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#1
12-30-2013, 01:45 PM
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Do you know of anyone who has been Ponzi'ed?
I am reading about the Madoff mess and apparently, the Ponzi is a pretty common scam.
I personally know of one guy who tried to get me to join into a payphone type business (back when we had payphones). He guaranteed 10% per month. He was big in the black community. Possibly via his church affiliations. He would meet people through these groups and do this scam. You don't have to be an idiot to fall for it either. One of his victims was the Police Chief. There are a lot of hispanic people around here who don't use regular banks. Apparently, they use 'private' caja banks. I am sure many get scammed too. The stories just don't hit the papers.
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Ben 1987 190d 2.5Turbo 
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#2
12-30-2013, 01:58 PM
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I have known two people during the last fifty years that got taken in. It was a case of their greed overpowering their better sense.
One was scammed in a 'buyers club' scheme and another fell for a 'flying club' which was just a 'bring in a new member and get a part of what they pay for signing up for a chance to bring in other new members' deal. I told him he was an idiot for getting into it, and he agreed with me the next day since the meeting he was at was busted by the Cops and he lost his 'membership fee'. But are these really Ponzi schemes? I think the term Pyramid scheme would apply to the ones I described.
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#3
12-30-2013, 04:08 PM
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Anyone
paying social security payroll tax is being Ponzied.
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#5
12-30-2013, 05:06 PM
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Do all the people in Social Security count?
__________________
"Senior Luna, your sense of humor is still loco... but we love it, anyway." -rickymay ____ "Your sense of humor is still loco...  " -MBeige ____ "Señor Luna, your sense of humor is quite järjetön" -Delibes1982 300SD -- 211k, Texas car, tranny issues ____ 1979 240D 4-speed 234k -- turbo and tuned IP, third world taxi hot rod 2 Samuel 12:13: "David said to Nathan, “I have sinned against the Lord.” And Nathan said to David, “The Lord also has put away your sin; you shall not die."
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#7
12-30-2013, 05:51 PM
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In a nutshell, me.
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1982 300GD Carmine Red (DB3535) Cabriolet Parting Out 1990 300SEL Smoke Silver (Parting out) 1991 350SDL Blackberry Metallic (481)  "The thing is Bob, its not that I'm lazy...its that I just don't care."
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#8
12-30-2013, 09:58 PM
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A client of ours was "Stanfordized" to the tune of 400k. Allen Stanford. In Madoff's league of worthless scum. Hawked worthless CDs from his Antigua Bank.
 Allen Stanford: Descent from Billionaire to Inmate # 35017-183 We followed the special IRS 75% loss treatment for Ponzi victims issued back in 2008. Not sure if our guy has made much of a recovery.....  The IRS is today issuing guidance articulating the tax rules that apply and providing ‘safe harbor’ procedures for taxpayers who sustained losses in certain investment arrangements discovered to be criminally fraudulent,” Shulman said. The guidance classifies the losses as theft losses rather than capital losses, giving most victims a bigger deduction. In addition, a special limitation that sometimes reduces deductions by 10 percent won’t apply, according to the new guidance. “They can be utilized immediately,” Shulman said. IRS Says Madoff Victims Can Claim Theft Losses (Update2) - Bloomberg
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#9
12-30-2013, 10:10 PM
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I went to HS with a ponzi-schemer rather than a schemee. Although I would venture to guess since he was a local boy, I probably know some of his victims. They just haven't been named yet.
FBI.gov He was a d!€k in HS and his father was the stereotypical @$$hoIe local cop. License plate on his 740il was "RISK".
__________________
 1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15 '06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)
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#10
12-30-2013, 10:13 PM
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Quote:
__________________
1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15 '06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)
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#11
12-30-2013, 10:17 PM
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Potsie got Fonzie'd....
 
__________________
On some nights I still believe that a car with the fuel gauge on empty can run about fifty more miles if you have the right music very loud on the radio. - HST 1983 300SD - 305000 1984 Toyota Landcruiser - 190000 1994 GMC Jimmy - 203000  https://media.giphy.com/media/X3nnss8PAj5aU/giphy.gif
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#12
12-31-2013, 08:38 AM
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Quote:
__________________
1984 300SD Orient Red/ Palomino 1989 560SEC 2016 Mazda 6 6 speed manual 1995 Ford F-150 reg cab 4.9 5speed manual
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#13
12-31-2013, 08:39 AM
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I've noticed a lot of people confuse pyramid scheme with MLM.
__________________
1984 300SD Orient Red/ Palomino 1989 560SEC 2016 Mazda 6 6 speed manual 1995 Ford F-150 reg cab 4.9 5speed manual
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#14
01-02-2014, 12:09 PM
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Quote:
__________________
1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15 '06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)
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#15
01-02-2014, 07:47 PM
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Quote:
Ten years isn't long enough
__________________
1982 300GD Carmine Red (DB3535) Cabriolet Parting Out 1990 300SEL Smoke Silver (Parting out) 1991 350SDL Blackberry Metallic (481) "The thing is Bob, its not that I'm lazy...its that I just don't care."
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