Does anyone know if this is a pyramid scam?

wolrab

Congratulations Court Jester - you are the weakest fool...

From The Times - March 10, 2010

Former cab driver convicted of £34m fraud
"The court was told that most of the cash was put into an illegal overseas pyramid selling scheme set up by Foster called Planline, purportedly run by a Cayman Islands-registered company called Infocus International, which had bank accounts in Switzerland. Infocus International claimed to be an internet-based art dealership, but the dealership was a front and the “artwork” turned out to be worthless copies. Of the £12 million paid into Planline, only £1,703 was ever returned.

Richard Alderman, the SFO director, said yesterday: “I am very pleased with this verdict. This was a very complex investigation and the SFO was determined to bring justice for the many victims who lost their hard-earned savings.”

I would have put a link to the original article, but ironically as a 'new user' I can't post links - but it's perfectly OK for Court Jester and others to promote a Ponzi scheme :-)

C_Mababejive

Clever guy. you only get one life and he struck it rich. as a working sucker,he would certainly never have had that quality of life and ten years isnt that long with remission. then he can come out and enjoy the fruits of his labours which,no doubt,he has tucked away somewhere safe.

Lifes what you make it they say..

dealer_wins

C_Mababejive wrote: »

Clever guy. you only get one life and he struck it rich. as a working sucker,he would certainly never have had that quality of life and ten years isnt that long with remission. then he can come out and enjoy the fruits of his labours which,no doubt,he has tucked away somewhere safe.

Lifes what you make it they say..

You probably wouldnt be quite so happy for the guy if your mum got scammed out of a few grand to him.