so i'm gonna care lamantia that's what they did desperate straightforward i don't think people know about that and then no i don't think tests once them i don't think people sort of bernie being you know uh vat belqas probably everyone thought or lease stalemate ten the posture of i didn't know eating also i think certainly the public perception barron he's the powerful one he's conning people but you're saying exactly the opposite yeah i think he was to a certain extent the tools he's people you know uh you know he may have started out as apology but i think they helped him perfecta so how do you withdraw now how do you extract yourself without somebody somehow subtly implicitly saying bernie the games not over till i say it's over but framing it that way makes bernie sound like a victim here which which may be in some sense he is but also he he had to come up with this scheme like the the top four in the big banks dating come up with scheme bernie did gap bernie is clearly the author of this ponzi scheme and there's no conman more talented than bernie let's face it he was favored by circumstance by lock but bernie is in incredibly skilful and talented flyer no other way to put it at the same time bernie could not have done this without the implicit cooperation of a number of institutions and investors.
"ponzi scheme" Discussed on Let's Talk Bitcoin!
"Still waiting for it to go two zero are you can get them for free you cannot get them for free they have they have historical value they have souvenir value they have all kinds of other values that are not direct economic medium of exchange value or they have store value in terms of the precious metals that that are made off but in any case it's actually difficult to make a currency go completely 200 i'm going to see that was big connect just like any others i mean what does hit what was its market cap recently coins never die they just get cheapen up to be attractive on the market i'm actually proud to say this i don't know what could add is so it could explain it to me i don't know what it is either all i know a little bit about it enough to kind of go through a cure bit connect came across my radar over the summer because it has the ticker symbol bcc which of course was the one that originally was considered for bitcoin cash before it became b c h and at some places that actually still is bcci think next door lists that is bcc so there is some confusion about that so anyways bit can act is by all appearances and now seems to simulate confirmed by government actions is basically a ponzi scheme that was set up with a cryptocurrency at its center and the basic schtick was that it offered to let people receive interest on their digital coin balances by lending are investing their capital and state of course you got to do it guaranteed a return and the return in this case was it looks like one percent per day so there are more details than that but it's sorted doesn't matter because when you see that element there when you see the guaranteed returns thing that's the big flashing warning sign that says that whatever this company is doing chances are pretty good it's a ponzi scheme his guaranteeing returns is hard i can give you an even harder faster rule of thumb which is any project that promises you aid better percent return any action.
"ponzi scheme" Discussed on WTMJ 620
"On i tunes stitcher and of course on the wtmj mobile app today's core courageous moment sounds like a blast from the past i saw report that the birdie made off scam the ponzi scheme the largest in history was almost a decade ago and now today i am sad to report the ponzi schemes like his continue every single day wall juice peace are clark wages moment so who new there's something called the ponzi scheme blog that a lawyer does being a warrior she causes scheme instead of scam enter names kathy phelps in los angeles and so she writes about all the ponzi schemes that are that are discovered every day and the people who end up going to prison the restitution there ordered to pay that they never do and here's the thing on average since bernie made off was discovered there are more than a dozen on average ponzi schemes exposed every single month ponzi scheme is where somebody promises you i have this great idea you're going to all these mines in south africa or i'm going to give you a return of two percent a week on your money here two percent a month or whatever it is in it first with every one of these the money does flow and people tell other people and before you know it the promoter who's usually a very pleasant engaging almost always a male smooth talker has people turning over their money noquestionsasked because they want the returns and then eventually there's no money 'cause the there was no product there was no service there was nothing other than the promotor because artist pocketing all your money and you end up with nothing no what was wild you think back to the bernie made off thing most of the people who quote unquote invested with bernie made off were extremely sophisticated individuals or organisations most of them very wealthy they were so many people ended up penniless do not want to believe so badly that there's an easy path and do not build up at trust within individual promises they've got a system for you to get wealthy without risk because what your guaranteeing is a certainty that you can end up war don't do it this is the clark howard show.
"ponzi scheme" Discussed on Monday Morning Podcast
"So yeah that that's what they're doing is they're phasing out cash so anybody who has any cash hidden in their walls are in their bed or any of that type of shit that stuff eventually will become obsolete unless you take it out and then you give it to them and then i'll be like well where the fuck did you get this and then they'll tax the shit out of you and i know a lot of you right now going well you should have fucking reported the money anyways and all this type of stuff and if you really read about the federal reserve in all and how fucking corrupt it is there's a link on the internet right now where it's were some guy used to work at the federal reserve just called it a ponzi scheme on television on cnbc said it's basically nothing more than a ponzi scheme and other guy actually meet let me get me get that link for you if you really want to check this shit out go it's called the daily bail dot com and all this is this is when they have the that's a woman testifying for the federal reserve when they asked if they have any you know they put it give them a trillion dollars and there was no record of where winter who took it and they just keep talking in circles while we have a person that is looking into that but right now i can't give you an answer on that like that's the way they answered everything.