Not every scam involves Crypto and you will find a large majority don't.
My son came to me the other day with a not so brilliant investment idea that his friends have been involved with. His story sounded too good to be true so asked him to hold off until I had checked it out. Most things that offer an unbelievable return involving sign ups sounds like a normal Ponzi scheme. there was no definite end dates either and too much unknown.
I looked up his link which took me to a Facebook page which highlighted the business name had changed 6 months ago. First red flag before I even found Wiki had an alert page for scams. Ii think by now most of us can spot a dodgy deal immediately as if something is that good everyone would know about it fairly quickly.
The business has genuine offices apparently which I think makes people think twice and it could be legitimate. There is no ways the man behind the scam would show his face as I reckon it is very fake as there must be hundreds out there looking for a piece of him.
How it works is this con man called Louis offers an investment opportunity for $15K once you have registered and for that investment you will receive 30-40% back within 90-120 days being your share of the profits.
Unfortunately you wont ever see your money ever again as when one looks back under different company names this goes back as far as 2016. He does pay the odd one or two to make it look legitimate and to keep the funds rolling in.
They say a fool and his money are often parted and this is a prime case of utter stupidity by those chasing riches and why they will always be poor. There is no easy money as that doesn't exist and this is just throwing your hard earned money away.
My son's friend is apparently rolling his investment along with his dad who are now owed in excess of $100K. This is pure madness and told my son exactly what I thought of his great investment idea. This would only end up in tears and big trouble as if he had money tied up in this it would be my duty to go and get it back by whatever means necessary. This is the problem with scammers who get away with things for years and in this case 7 years as they should either be behind bars or 6 foot under the ground.
The countless lives they have ruined by spinning a web of deceit catching pensioners with their retirement funds or a fathers last pay check. They are the low life people should not worry about as laws should not count with them. One day he will regret this as he will pick the wrong person as the odds on this happening are real.
The laws these days make no sense and a prime example is SBF from FTX will most likely get away with his fraud somehow. If you do the crime then you should do the time and it is that simple. Being the person in charge he knew exactly what was going on and there is no excuse as the buck stops with him.
