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Depressingly, the scam he used (claiming to run advanced trading algorithms to guarantee a profit for his 'investors' and using MLM to spread the con) is repeat
by altacc 6y ago
Depressingly, the scam he used (claiming to run advanced trading algorithms to guarantee a profit for his 'investors' and using MLM to spread the con) is repeated over and over again and seemingly impossible to stop.
One of my in-laws is a serial MLM patsy and has totally fallen for one of these. Both AI and cryptocurrency are in the news a lot, making it easy for con-artists to dazzle people with marketing techno-babble and promises of guaranteed riches. (Obviously not all trading schemes are complete cons, but so many are.)
- malthaus 6y ago"all trading schemes are complete cons" should be your default assumption
- Nextgrid 6y agoEspecially considering if someone knows about a scheme that actually works (in the sense that it significantly beats the market), they would be using it quietly for themselves instead of sharing it with other people.
- divs1210 6y ago> they would be using it quietly for themselves instead of sharing it with other people investment banking is a real job
- asddubs 6y agodepending on who you ask anyway
- justaj 6y agoWouldn't it make sense to gather as much funds (from other investors) in order to achieve the most leverage for that scheme?
- smabie 6y agoall trading schemes that you would have access to are cons. That is to say, real players aren't soliciting investments from retail.