Comments on: Police Blotter: Dot-com swindler goes to prison

Appeals court upholds verdict, revokes bail for church elder convicted of bilking dot-com IPO investors out of their life savings.

[ramudd]

Shouldn't feel this way but good enough for them.

If you have an extra $300,000 laying around and you are ignorant enough to go for something like this then I say good enough for you. I am trying to figure out how to live on a fixed income of $1,000 a month and it is almost impossible, what with medications to stay alive. People should think about these things instead of being greedy.

[adamgard]

Fair comment

Fair comment ramudd: On your point about surviving on $1000pm while needing medicines you have my real sympathy but it still doesn't excuse someone stealing from gullible people who are now left with no money as well. Especially by someone who was pretending to be trustworthy etc. Pray for help in your own situation as you cannot work miracles, only God can do that.

[JJ2014]

Jehovah's Witness Swindlers & Conmen Are Common

Henry Bazarte may have used one or more of the following swindles and scams committed by other Jehovah's Witness Elders as his blueprint:

http://jwemployees.bravehost.com/NewsReports/2015.html

[alegr]

Interesting

I saw a recent article on web, that people that consider themselves "righteous", "morally superior", are more prone to cheat on others.

[Phillep_H]

Maybe not only

I've never done business with anyone who made a big deal of his religion, political party, or anything else that was not relevant to the job, who was not a crook.

[DannyHaszard]

Jehovah's Witnesses Fraud for God

This is probably what makes the Jehovah's witnesses religion so controversial in that they: PROMISE YOU YOUR REWARD IN THE HERE AND NOW.

Like holding out the proverbial carrot to the donkey the watchtower promises it's followers an impending new system paradise coming any minute you won't grow old you won't need to save for old age retirement.
The other religions have the good sense to promise you your reward AFTER YOU DIE and nobody has ever come back from the dead and sued for breach of promise.

When the watchtower is made to be held accountable for their false promises and defaults thay just go and disfellowship (kick out) those who dissent.Religions can get away with this any secular business that did this would get their leaders put in jail for fraud.The Watchtower religion has busted a million followers and there are lots of angry ex members who won't go quietly.

It's FRAUD for GOD
--
Danny Haszard

[bridge solution]

qualifying investors

this conviction, stripped of its juiciness, is about a ponzi. not a stock fraud.
the critical element, imho is the concept of the business entity designed to be able to purchase options.
anybody who recalls the relationship between the word "millionaire" and how the usa bought "louisiana" for chump change will understand that at some point, any financial structure collapses into a nightmare of derivatives. like, uh, maybe, o, the usa national debt, the mortgage issues cycling thru, the spill from houses into autos, biting the wizards who fed auto money into mortages a ferw years ago for "stability". etc.
since about 1934 ish, when $100 grand wasw maybe almost real money, there has been a legal theory that if somebody couldn;t take 100 grand hit, they shouldn;t be allowed near a start up, ipo, etc, excepting under state laws, which allowed random other sub-formulas.
dotcom swindler? jim cramer is still oin tv--having done an ipo which wazs used as the basis for literallly billions of dolalrs of angel investing models, that predicted page views by the totality of americans by y2k that have still not been achieved. maria bartiromo? jono steinberg?
those are dot com swindlers. this guy was a local con man playing a shell game, and no more.