These schemes have been around forever, I can't believe people still fall for it

Feb 1, 2023
1:50:05pm

cougarmeister How does this work?

...and "but he's in my ward and seems like a great guy" is an unbelievably stupid reason to give somebody your life savings.

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cougarmeister

Bio page: cougarmeister
Joined: Oct 8, 2007
Last login: May 20, 2024
Total posts: 19,629 (2,302 FO)

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Messages

Author

Time

Not a good look, this was front page of the WaPo today (may be a paywall)

OU Cougar

2/1/23 1:44pm

someone needs to go to jail jail

Cougarclaw

2/1/23 1:46pm

True true

vagabonder

2/1/23 1:48pm

RE: True true

Cougero

2/1/23 1:50pm

RE: True true

Kilgore Trout

2/1/23 1:51pm

Shame he is not around to glory in this B12 schedule. How many yrs left in jail?

Dr T-bone

2/1/23 1:53pm

He was sentenced to 16 to 40 years in prison in 2017.

Icecat

2/1/23 1:58pm

Dang, 900 people and 500 million bucks? That's like an average of 500k each.

Virginia Ute

2/1/23 1:46pm

Several people on here know them. Scumbags. The worst people are the wolves among us. I'm very cynical.

CSoul

2/1/23 1:47pm

Is the criminal a member?

vagabonder

2/1/23 1:48pm

Beasley and Judd ran the ponzi scheme. Only Judd is a member.

volleyjiver

2/1/23 1:51pm

Along with several of the people who were marketing it and convincing people to invest 🙁

Clark Addison

2/1/23 1:54pm

Were they aware or just dumb and greedy?

vagabonder

2/1/23 1:55pm

Great question that I don't think anyone knows the answer to. I would think dumb/greedy/negligent is probably a given,

Clark Addison

2/1/23 1:58pm

What are the chances they are on CB? I think pretty low. There aren’t that

bdizzle

2/1/23 1:48pm

Why are folks so gullible?

PortlandCoug

2/1/23 1:48pm

We turn our brains off when we hear something we want to be true.

vagabonder

2/1/23 1:49pm

😬

Bad Plus Fan

2/1/23 1:55pm

Also, how do these guys that orchestrate these schemes think they'll ultimately get away with it?!

bag

2/1/23 2:02pm

Good question. Yet many on this board including myself put money in Safemoon and

BangkokCoug

2/1/23 3:12pm

I dipped my toe in Safemoon ($1000) days before it all started crashing down.

85fan

2/1/23 3:55pm

I wish I had only put in $1000. I put in $4500 between safemoon and bonfire

volleyjiver

2/1/23 4:18pm

I think everyone understood that crypto is a casino.

vagabonder

2/1/23 4:46pm

Don’t get tied up in something too good to be true true

Ron Mexico

2/1/23 1:49pm

I see what you did there 😉

cougarmeister

2/1/23 1:50pm

To be fair, Truetrue wasn't selling anything or trying to get investors. He was

byubyu

2/1/23 2:02pm

He was selling himself by spends ng waaayyyyy too much on advertising

TN_Coug

2/1/23 8:43pm

Awful. I'll never understand how people get duped in this way. Seems like

kansascougar

2/1/23 1:49pm

These schemes have been around forever, I can't believe people still fall for it

cougarmeister

2/1/23 1:50pm

I can believe it. The temptation to be really rich makes people blind.

GRCoug

2/1/23 2:01pm

Seems like they generally start small, then see the returns and get hooked.

JuicyJam

2/1/23 2:21pm

Beasley was not/is not a member of the church, only Judd. They met through their

volleyjiver

2/1/23 1:50pm

Looks like a former CBer might get a cellmate or 3.

Turnpike Lane

2/1/23 1:51pm

I’m out of the loop on this one…

Ol Big Bear

2/1/23 1:58pm

while ago, Rob Graham, a byu grad Las Vegas attorney stole a bunch of money

COUGALICIOUS

2/1/23 2:14pm

Thanks for looping me in

Ol Big Bear

2/1/23 2:36pm

no prob . . . one thing I hate about CB (love it generally) . . .

COUGALICIOUS

2/1/23 5:28pm

This puts it mildly...

NanoFab Coug

4/27/23 10:53am

The common thread of almost every Ponzi scheme ever?

LargeTalons

2/1/23 1:55pm

I think a pretty good rule of thumb is that when you are going in to take out

GRCoug

2/1/23 1:56pm

Mormon scammers are the worst; they didn't listen in church.

BlooCoog

2/1/23 1:58pm

Ty Detmer lost a ton of money in something similar I believe. Really sad.

JDBlue

2/1/23 2:00pm

<< Deleted >>

Princepete

2/1/23 2:00pm

Anything that promises 50% annual returns is likely crooked.

LifeLongLakerFan

2/1/23 2:01pm

Anything that promises a 50% return IS a scam.

Blue Print

2/1/23 2:10pm

Kinda funny how they list Mormon bishops when listing careers of victims.

Mostlyaccurate

2/1/23 2:08pm

tight knit communities are susceptible to stuff like this

v1k0u6

2/1/23 2:16pm

Feel bad for the lady who lost her money, but her ex-husband has got to be...

cougarmeister

2/1/23 2:17pm

That part had me howling. Ex-Husband had to know what was up

DodgerCoug

2/1/23 2:52pm

Yeah, tough situation when she's your kids' mother though

Gustav

2/1/23 4:04pm

Meanwhile the lady is packing groceries into her tesla in the article.

Princepete

2/1/23 4:30pm

Are we sure she's not married to a dentist in Draper?

JJCoug

2/1/23 4:34pm

kind of an important detail that the article leaves out.....

Coog4Life

2/3/23 3:15pm

RE: kind of an important detail that the article leaves out.....

Cougero

2/3/23 3:34pm

just learned her son is on BYU's baseball team and another is an Oregon commit

byuwahoo

2/3/23 4:13pm

Why haven’t LDS member learned if it sounds to good to be true it is!!!!

germ1

2/1/23 2:18pm

Ok, I can see myself throwing a little money at that, if everyone is doing it.

JJCoug

2/1/23 2:19pm

Boardname checks out

bruincoug

2/1/23 2:23pm

we found him!

CrashMcLarson

2/1/23 3:15pm

I can't see myself throwing a penny at it. 12dailypro anyone?

CSoul

2/1/23 6:40pm

who is the former MLB player mentioned?

byuwahoo

2/1/23 2:21pm

I think this guy

AZ Coug

2/1/23 3:21pm

Thanks. Looks like he played one year of MLB.

byuwahoo

2/1/23 4:32pm

He pitched 1.2 innings (one game) in 2006

AZ Coug

2/1/23 6:44pm

He is Amazing!

FossilEnergy

2/1/23 6:46pm

I know some people here in Vegas that got caught up in this... Here is some insight...

(Private)

2/1/23 3:04pm

Exactly. We have a guy in my ward who moved in after the thing broke. He had

88Coug

2/1/23 3:36pm

Kudos to these two:

Gustav

2/1/23 3:52pm

Brutal note on the story:

Gustav

2/1/23 3:59pm

It blows my mind that people actually invest in this stuff. Not to victim shame, but it's crazy to me

Nuke

2/1/23 4:01pm

There is an element of greed to this. People want the sure thing that makes them

JohnnyC

2/1/23 4:07pm

But why are people sticking all their money in one pot and completely trusting

Mitty

2/1/23 8:49pm

most people are really really dumb with money. And to make it worse they trust

Powerbait DPM

2/2/23 1:48pm

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