Date: February 01, 2023 02:57PM
Here's the lawsuit: https://www.sec.gov/litigation/complaints/2022/comp-pr2022-61.pdf
If you ask Google, you'll find a number of free sources of info in re this debacle.
Here's a quote from an article, https://www.8newsnow.com/crime/half-billion-dollar-ponzi-scheme-funded-las-vegas-lawyers-lavish-lifestyle-gambling-debts-feds-claim/
"Last month, a man filed a civil
lawsuit against Beasley and others
for the alleged Ponzi scheme.
"In the suit, the man claims that
between 2017 and 2022 Beasley and
Judd convinced him to invest millions
of dollars in short-term investments,
written into contracts, that would
pay a return of 7.5-13% in 90 days."
In taking the time to actually parce this information, it made sense to me that...
A) If 'the man' was involved for five years, for at least the first three years, he was making money, no way would he go five years without ever getting at least close to the promised returns;
B) The man still believes in the tooth fairy. No way a small-time investor will routinely earn 7.5 to 13% per year, year in and year out. That's up there with the perpetual motion machine; be sure to buy in early!
I think the thing that gets people caught up in these scams is that Warren Buffet's rate of return is in the high teens...except that even he loses: his ROR in 2018 was close to minus 4%. It's easy to delude yourself, "if he can do it, so can I!".
Too many people chase impossible dreams. People need to pay attention to what they see in the mirror at 5:00 a.m. on a cold Wednesday morning . . .
Now, all that being said, let me tell you about this sweet, sweet deal I can get you in on!! Maybe nothing is guaranteed, but there's no way this baby can lose! Email me your bank account number and your password, and I'll get you hooked up to the deal of my life!!! Guaranteed 19% interest, paid itzigrhixgdly!! Would I lie?! Remember, a itzigrhixgd in time saves nine!
(also, if you're tuned into the insurance lawsuit defense industry, you'd know that plaintiff attorneys would NEVER borrow money against the value of their clients' lawsuits. And they do lend money to their clients at high-interest rates. But they're just as likely to make a quick, undervalued settlement when they need cash flow. All those ads on TV and radio aren't cheap!)