In a Ponzi scheme, named for an Italian immigrant who defrauded thousands of investors after World War One, initial investors are paid off by money from later ones. In the end the ones holding the bag end up losing everything. TMRT is a Ponzi scam Charles Ponzi would be proud of.
In short, in TMRT this is what we have:
A) The company is a non-reporting, OTCBB, reverse-merger company that on paper is worth $640 million.
B) The company, with offices in Irvine, California is run by a still-practicing Las Vegas lawyer and a Vegas construction company owner, who appears to spend a lot of time in Florida racing cars.
C) The company has no operational website.
D) The company has not met its target date for filing with the SEC.
E) The company's principals have been in serious trouble with the IRS, requiring CID raids.
F) The company's principals have no background in the high-tech industry.
G) The company's principals have no background in the auction industry.
H) The company's principals have been denied gaming licenses.
I) The company's CEO, Magliarditi, has defrauded employers in the past.
J) The company's other large shareholder, Rebeil, defrauded customers in the past.
K) The company is in default with the Nevada Secretary of State
WHAT a Business!!!!!
Truthseeker |
