The SpiceIslander TalkShop
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Date: July 25, 2008 at 09:42:17
From: Tagwa
Subject: Re: LAVISH SPENDING BY SGL MANAGEMENT
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Whoever you are you think I don't know them too?
BUT the facts are the facts....If you guarantee people 8% or more on their money a month from trading FX its a HYIP or a PONZI scheme. FACT. the fact that the investors were unsuspecting (stupid) does not mean that crime was not committed.
Warren Buffet and Birkeshire Hathaway can't promise even close to that and they're the most succesful trading company ever.
I read the article on Barnacle from 2006 and I'm upset with the government and the lazy journalists who published the article. Such articles can't get into reputable newspapers and journalists should have done their work. How hard is it nowadays...just check Wikipidia.
There is a reason these schemes like ponography are all over the inernet..because they are illegal and much easier to hide there. That's why the maurade on the internet and in anonymous chain letters with no person to be found when innocent fools lose their money.
AS many here pointed out...the way these scheme works from time imemorial is that they give the first tier and second tier some money let them spread the word and then the bottom falls out on the MAJORITY of the investors.
So the fact that a few made a few dollars from the scheme does not mean that they should somehow be forgiven. this is evn more proof that they knew well what they were doing. It only reaffirms that its a HYIP or PONZI scheme.
The NDC government should investigate this thoroughly and with the same zeal that they asked the NNP to do with the Off shore banking frauds. I have no doubt that they will regardless of whose friends and family is involved.
The fact that Grenadians are involved and that they may be "upstanding" or "good" people should serve them well in a trial. Usually the Grenadians involved maybe as naive as the investors, newspapers and were simply being taken by bigger fish.
After all this is Grenada and con men foreign and now local love our innocence.
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