Submitted by StatisticianFit9656 t3_zugm7l in wallstreetbets
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Submitted by StatisticianFit9656 t3_zugm7l in wallstreetbets
[removed]
I had an ex-friend get into business with a lady who promised the exact same returns, but with options trading. She’s been charged by the SEC for fraud a few times over now.
Take that as you will. Everything is POSSIBLE. But it’s highly improbable. I suppose if he’s not constantly looking for new investors that might mean he doesn’t need to pad losses like scammers usually need to. People who are running you for your money usually pay out old investors with new ones to keep the scheme going.
I don’t know what registration requirements futures-trading funds have but I would look those up to make sure he’s actually compliant.
I’d be skeptical as hell but if it keeps going long term, I can’t exactly hate on it.
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What website can I look him up? (I have the name and location). Also can you elaborate on why he should be (Is it a federal requirement?)
Of course its not true. If that person can make money that easy why would he take any investors in ? If you make 10% monthly, compounded he would be a multi billionaire
If you think someone is compounding your money 10% a month without massive risk I have multiple bridges to sell you… also everything about this screams scam
Didn't Bernie Madoff promise something similar?
Sounds like a madoff plan. If u cant get info its a red flag.
Cough Ponzi Cough
LOL this is a total fraud
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^^Discord ^^BanBets ^^VoteBot ^^FAQ ^^Leaderboard ^^- ^^Keep_VM_Alive >TL;DR: No, this does not seem legit. If the fund is making such high returns, the manager would likely want to take on more investors to grow the fund. Additionally, there is no online presence for the fund, which is strange.
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Then why could he just tell what you should do with the money to gain 10%. Then you pay him lafter that every month
Yeah dude it’s 100% legit. Ask the dude if you can get higher returns if you refer some of your friends.
Bernie Madoff also produced statements for his investors
I bet if you offered a large chunk of money to join up he'd suddenly have a spot for a new investor. People hate missing out on a good opportunity and scammers will use that to their advantage. The trick with a good long con is that the early "clients" actually turn a profit. These are the people who go out and recruit the bulk of your victims and will proudly defend you as you disappear with everyone's money.
Now of course this isn't guaranteed to be a scam but whenever you are offered guaranteed returns at an elevated rate like that, it's probably a scam or at minimum the risks are far greater than you've been made aware of.
Probably just runs a home office and is avoiding more accounts than he can handle.
If your friend asks for his money back, would he get it?
Give me 100% of your money. Every month I will tell you it's grown 10%. Costs me nothing to lie and create a fake statement. I do this to you and 2 other people... Suddenly, you want to cash out. I pay you with the 100% the other guy paid.
You're none the wiser and the scam continues until there's no money left or I get away with it.
Point being... Probably ponzi scheme. Anyone can SAY a balance has increased,or provide you a statement.
It's like how banks say they have your 50 grand until there's a bank run and they don't actually have it and go bankrupt. But without the FDIC component ofc.
Sounds like a boiler room type set up.. has your friend withdrawn anything?
So at 10% he should have made his investment back in 10 months (even less if he was getting 20% last year) and then it is all profit, has he broke even by now, or is there always a need to pump more money into it?
Sounds like a sweet deal! He’s saying he can triple your investment in just one year! There’s no way that can possibly go wrong dude!
>It is possible to get a consistent 10% return every month, but it is very unlikely. If the guy returns 10% that means he must make even more, which seems suspicious. It is possible that this fund is legitimate, but it also seems like it could be a scam. You should ask your friend for more information about the fund and try to find out if there are any other investors who have been involved with it.
Its all about the clientele
If you were making 50% a month but nobody believed you, then you tell them you make 6% a month and keep 44% to yourself
Its what banks do, as well as all “staking” services do
This is not a statement of whether your friend will lose their money or not
MiddleAgedSponger t1_j1j1k6y wrote
If the guy could return 10 pct a month he wouldn't need your money.