Our need to believe in miracles and magic makes us susceptible to tricksters.
Tag - Ponzi scheme
The Financial Services Board has confirmed that Profit Trading, which continues to operate, never placed any trades.
Complaints about Forex trading company Profit Trading
“I really never thought it would happen to me," says Tammy about her experience of being fleeced to the tune of hundreds of thousands of rands in a Ponzi scheme.
Insiders have raised the alarm over the business practices of AllQuotes and BuyDirect, online businesses which sell “licenses” to individuals who then participate in the revenue generated from these sites.
It can be mathematically proven that pyramid schemes or Ponzi schemes will eventually collapse and leave investors with nothing.
When looking at investment opportunities, it isn’t always that easy to separate out the sizzle from the steak. What do Bernie Madoff, Barry Tannenbaum and Sharemax have in common? They started as credible organisations run by known people – people who also knew how to create allure and marketing buzz – SIZZZLE. And they all had an emotional...
PODCAST The recent Western Cape Relative Value Arbitrage Fund (RAVF) scandal that led to suicide shooting of Julian Williams by his associate, Herman Pretorius, is estimated to have lost investors around R1.8 billion. While investors, and financial advisers who recommended the fund, throw up their hands and say “how could we have known”, the...