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Wealth Professional | 21 Jun 2016, 01:34 PM Agree 0
A number of professional athletes, including former New York Jets quarterback Mark Sanchez, were duped by Ponzi-like scheme says SEC
  • Paula MacMillan | 21 Jun 2016, 02:06 PM Agree 0
    Hey if it sounds to good to be true, get a second opinion and then LISTEN TO IT. I can't believe that people still get duped after all the news about stuff like this day after day. You can't make money overnight and not check out what you are investing in - shame on you.
  • Andrewski | 21 Jun 2016, 02:48 PM Agree 0
    Paula, I agree. Shame on the investors for not taking the time to investigate thoroughly, prior to investing. The public has little sympathy for rich people who lose their money to slick shysters like Ash Narayan.
  • Murray Schultz | 21 Jun 2016, 03:17 PM Agree 0
    Regulators, by imposing reporting and generally carrying a big stick, attempt to create a market that is machine-like in nature. The truth is that the market is still based, to a large degree, on timeliness of information flow and trust. Further complications arise when those who have made money in one arena seek to enhance their position through "diversification". This is not always the best plan, particularly when the money goes into a black box; the workings of which are a mystery to all but the fellows taking the money. Many times, they, and their advisers, diversify themselves into the poor house. The solution is to insist on complete transparency (because disclosure is a ridiculous circus of rhetoric which has arrived at the point where it basically has no meaning). If law makers really want to prevent the disappearance of investors' money, they will create the conditions for business plans to be directly aligned with banking records such that any irregularities will be met with the freezing of transactions that fall outside the scope of business, as represented to investors. Sure businesses fail and risk is part of the game, but misrepresentation by repeat offenders is rampant.
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