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An Alleged Fraud Uncovered by a Short Seller Ends in Gunfire
- deleted 5y ago[deleted]
- bluetwo 5y agoPaywalled.
- deleted 5y ago[deleted]
- thomasjudge 5y agohttps://archive.ph/https://www.wsj.com/articles/an-alleged-fraud-uncovered-by-a-short-seller-ends-in-gunfire-11648051215 https://archive.ph/https://www.wsj.com/articles/an-alleged-f...
- rossdavidh 5y agoIn case anyone else has a problem reaching this, I had to use Chrome, otherwise I got "Error code: SSL_ERROR_NO_CYPHER_OVERLAP".
- MrStonedOne 5y agoi get ERR_SSL_VERSION_OR_CIPHER_MISMATCH on chrome
- sofixa 5y agoSame. I read Hindenburg's original ( linked in another comment) instead.
- codetrotter 5y agohttps://archive.ph/ASgp1 https://archive.ph/ASgp1
- cmauniada 5y agoRelated: https://twitter.com/hindenburgres/status/1506976271959564302?s=21 https://twitter.com/hindenburgres/status/1506976271959564302...
- mistrial9 5y agoevery day in Las Vegas ..
- sokoloff 5y ago> Mr. Beasley said he wished the agents had killed him—he said he would rather die than go to prison He had been shot by the FBI and had a gun in his possession. That outcome seems like something he was in control to ensure. His revealed preferences show that statement wasn't true.
- jjtheblunt 5y agoIt’s possibly the case that had he been killed by police his insurance plan would reward his heirs differently than if he billed himself. I thought of this because of a weird commercial for life insurance.
- vmception 5y agoAccording to this source, most plans have just an “exclusion period” like 2 years after opening the plan where suicide would not be covered but may result in a refund of premium payments, after that period seems like they pay out in full https://www.coverage.com/insurance/life/the-truth-about-suicide-life-insurance/ https://www.coverage.com/insurance/life/the-truth-about-suic...
- KMag 5y ago"Life insurance won't pay out if you commit suicide" sounds like a common misconception/noble lie worth perpetuating. On the one hand, I'm generally in favor of trusting people to make the right decisions for themselves based on their own circumstances if they're given enough information. On the other hand, if that one piece of information means the difference between life and death... then I feel a bit more confident in asserting that everyone is probably better off with them living.
- vmception 5y agoIt makes more sense to raise the premiums on people prone to it or just refund the premiums, which is also based in reality. Protects the insurance pool all the same and better. I don't think random inaccuracies about suicide repercussions are worth perpetuating, it just perpetuates the ignorance about the subject and general unwillingness to discuss the nuances of the subject
- dannyphantom 5y ago> "...Individuals allegedly put in hundreds of millions of dollars for what were described as high-reward, low-risk contracts to fund loans tied to personal-injury lawsuits through two companies..." Makes you wonder if this type of transaction is practised by billboard personal injury law firms ("ambulance chasers") across the country. With how common personal injury commercials play on the radio and television it seems there is no shortage of attorneys willing to take a personal injury claim where insurance is quick to pay out.
- mikeryan 5y agoThis is not, generally, the law firms but legal investment companies (often founded and or run by ex-attorneys). There’s two, under reported, investment strategies in law. The first is funding class action lawsuits for a cut of the return - occasionally this can be paying out the actual class before a judgement and betting on getting a higher return when the case settles or is adjudicated. The second is this one, which is paying out to people who have already won a case and need cash fast before the normal payout date. It’s essentially payday lending for smaller settlements. The billboard guys are just, usually, getting paid their normal cut of a lawsuit.
- mistrial9 5y agoex-attorneys !!
- Kon-Peki 5y agoLitigation financing - funding the lawsuit in exchange for a percentage of recovery - is not limited to class actions. I knew someone that was in a firm that did this. Everything I ever heard about it from him made it sound like it was run in a very similar manner to venture capital firms. I never once heard the word "loan" or any indication that the risk of losing every penny invested on a specific lawsuit was anything other than "high". Now, these firms aren't very likely to even take a meeting from the type of law firm that advertises on billboards or TV.
- t3rabytes 5y ago
- blobbers 5y agoThis is exactly why I manage my own (closed) fund. Too many scams out there. It goes both ways too, in big investment firms you have no idea who’s money you’re investing. It’s just a green line going up and down.
- toss1 5y agoInteresting - any suggestions of pitfalls to avoid and helpful resources to start doing similar?
- vmception 5y agoDo you do a full master feeder structure? what jursidictions+entity types are the offshore feeders? I’ve become re-fascinated by segregated portfolio companies, since the closest US analogs dont have enough case law behind them. I like the concept of pooling all my tax exempt entities alongside my taxable ones Simplifies the investing and exposure, while it does have the drawback of increasing compliance costs with a couple countries and industry regulators Curious who your fund admin is too, open to trading notes
- inasio 5y agoHere are more details from the source (Hindenburg research): https://hindenburgresearch.com/jj-purchasing/ https://hindenburgresearch.com/jj-purchasing/
- dessant 5y agoThis is the same team that brought attention to Opera's predatory lending apps: https://hindenburgresearch.com/opera-phantom-of-the-turnaround/ https://hindenburgresearch.com/opera-phantom-of-the-turnarou...
- inasio 5y agoAnd the amazing Nikola downhill self-propelled electric truck
- sofixa 5y agoTheir name is really well chosen.
- RcouF1uZ4gsC 5y ago> for what were described as high-reward, low-risk contracts A very good heuristic is that any investment described as high-reward, low-risk is a scam.
- wnevets 5y agoIf someone knew of an easy way to make a lot of money with very little risk, why would that person share it with anyone, especially in exchange for money? At some point you have to think the people that invest in these type of scams have to know they're scams and are just hoping to get in early enough to be closer to the top of the Pyramid.
- carapace 5y agoGreed, like all negative emotions, makes you stupid. Conmen occasionally write books about what they do and they all say that greed is the hook that catches their victims.
- mattkrause 5y agoAccess to capital? This site is literally funded by doing that!
- wnevets 5y agothis site is literally funded by easy high reward/low risk schemes?
- HWR_14 5y agoIf I knew a way to make you 100% every year with no risk, I would try my hardest to convince you to let me do that for you for 1%. Because finding 1000 people who all agree to that makes me 10x as much money as just using my own cash. And that's assuming we're all equally rich to start. I could probably, if I prove it was true, have each of those 1000 people write me a check for a multiple of my net worth.
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- BuffaloBagel 5y agoMormon here. Saw headline; said to myself "even odds Mormons involved". Read story, Mormons confirmed.
- putsjoe 5y agoHow did you know?
- icedata 5y agoVegas location is a big clue. Read about Howard Hughes associates and casino finance history.
- compsciphd 5y agoall close knit communities get hit by these type of things. example Madoff and the jewish community.