Quote:
Originally Posted by WiredGuy
How was the company a ponzi scheme? I thought it was a bankruptcy issue?
WG
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Most ponzi schemes are only discovered when they are bankrupt. Then you get the pleasure of uncovering the financial management methodology. If it is simply a case of the business was unsustainable due to market conditions etc. Then that is reasonable. However, when just a week prior to the bk announcement personal assurances that debts would be paid were made by the parties involved, and they were still actively recruiting new clients, I would say there is something not quite kosher about the business.
On another note:
Tony Gallardo called me to let me know that the additional bk info for the corporation and for Scott R. would follow in the next few weeks. So in the end we will have 3 separate cases where they may be attempting to discharge their debts.