SEC Uncovers Ponzi Scheme Targeting Deaf Investors

SaSSy BaBe

SaSSy BaBe

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SEC Uncovers Ponzi Scheme Targeting Deaf Investors
CRIME, SEC, PONZI SCHEME, LAWSUITS, CORPORATE FRAUD, BILLIONS COUPONS, MARVIN COOPER, MADOFF
Posted By: Bertha Coombs | CNBC Reporter
CNBC.com
| 19 Feb 2009 | 02:45 PM ET

The Securities and Exchange Commission obtained a court order halting an alleged Ponzi scheme by Hawaii-based Billions Coupons and its CEO Marvin R. Cooper that was targeting members of the Deaf community in the U.S. and Japan.

The SEC alleges Billions Coupons and Cooper raised more than $4.4 million from 125 investors since at least September 2007 by holding investment seminars at community centers for investors who were deaf.

The SEC is also alleging that Cooper pocketed at least $1.4 million in investor funds to pay personal expenses as well as purchase a new home.

This is the latest in a series of investor Ponzi schemes uncovered since the mammoth $50 billion investment fraud caused by Bernard Madoff was revealed in December.
 
Awesome... :)

It's still pretty sad that people keep targeting people like us.

I remember when a friend of mine got a visit from a door-to-door Mormon guy. The first thing he did was introduce himself in sign language and mention that he knew that my friend was deaf. My friend was startled, but patiently let him in so that my friend could find out how that guy knew my friend was deaf. After nodding to everything that guy said, it was finally time for him to leave. When that guy walked out the door, my friend asked one thing... "How did you know I was deaf?" The Mormon guy said, "Oh, I have a complete listing of all the deaf people in Rochester!" He actually showed my friend the listing. My friend immediately grabbed the paper and slammed the door on that guy. He never heard from that guy again.

That kind of thing makes me wonder how these people are getting our information? Are they getting these list from deaf-sponsored groups or what?
 
:roll:

When will people realize. It is nothing but a scam! Deaf people as well!!


Goodness gracious!
 
I know some of these victims. :shrug: That's why I was asking all those questions over at the Noobing thread, not because I was necessarily personally interested or think negatively about the Noobing organization but because those are the kinds of questions one needs to be asking under the circumstances. These victims who I know didn't ask a darned thing so hopefully they have learned a thing or two and maybe realize that they participated out of sheer greed vs doing a thorough check of these companies. Amounts "invested" ranged from 5k to 25k.
 
Tousi said:
Yeah, but problem with greedy or desperate people is they'd rather gun for the 50 to 100% ROI they were told they would get. Laff and a half...
Click to expand...


Greedy people are more than likely to know how and where their money is investing in...I agree it happens to Some of them since $$ is over their head.

So more than likely these people that the OP is speaking of is desperate to get rich quick. desperation to get rich quick with out working for it. Is always a bad sign.
 
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