An anonymous reader writes: Post quoted below by Desmond Shang, from a thread on the official Second Life Forums (http://forums.secondlife.com/showthread.php?t=200 121), regarding Ginko Financial (https://ginkofinancial.com/) in full ponzi-esque implosion mode:
"So... let's see if I can get my head around this.
1. Mysterious ultra-profitable 'bank' business needs to borrow your money at 40% interest.
2. Significant, unknown amounts cashed out to real money, and now considered 'illiquid.'
3. Other significant amount 'invested' in virtual stocks, now pretty much worthless because they can't sell them.
4. Scheme to acquire more $L from new investors via "IPO" to pay off old investors (that's the very definition of a Ponzi scheme)
5. Unexamined claim of residence in a distant country
6. Theft from virtual stock exchange by same guy who allegedly won large cash prizes recently
7. Said stock exchange adds new layer of internal currency, distinct from $L ... ... ...
Ah, folks? The Resident Answer might be:
- Your money has been cashed out and spent.
- It's long, long, loooooong gone.
- The pocketful of empty promises which is 'virtual stock' is all that remains.
- Perpetrator is actually within easy reach of US Feds.
- Any new investor will be suckered into paying off the old ones.
- Scammer isn't bolting too fast because then the heat would be on in RL.
- 'Virtual stocks' were used because there never was any 40% return investment.
- If you made money unlawfully, you risk US Feds recovering it without warning.
- If you aide and abet a scam by perpetuating it you assume criminal liability.
Now, that's just one scenario... ...but before anyone else is encouraged to put money in, I'd say it would be pretty good to show that scenario is nonsense? If, in fact, it is."