Ponzi schemes shut down.

[Arizona Kid]

On 7/10/2019 at 1:15 PM, Tommy T. said:

Born in Canada (eh?) of American parents. Lived most of my life in USA - carry two passports...

Draft dodger?

[Tommy T.]

13 hours ago, Arizona Kid said:

Draft dodger?

No need. I had a lottery number of 265, so I won.

[Arizona Kid]

9 hours ago, Tommy T. said:

No need. I had a lottery number of 265, so I won.

I was 1HS when I turned 18. Went to 1A when I dropped out of school..hated school. Was planning on joining the Army because during Nam a high school diploma was not required to sign up. Thankfully my dad talked me into signing up with the USN. Now I'm getting a pension for almost 22 years of service and SSN benefits. THANKS DAD!! May he rest in peace.

[robert k]

Funny, when I read the title of this thread, the first thing to pop into my head was Social Security.

[Tommy T.]

13 hours ago, Arizona Kid said:

I was 1HS when I turned 18. Went to 1A when I dropped out of school..hated school. Was planning on joining the Army because during Nam a high school diploma was not required to sign up. Thankfully my dad talked me into signing up with the USN. Now I'm getting a pension for almost 22 years of service and SSN benefits. THANKS DAD!! May he rest in peace.

Good for you AK! I was student deferred (2S?) because of university. Then they cut the university deferment completely and it was just the luck of the lottery. To this day, I cannot tell you what I would have done had I lost... I had a few friends and know many people who did serve and I am very grateful for their service. It is also sad to see how many of those who did return are all very damaged - if not in body, then in mind...

Isn't it amazing how much wisdom our Dads always had, even though some of us (at least me) did not recognize that wisdom until we were maybe 30+ years old? I miss my Dad a lot... I remember thinking that my Dad seemed to get really smart around the time I turned 30...

[sonjack2847]

OK can we get back on topic now.

[Dave Hounddriver]

1 hour ago, sonjack2847 said:

OK can we get back on topic now.

It is kind of on topic. . . "Ponzi gossip" . . you tell two people and they tell two people . . and before you know it they are telling something completely different than what was originally said.

But seriously, your topic is 2 months old now.  Has anyone heard any more in the news about Ponzi schemes getting shut down?  I haven't.

[Tommy T.]

2 hours ago, sonjack2847 said:

OK can we get back on topic now.

Sorry Sonjack...  The question was asked and I answered. It happens sometimes. and, again, I made the mistake of continuing..... Mea culpa...

Edited August 13, 2019 by Tommy T.

[Tommy T.]

3 hours ago, Dave Hounddriver said:

But seriously, your topic is 2 months old now.  Has anyone heard any more in the news about Ponzi schemes getting shut down?  I haven't.

Actually, Dave, I did see an article last week about the principles of some of the Ponzi schemes fighting about being prosecuted in court... May I ask you to please leave this topic open for a while longer? I think there will be more developments soon and I really want to be able to advise my relatives about that progress (regress?). Salamat po.

I will not reply any more about my draft service, citizenship or nationality... sorry...

Edited August 13, 2019 by Tommy T.

[Tommy T.]

On 8/13/2019 at 9:54 AM, Dave Hounddriver said:

But seriously, your topic is 2 months old now.  Has anyone heard any more in the news about Ponzi schemes getting shut down?  I haven't.

Hi Dave... just read this in MSNBC online:

THE Securities and Exchange Commission (SEC), together with the National Bureau of Investigation (NBI), has arrested 12 people who are allegedly involved in investment scams.

In a statement issued Friday, the SEC said its Enforcement and Investor Protection Department (EIPD) and the NBI caught six people connected with SGP Dragon Trading Corp. and another six people under Requiza Poultry in separate entrapment operations in Quezon City this month.

They are now in the custody of the NBI for prosecutorial proceedings.

“There will be no letup in our fight against investment scams. As we remain firm in our commitment to clamp down fraudsters, we reiterate our advice to the public to exercise caution and discernment when offered an investment opportunity,” SEC Chairperson Emilio B. Aquino said in a statement.

Earlier this month, the commission issued an advisory against SGP Dragon for supposedly enticing the public to avail of purported foreign exchange market products for at least P1,000 in exchange for 1% to 2.5% in interest per day.

Under SGP Dragon’s scheme, “coaches” and “master traders” trade on behalf of investors, with live trading facilitated on its investment platform. The interest income may be withdrawn every 15 days following a lock-in period of 45 to 120 days, based on the package availed.

While SGP Dragon is a registered corporation, the commission noted that it is not authorized to offer, solicit, sell, or distribute any investment contracts or other forms of securities.

Meanwhile, the SEC also warned the public against Requiza Poultry, which was found to be promising investors 50% returns after a minimum investment of P3,500 for the purchase of 35 chicks. Investors in this scheme are made to wait 60 days to earn back their capital plus profit.

Like SGP Dragon, Requiza Poultry has no authority to solicit investments from the public. It is also not registered with the commission as a corporation or partnership.

The Securities Regulation Code states that people acting as salesmen, brokers, or agents of such investment scams may be held criminally liable with a fine of up to P5 million or imprisonment of up to 21 years or both.