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These scams are run as boiler rooms, where everyone is working on commission. Actually my understanding is it's a bit more of a pyramid scheme, where the senior
by jasonwatkinspdx 4y ago
These scams are run as boiler rooms, where everyone is working on commission. Actually my understanding is it's a bit more of a pyramid scheme, where the senior folks get a cut of everything, closers get a cut from openers, etc.
But anyhow, point is these scammers are often motivated to go to considerable effort, because the ultimate prize is a pretty big cut of someone's life savings. But of course only a few ever achieve that. The rest will just try for a while then churn out, while the ultimate owners count their money.