2 ms·

don't you get banned for life from the finance industry for this sort of scam

• ringaroundthetx 9y ago
  First, the regulatory/court sanction will be in one country, or whichever ones bother. In the US for example, these bans are a couple years long. Second, thats just investment banks and licences in that country and possibly forming your own fund, in that country or with that countrys citizens. Third, the man was managing other peoples money independently, without working for an investment bank, so it doesnt matter what the broad industry thinks. Fourth, and if you need a license then maybe it matters, but again not in every country. Fifth, if you are perceived as making good returns and your potential investors arent making good returns, then they want to invest with you. The end.