iCenter Review: Telegram Ponzi bots + scam downline builder
iCenter provide no information on their website about who owns or runs the business.
The iCenter website domain (“icenter.co”) was privately registered on July 1st, 2017.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
iCenter Products
iCenter has no retailable products or services, with affiliates only able to market iCenter affiliate membership itself.
The iCenter Compensation Plan
iCenter affiliates invest cryptocurrencies on the promise of an advertised ROI:
- invest 0.01 BTC and receive a 1.2% daily ROI for 120 days (120%)
- invest 0.1 LTC or more and receive a 1.4% daily ROI for 99 days
Investment in iCenter is solicited and coordinated through Telegram bots.
iCenter pay referral commissions down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 10%
- level 2 – 3%
- level 3 – 1%
Joining iCenter
iCenter affiliate membership is free, however free affiliates can only earn referral commissions.
Full participation in the iCenter MLM opportunity requires a minimum 0.01 BTC or 0.1 LTC investment.
Conclusion
iCenter is a relaunch of the Telegram Ponzi bots that were a thing back in 2016/2017 (think Lara With Me, Business Bot Incubator, V-Tec, Alpha Cash etc.).
These fraudulent businesses all wound up the same;
- either Telegram shut the bots down or;
- once they’d collapsed the owners did a runner and pretended Telegram shut their bots down to cover their escape.
iCenter is no different and will ultimately follow the same fate.
And if Telegram doesn’t step in first and shut the scam down, there are signs a collapse is imminent.
iCenter launched with a bitcoin bot. When that started to run out of money they launched a litecoin bot.
The litecoin bot paid out more, because you’re not going to encourage new investment with the same rate you’re already paying out.
There is now talk among iCenter affiliates of a new bot coming out (possibly ethereum).
These are effective relaunches of the same Ponzi scam, each offering a higher percentage payout to encourage new and existing investors to continue to invest and reinvest.
Since January, 2018, Alexa traffic estimates for the iCenter website show a flat-line.
This is typically recognized as the end of an online Ponzi scheme.
After existing investors have been milked dry through the new bot, iCenter will run into the same problem of not having enough funds to pay its ROI liabilities.
What’s particularly insidious about iCenter is its owners also use it as a platform to build downlines in third-party schemes.
Suspect and outright fraudulent MLM businesses listed as “partners” on the iCenter website include iMarketsLive, SureBets, BitClub Network, Global Dynamic Marketing, USI-Tech, Laser Online, FutureNet, BitConnect and Crypto World Evolution.
Whoever is running iCenter appears to be well-versed in fraud.
Prospects who readily identify iCenter for what it is, an obvious Ponzi scheme, are told it
is not a Ponzi, and if you are looking for a system to make LOADS of money in the short run and have most of your team lose, you are in the wrong place!
Our revenue comes from our partners and anyone can earn money from our partners themselves at their own risk.
Just remember that some of our Partners are HYIP projects and we don’t advise anyone to invest directly with them!
So there you have it. iCenter isn’t a Ponzi scheme because outside of running Telegram Ponzi bots, they purportedly invest funds in other Ponzi schemes to pay their own Ponzi investors.
Stellar scam logic right there folks.
Hello, I read with both interest and disgust your review of iCenter. It is misconstrued, misinformed and highly inaccurate.
It is now 1 year and 1 month since you wrote this review and iCenter are still going strong.
You say the owners names are not known, but if you looked properly, they are known, along with his address, DOB and Business Registration Details in the UK.
In so far as their “Unofficial Business Partners” , they are quick to mark known scams, ponzis and failures as such.
They leverage their income from many sources, make spreadsheets of monthly income / expenses available to their users and are quick to respnd to any difficulties that arise.
I have been with them for some time now and are doing very well. Withdrawing my “Seed” investment was painless, leaving the profit in there to compound and grow.
So I recommend you re-visit this skewed review and do a proper one, with some actual investigation and not just casual speculation, as is apparent you have done.
Yet you failed to point out one inaccuracy.
How long a Ponzi scheme operates for is irrelevant.
The review states iCenter’s owner’s names aren’t provided on the company website. Whether they reveal themselves in secret scammer Telegram groups I couldn’t care less.
Say no more. UK incorporation of an MLM company = instant scam.
Yet you won’t be able to provide audited accounting proof of any of them.
Of course you are. Only a Ponzi shill in profit would run around the internet trying to defend a Ponzi scheme without actually addressing the fact that using newly invested funds to pay existing investors = scam.
Nah. Can’t get much “proper” than 100% accurate.
Best of luck with the scamming.
FYI, this was posted on the 17th Mar 2018, not 1 year and 1 month as you try to confuse people, on the 2nd of May 2018.
Shills and scammers will always try to defend the ponzi scheme they are involved with.
Sad to say you’ve hit the nail on the head mate.
Mr John Erik the director of JOP (and thus iCenter) does not live at the address he gives on the companies house registration.
The business address of 120 Fleet Street London, belongs to Goldman Sachs (who also have never heard of JOP/iCenter)
None of the companies they say they are partnered with acknowledging this to be true.
Their website ip address is associated with a site called customhyipbot.com (subtle)
Even the language and grammar used in the site, and emails I’ve seen from them scream that these guys are not in the UK.
Last but not least, in 2 months time, companies house is going to remove them from the register, and dissolve them!
I have copies of the paperwork for that too.
Sadly, I invested!
Not a huge amount, more than I care to lose though, and still have almost 80 days before it’s returned.
Hi Oz
I see that iCenter have updated their terms to 120 days and a daily % of 1.2%. So the 99 days is stretching out and they’ve reduced their payout percentage.
I wonder what could possibly be the reason? Just giving you a heads up.
Your actual wondering or asking the obvious question.
When companies start running out of money, they do what they need to do in order to survive. When a PONZI starts to get low on funds, the natural thing to do is to stretch out the payouts either with NO PAY and claim problems, reduce payouts (like this case), etc…
They want to stay in the game as long as possible so new money keeps coming in…
Yeah, Ponzi schemes don’t delay unless funds are running low.
Actually, “DELAYING” is the first tactic…coming up with excuses as to why payments are delayed.. then they move to reasons why PAYMENTS are sTOPPED… then it goes DRY… and GONE..
@Still invested could you please send that paper work over so that I can see please.
I am heavily invested and would like to know exactly what is happening thank you.
What is happening is, you got scammed by multi-level marketers aka network marketers.
In future, just avoid MLMers at all costs, and you won’t get scammed by that type again. It ‘is’ that simple.
Ive just invested a small amount into the litebot on telegram. Im currently gaining interest from a few friends and have 2 referalls who have invested small amounts.
Im worried that this will go tits up as i was in USI who are still paying me and my partner back in minute amounts.
Im near my initial invest and withdrawn most of it to date. Do I need to pull out now?
I can’t believe the amount of people that are involved with this. So many of my friends are in on this. They were also with teleminer, which stopped paying a week ago. Many lost money in that.
This is going to come crashing down very very soon..
Hi Still Invested,
You referring tobsome paper work, can I have a look at it. I am heavily invested.
Thanks
How could so many people be so stupid that they believe in such freudulent scam as Icenter?
No confirmed names. No confirmed adress. No confirmed accounting papers. No comfirmed partners. And offer 1.4% each day. Just how silly can you be to belive in that?
Hi
Ive invested a small sum and im withdrawing every other day. So far so good.
Might not ladt forever but i. Withdrawing what ive invested which isnt a bad thing!
You’ll be able to withdraw for as long as there’s new iCenter investors for you to steal from. Shameful.
i have my own mining rig. Bitcoin mining is making me a loss daily at the moment. Genesis Mining are making a loss/ Hashflare have stopped paying because of high difficulty. CWE has been running Losses for 6 months on the trot. Yet Icenter claim to be profiting 1.4% per day on their mining.
I know for a fact this is impossible!! But yet my friend wont show me its blockchain. I wonder why???
THEY ARE THE ONLY COMPANY IN THE WORLD TO BE PROFITING FROM BITCOIN MINING AT TODAYS RATE. LOL.
Any incenter member care to show me. if not, you are knowingly pushing a scam therefore making you a scammer, or a criminal in my eyes.
sleep tight…
Icenter might be profiting 1.4% per day off fools that buy that story and give them their money.
People who join and pass their money on to con men won’t earn that though (although they may lose precisely 1.4% per day in this 0 sum game).
The bitcoin mlm scams has to run out of fools at some point right?
Thanks Genesis Mining for replying to me and confirming you have nothing to do with icenter, and the 2 transactions they claim :
icenter.co/genesis-mining-is-number-one/
Went to them but it did not really.
facebook.com/GenesisMining/posts/1920424414690386?comment_id=1920612774671550&reply_comment_id=1921770697889091¬if_id=1533804978433072¬if_t=feed_comment_reply
Thanks for the heads up!
Why would a legitimate company have to lie about partnerships? Herp derp…
I’m not in icenter but I’m skeptical it’s pure Ponzi.
You say “how long a Ponzi operates for doesn’t matter” or words to that effect. I’m sorry but mathematically that is not so.
Unless complete idiots the operators will exit scam at the point they believe they have the most of their investors money. Very few will wait till they have nothing in the pot to pay out dividends.
I think anyone watching icenter will be intrigued that the bot is still running so far down the line, esp when all the bot currencies are in bear markets. And esp immediately post Bitconnect.
I very much doubt a straight Ponzi would still be running this many months down the line. Something doesn’t quite add up for me.
Best
Dev
any update about this post? One question:
Why the Justice or any other related competent organisation do not investigate this kind of companies?
How can they run without problem and take the Money from so many people without facing any legal action?
@Dev
There is no mathematical law that can be applied to when a Ponzi admin decides to do a runner, other than the ROI reserve balance hitting $0.
Trying to predict when a particular Ponzi admin will run before the ROI reserve hits $0 is not governed by the laws of mathematics.
@Charly
You’d have to ask “the justice”. We can only report on financial fraud and create awareness.
And you know this how, exactly ?
I cannot recall ever seeing “not being an idiot” being listed as a requirement of being a ponzi operator and, given the number of ponzis, there’s certainly room for every variation possible of how they end.
People run scams to make money. Some are delusional sociopaths a la Bernie Madoff. But otherwise they’re in it for the cash. Thus they will exit stage left when they feel the time is right.
For a start, if you look closer you will see that icenter only actually pay out 0.3 to 0.4% daily, depending on the deal. This is easily doable with today’s bots.
I’m not saying it’s not a scam, I’m pointing out that it doesn’t have to be.
I guarantee I could run icenter in today’s market for the next year and maintain daily payouts, no worries. I applaud what you guys do on this platform but you also know very little about crypto biz and scams… this is totally clear to me
Please provide evidence of iCenter using a trading bot to generate revenue that is actually paid to affiliates, or stop making hypothetical excuses for scammers.
Your guarantees are worth used toilet paper.
If you were able to legitimately generate a consistent a 0.3% to 0.4% daily ROI you wouldn’t be here making excuses for Ponzi schemes.
I left a reply but it didn’t come through. But just to mention that I am making av 0.75% daily through the crypto platforms, and that whilst I’d say that 80-90% are scammy, if you know how to look then you can make good passive income.
As to proving that iCenter are bot trading, how could such a thing be proven? I could point you to platforms that offer apparent proof of bot-trading.
I would not trust it. This stuff is relatively meaningless, same as doing CoHo profiling and all that, like you’re doing above. A lot of legit people like to stay under the radar, for all sorts of reasons.
(Ozedit: spam removed)
Ask me whether I’d put money in iCenter and I’d tell you – no fucking way! The payout is too low for the risk level.
You’re not actually making anything. You’re stealing money from people in various Ponzi schemes. Want a cookie?
Through auditing by a third-party and legally required disclosures filed with securities regulators. Same as any other company offering securities would have to legally prove it was doing what it said it was.
No you couldn’t, because there isn’t a single MLM crypto company that is registered with a securities regulator in any jurisdiction.
And please don’t try to shill your Steemit garbage here.
Anyway if you’re done talking about iCenter, I think we’re done here. If you wish to discuss Ponzi schemes in general there are plenty of like-minded scammers for you to converse with elsewhere.
0.3% return per day is a 118% per year return. (198% if the bot trades on weekends.) Mainstream equity investments generally project around a 5% annual return as reasonable and 8% per year as optimistic.
It is perfectly possible for anyone to make a 0.3% return in a day from short term trading, but on average they will lose 0.3% as often as they gain it. Any scheme that claims to consistently generate 0.3% a day (118% per year) is a scam, as you know perfectly well.
Duh. Providing inflows remain constant and people don’t ask for their money back (and why would they when they’re doubling their money every year?), the scheme could easily last two or three years before the money completely ran out.
Longer if you pull some of the usual tricks like retrospectively changing the payment terms and restricting withdrawals.
You could always save Oz some time and just email him the name and compensation plan of the Ponzi scam you’re planning to set up.
Mainstream investments, such as US securities, are (Ozedit: entirely irrelevant, see below.)
If you had 10k and had to put it in crypto platforms, no other choice say, would you be able to assess what’s the lowest risk highest yeild? I doubt it.
I trade, I take risk. You guys are not cut out for this type of business. Better stick with ISAs!
I can see I’m dealing with someone who has no clue about securities law.
Instead of trying to sound like you’re able to keep up with the conversation, take some time off from scamming people in Ponzi schemes and do the research.
Or not. You come off as your typical uneducated scammer who thinks he’s got one up on the world.
Unless you have any evidence of iCenter actually using trading bots to generate ROI revenue, I’ll be marking anything further as spam.
I’m not interested in bullshit hypotheticals, only the facts. And the facts as they stand are that iCenter has provided no evidence of external ROI revenue generation, making it a Ponzi scheme.
That’s the thing, I do have other choices, because I’m not a bit thick, and therefore have no need to steal other people’s money in Ponzi scams.
Thought I would post on here to say I’ve been using Icentre for over a year now no problems. This doesn’t mean it wont be a future scam but what I can say through my experiance is I have tripled my LTC & ETH bags.
I am not a pro trader so this automated bot has actually helped me accumulate more cryptocurrency.
(Ozedit: recruitment spam removed)
Ponzi schemes are scams from day 1. You stealing from money just means you’re the one currently doing the scamming.
When iCenter inevitably collapses, those you’ve scammed will have nobody left to steal from in turn.
(Ozedit: Offtopic derail attempts removed)
Look, people have been making money from iCenter for more than year. OH yeah!, time doesn’t matter on a Ponzi scheme you said huh.
Well, by the time iCenter decides to close its doors. I have more reasons to believe that people will have made their money infinity times more, by the time what you say is true, but already old old news anyways.
You’ll probably already change jobs by the time iCenter folds like you think it will. Good luck being a reliable writer from here on out.
Those beliefs are not based on reality. Mathematics is a zero-sum game.
What is stolen by scammers such as yourself through a Ponzi scheme is somebody else’s loss. And iCenter is a Ponzi scheme, by virtue of you being utterly unable to provide verifiable evidence of external ROI revenue being used to pay affiliates.
My impeccable track record when it comes to identifying a Ponzi scheme over the past decade speaks for itself. Best of luck with the scamming.
There, fixed it for ya.
Ah yes, anyone who dares point out that icenter actually isn’t behaving very much like a Ponzi, immediately gets labelled a scammer themselves! Paranoia defeats investigation once again. (Ozedit: abuse removed)
Oz wrote – My impeccable track record when it comes to identifying a Ponzi scheme over the past decade speaks for itself.
Ok Mr genius, riddle me this… If Icenter is a Ponzi running 12 months and offering 0.4% daily, how much money would need to be poured into it daily for it to not collapse? To the nearest trillion will do.
Wow, we’ve got a real maths genius here folks.
The answer, Dr Hawking, is that it doesn’t matter. As long as the scheme continues to receive inflows / people don’t ask to withdraw their money, the scheme will continue running indefinitely. How much is poured into the scheme is irrelevant. What matters is inflows relative to outflows.
The problem is that inflows will not continue indefinitely (as there is a finite pool of suckers) and eventually people will want to withdraw their original capital.
iCenter is behaving exactly like a Ponzi:
-Operates a collective investment scheme which is not registered with any regulators in the countries it is promoted in
-Pays unrealistic investment returns with no verifiable source of external revenue
-Associated with notorious and already collapsed Ponzi scams,
-Openly admits that it makes revenue from other Ponzi schemes (aka HYIPs)
-Encourages dimbulbs to make fools of themselves on anti-scam blogs trying to defend the scheme.
It’s pretty much a full house.
People who scam through Ponzi schemes are by definition scammers. And you haven’t pointed out anything – where is the verified evidence iCenter is paying affiliates with external ROI revenue?
The same as any other Ponzi scheme – enough to cover withdrawal requests.
You guys are hysterical. A conservative estimate of icenter active players would be at least 10,000. Probably more like another zero on top in reality.
One year in with the level of reinvestment going on, you’d need to be finding 10,000s of BTC daily to pay off the interest. It is mathematically absurd to say this comes from new punters every day, you need to find a new planet and populate it to get the people.
Icenter will be bot trading. 95% guaranteed. As long as you’ve got the techies to supervise bots you can clear 1% daily, no problem. They’ll be using currency pairs, crypto/crypto or crypto/fiat. Otherwise running arbitrage bots across multiple exchanges.
This doesn’t mean they won’t exit at some point, but it’s unlikely whilst they’re making so much cash.
(Ozedit: Offtopic derail attempts removed)
Not interested in estimates, only facts.
No you wouldn’t, because numbers on a screen != real money and gullible schmucks are reinvesting a significant amount of monopoly money ROI payments.
Welcome to the world of MLM crypto Ponzi schemes. You aren’t the first investor to be in absolute denial, nor will you be the last.
Prove it. And prove that iCenter are using trading revenue is being used to pay affiliates.
*crickets*
I’m not investor in icenter and have no intention to start. I’m getting (Ozedit: Nobody cares.)
I can’t prove what icenter are doing, for sure (Ozedit: Cool.)
Thankyou for confirming you’re full of shit and wasting my time.
The only verifiable source of revenue entering iCenter is new investment. Using new investment to pay affiliates a ROI makes iCenter a Ponzi scheme. #facts
(Ozedit: derail)
To be a Ponzi, it is generally taken that all or the overwhelming majority of interest paid must come from incoming investment, not just some, as to me you are implying above.
Btw, icenter have a new scheme out now. Did you see icash? People are fomo’ing like crazy, but I doubt I’ll bigger getting in
Wow – that is exciting!!
When are you scheduled for a cover story on the Wall Street Journal based on these history-making returns?
In the mean time, you can continue your financial education re-reading response #30 above from Malthusian. No charge.
SD
False. Using any new investment to pay a ROI is Ponzi fraud. Not withstanding the passive nature of the investment being a security either way.
iCenter have not registered with a securities regulator in any jurisdiction they operate in, meaning they are operating illegally the world over.
Doesn’t surprise me. As ROI liabilities spiral out of control it’s not uncommon for an MLM Ponzi scheme to launch a spinoff.
Well, I don’t really see much point in replying (Ozedit: Cool, bye. Dummy spit removed.)
icenter ive been with it since jan, i know its a scam, i cant believe all these icenter groups keep saying invest.
i started with only a little took a big leap and now i have no one under me cause i know its a scam. and the bots have ben down a week now since the launch of the new scam icash.
Scam, Ponzi, Bot, Whatever it is, it’ll be interesting to see if it reappears in the not to distant future.
I have been involved for about a year , and I have no idea what it is , however I only put a small amount it and built on that.
I have been very pleased with my returns and if it’s the end , well so be it … But I have a feeling it’ll be up an running again soon , with all the efforts gone into iCash.
unfortunately for people wanting to work online there is very little that has absolute substantiated claims, So for me ist a hobby, that has been a bit of profitable fun.
I think you have to be very sensible, these guys who put thousands in, well its just like backing a horse, but if you play, enjoy and have fun, you don’t get hurt ..
I think they are great fun IF played sensibly ………no doubt you;ll disagree.
@Nick Wood, you have a very twisted logic.
How is scamming fun?
@Nick Wood – iCash may well be a cash cow for iCenter to exit scam with.
Well seeing as I play with 40 quid, and have had very good returns over a year…. yet not exactly breaking the bank, and we are all grown ups, are we not ??..
anyone who puts thousands into an online business/scam/ponzi call them what you like without knowing who the owner(s) are and proper research.., is simply stupid.
iCash, ICenter who knows what the future might hold………..maybe chill out and b not be so serious and tense dude, its all just a game, juts like life 🙂
It is a mathematical certainty that the majority of investors in a Ponzi scheme will lose money.
You can try to rationalize and/or justify that however you want. Doesn’t change the facts.
Then I guess they should all do more research eh, if in doubt don’t……….however GREED kicks in …………..then remorse ………..Then whinging lol.
That’s some shameless victim blaming there.
Whatever helps you sleep at night. Or you’re a dumbass taking loss after loss.
I have been researching these schemes for a while now. And what is clear to me is that the idea that they are either Ponzi or Legit, whilst attractive, is not likely to be accurate. Most will be pooling the money that comes in from investors with the money gained from trading that investment, and going from day to day.
You can call them Ponzi, because I doubt any pay daily interest solely with trading profits, but (Ozedit: offtopic derail attempts removed)
The most damning feature of iCenter is actually not that it’s very likely to be partially Ponzi. Rather it’s that, by leaving no traces of who is actually behind it, they leave a big “back door” to escape at any time. Which one day they no doubt will!
Word on the street is that iCenter have now exit scammed, using iCash to take in big bucks before leaving. BCCX take 2.
Any legitimate company with an actual trading bot would have no reason to collapse and exit scam.
Perhaps now, in a moment of clarity, you’ll admit you were wrong.
When you’ve been covering the MLM industry as long as I have, you can spot a scam a mile away. It’s basically the same Ponzi model over and over again, each time with a slightly different “ho ho ho, totally not a scam this time!” coat of paint.
Cool. I’ve been at it for almost a decade. I can has cookie?
Nope. A Ponzi is a Ponzi and you can’t legitimize one by using external revenue to pay out a portion of the ROI.
If you’re recycling newly invested funds and claiming otherwise (be it a percentage or wholly), you’re committing wire fraud (and most likely securities fraud).
You trying to diminish the impact of iCenter being a Ponzi scheme and focusing on the anonymous scammers behind it is securities fraud. All part and parcel of the online Ponzi world.
Ponzi scammers don’t want to get caught and rely on gullible investors to hand over their money.
What, you think iCenter would be any less of a Ponzi scheme if you knew it was run by Joe Bloggs down the road? Please.
Hi Guys,
I’ve been investing in the cryptomarket for several years and I’ve read back over entries.
Ponzi scams will always be around as by nature, humans are greedy/needy but there are usually common traits to be found in all of them. Unfortunately, new or gullible investors will always be around.
iCenter has been in “maintenance mode” now for over 2 days and are not allowing any withdrawals. It’s a Ponzi that is now closing up shop.
Bottom line, if you get into a “successful” Ponzi scheme early, (ie. one that lasts for a year or more), you will certainly get your initial investment back plus a very good profit but if you are one of the latecomers… CRASSSSHHHH!!!
Oh well they’ll be another train along very soon.
Oz, if you care to read through what I’ve been writing, as well as all the comments you’ve merrily deleted, you will see that at no time did I say that iCenter was not a scam. I was pointing out that they were unlikely to be pure Ponzi.
It is intellectually lazy to label all these schemes as just Ponzi, and this actually serves no one.
No such thing. A Ponzi is a Ponzi.
Using newly invested funds to pay existing investors in any capacity? Ponzi scheme. (wire fraud, mail fraud and securities fraud)
/endofstory
It’s not an external revenue. People invest in the scheme. The people running the scheme carry out ongoing trading using the money invested, (Ozedit: iCenter didn’t do this. Offtopic derails removed.)
Nope. You want to claim iCenter was trading you provide evidence.
Now perhaps you can understand why when people are prosecuted, it’s not with “running a ponzi” or “running a pure ponzi” or “running a half ponzi with little bits of pyramid scheme thrown in”
Charges involve: FRAUD – WIREFRAUD – CONSPIRACY – MONEY LAUNDERING – TAX EVASION – ILLEGAL SALE OF SECURITIES
As far as I know there haven’t been any prosecutions for Ponzis in Crypto, because it is not easy to prove who did it, or if it actually were a Ponzi.
The best the US Gov have managed so far is to subpoena promoters. Selling unlicensed securities is the current legal angle being explored by the State.
Legally, if you can’t prove that the scheme was pure Ponzi, you are also open to any defence lawyer pointing out that, if only partial Ponzi, then (Ozedit: Offtopic derail attempts removed)
Mark S. Scott of OneCoin money laundering fame.
I can assure you the term “pure Ponzi” has never appeared in SEC litigation with respect to MLM related securities fraud.
Feel free to cite one example where a scammer got off because they weren’t running a “pure Ponzi”. Otherwise I’ll be marking any further “pure Ponzi” nonsense as spam.
Here’s your mission, should you chose to accept it.
Research US statutes and the regulations covering the SEC and see if you can find the word “ponzi” in any of the applicable statutes.
It MAY appear as a descriptive term during court proceedings or initial complaints, but it is not used as part of the charges preferred.
Fair enough. The term is however used to describe a certain type of fraud, as you say. (Ozedit: Conspiracy theories removed.)
If it were simply illegal to run a Ponzi Scheme, (Ozedit: It is. Conspiracy theories removed.)
If you wish to discuss ebil gubmint and banking conspiracies do it somewhere else.
Whew what a looong debate…
Icentre is already done fraud investigations worldwide now and they have already done a runner with all the money anyone who thinks otherwise is a retard.
Their business idea is cool but greed won’t let them stay. Evil minds.
Seeing as the “business idea” behind iCenter was to steal as much money from as many people as possible through Ponzi fraud, how is that “cool”?
You can’t separate the scam from the scammers.
Oh well this one didn’t work out very well. I guess that how it goes in the worked of high finance.
(Ozedit: derail removed)
Ponzi schemes aren’t “high finance”, they’re scams.
Are you just here to make excuses for scams? Let me know I can save us both some time by sending you to the spam-bin kthx.