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Politics : Formerly About Advanced Micro Devices

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Eric

To: Broken_Clock who wrote (1479782)	8/21/2024 3:52:19 PM
From: Qone0	1 Recommendation Read Replies (1) of 1570958

LOL, you fell for the bait hook line and sinker. Criminal conviction In 1999, Japanese fraud investigators accused Armstrong of collecting money from Japanese investors, improperly commingling these funds with funds from other investors, and using the fresh money to cover losses he had incurred while trading. [13] United States prosecutors called it a three-billion-dollar Ponzi scheme. [14] Allegedly assisting Armstrong in his scheme was the Republic New York Corporation, which produced false account statements to reassure Armstrong's investors. In 2001, the bank agreed to pay US$606 million as restitution for its part in the scandal. [14] You know what a Ponzi scheme is right? It's where you tell investors you can create a profit using their money, but really can't. So you use other peoples money to create the illusion that you can. Until the whole thing finally collapse's. That is theft by fraud. He stole their money. Period.

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