Hi Zeus,
In addition to the quality responses you've already received, I'll throw in another two cents (or less, depending on current exchange rates). I've helped bust some scams along with your respondents, and have even been in a few lawsuits with them. The additional perspective that I would add to their already good information is that...
• There is a good possibility that the threats are bogus and you may never hear of them again.
• There is an equally good possibility that the Company is completely stupid and puts you into a suit without merit.
If the second case happens, extrication from that is possible and likely, but it entails that you either a) spend some thousands of bux to get out, b) do a lot of legwork, legwork, legwork to get out for free, or c) have a benefactor who will absorb either a or b because they're an exceptional human being. Among the respondents and I, there have been at various times some mix of the three, and that was by some sheer good luck and effort. And perhaps in your endeavours, you'll have the same good luck and effort. It never was easy by any means, and there was plenty of sweat on the brow in all cases.
And — what's the payoff? Well:
• The SEC doesn't give a shit.
• The suckers who lose their money — particularly the really stupid ones — don't give a shit.
• The lawyers — don't give a shit (they get paid anyway).
• The market doesn't give a shit; for any scam busted, 10 more pop up that will expend 100x more energy anyway.
• The press doesn't give a shit except for the one day that they need some filler story to reach the 10am deadline.
• Authorities (the "Law", the SEC and others agencies) don't give a shit and will give the perps a fine that is miniscule in comparison to what was taken; a fine not even amounting to your own time, money and effort.
• The Company perps don't give a shit because when they get fined (jail almost never happens), they can plead inability to pay, and keep the money they ripped off.
• Most of your neighbors and acquaintances don't give a shit because they don't read msg boards.
• Fellow posters who once gave a shit will discontinue to give a shit because, at the end of the day, boards are just entertainment value for the most part. (Hint: they're the smart ones.)
• Various jail inmates don't give a shit because neither you nor the perps are ever going to provide a fresh source of love. But everybody will give a lot money to the lawyers.
• The lawyers do give a shit. No wait — I said they didn't in Point #3. Well, they give a shit about the Lexus SUV they'll get out of the deal when all is said and done. Our lawyers, in fact, still send cards at Christmas and birthdays. They really do give a shit as I imagine it's a luxurious ride to the mailbox. As the cards come in, however, I find myself asking, "Who gives a shit?".
• As more investors "wise up", a dozen more stupid ones are ready to take the place of each and every one — somewhat proportional to the number of scams born from each one passing. I guess that's "Part B" of my Point #4, the market doesn't give a shit.
• Even <font color=blue>Karma</font> doesn't give a shit. If you bust the thing, one or more the true believers will hound you well beyond the scam's death. This may include hounding your job, family, next of kin, neighbors in foreign countries who barely know you name, your ISP, your dog and anybody else they think might give a shit. And what can you about that? Nothing. The courts don't give a shit. The harassing individual can libel you till the cows come home with all the shit they can give and you just have to sit there and take it. You can verify that with the aforementioned respondents. THey (and I) have all been through it. Ask them. If you give a shit, that is. <g>
Anyway, good luck, let us know how it turns out, and hopefully this and earlier responses will help you determine whether it's worth a shit.
-MrB |
