Quote:
Originally Posted by lazycash
What I don't understand is why'd you take that much risk just for a 3% greater return than you were currently making? You said you were gettin 5%, (which sounds very high for a cd) and he guaranteed you 8%. I could possibly see you getting sucked in if he promised a 15 - 25% return, but for 8%?
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Its a $750 to $1250 difference at the end of the year. yeah, its not a ton of money but enough for a weekend vacation or something.
plus, I had the funds in a liquid CD with BofA that they could change the rate at anytime.
the reason I got suckered in was because he was a good friend of a friend, so I trusted him. The guarantee was a great catch too. He told me whatever he gets about 10% he gets 50% and i get the other 50%.
before his partner got him to invest in a ponzi scheme, he was making really good money off stocks, investments and forex, but got greedy and saw an easy way to make money without working