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Swede admits to running multi million dollar investment fraud from a villa on Koh Chang


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5 minutes ago, polpott said:

The investors are equally to blame. Greed conquers brains.

Yes, and who falls for things like this? A long time ago I received a windfall and thought about dumping it into a Vanguard All-US or All-World, but wasn't sure I could trust that, so it ended up in real estate. Call me conservative. 

And is it really so easy as it sounds for guys like him to do this? I  guess he needed some knowledge of the world of finance , but still...

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A similar fate will no doubt await those scammers on Koh Phangan who just stole over $3m from investors in their cryptocurrency project.

Edited by Mr Meeseeks
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"Goodbye Bernie Madoff mini me. Sorry we could not make deal with you but we have to give USA man somebody just to look good." 

 

swede.jpeg.3759de6d6e6d2028b0eedd3fc30ac4ce.jpeg.5d5a7c4e7bf87031012ad5f73a83ec96.jpeg.22062b7d77326eb067faecf4390714eb.jpeg

Edited by NCC1701A
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2 hours ago, rooster59 said:

According to the U.S. Attorney’s Office, Karlsson admitted that he used the website to invite potential investors to purchase shares of the plan for less than $100 per share, promising an eventual payout of 1.15 kilograms of gold per share, an amount of gold which as of Jan. 2, 2019, was worth more than $45,000.  

Ah huh...

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2 hours ago, ThailandRyan said:

Crooked as can be. What a truly wonderfully piece of garbage this man is. He should be stoned to death with each of his victims getting a shot in.

I  only said that Halibut was  good  enough for Jehovah!

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2 hours ago, ThailandRyan said:

Crooked as can be. What a truly wonderfully piece of garbage this man is. He should be stoned to death with each of his victims getting a shot in.

 

That's an understandably emotional reaction.   

 

Another option might be a total seizure of his assets used to pay for his decades in prison.

 

This must have been an appealing claim to those who let their greed block out any reason:

 

"According to the U.S. Attorney’s Office, Karlsson admitted that he used the website to invite potential investors to purchase shares of the plan for less than $100 per share, promising an eventual payout of 1.15 kilograms of gold per share, an amount of gold which as of Jan. 2, 2019, was worth more than $45,000." 

 

Who could at any time believe such a spurious claim?

 

 

Edited by Andy from Kent
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2 hours ago, polpott said:

…greed is inversely proportional to brains.

It seems so, but I always wonder how these people have so much money to invest, whereas me – brainy as heck, but no spare cash to put into harebrained get-rich-quick schemes.

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2 hours ago, ezzra said:

Said the man who probably has neither...

Money is for spending, not investing. The trick is to get the balance right between self-sacrifice (work) and self-indulgence (consumption). Those who work so hard as to make more money than they care to spend have no concept of the meaning of life. This guy was arguably doing society a valuable service, if only society knew it.

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2 hours ago, Enzian said:

A long time ago I received a windfall and thought about dumping it into a Vanguard All-US or All-World, but wasn't sure I could trust that, so it ended up in real estate. Call me conservative.

Unlike the earlier contributor, I will call you conservative !😉

 

I don’t see why you would be worried about Vanguard ETFs. Vanguard (and several others like it) is a highly credible and trusted investment fund company.

 

You’ll likely still do quite nicely out of real estate but seems a shame to be blocking off investment options in other areas because of an unnecessarily cautious approach. 

Through ETFs you can invest in pretty much anything, obviously stock but also stock themes, specific stock industry sectors, indexes, geographies, commodities, real estate trusts and crypto etc.

 

Ironically, you are possibly increasing your own ‘portfolio/investment risk’ if you are heavily over weighted in real estate. Stocks/bonds/others might give you some nice investment diversification. 

 

Anyway - good luck with the investing ! 

 

 

 

 

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1 hour ago, Andy from Kent said:

 

That's an understandably emotional reaction.   

 

Another option might be a total seizure of his assets used to pay for his decades in prison.

 

This must have been an appealing claim to those who let their greed block out any reason:

 

"According to the U.S. Attorney’s Office, Karlsson admitted that he used the website to invite potential investors to purchase shares of the plan for less than $100 per share, promising an eventual payout of 1.15 kilograms of gold per share, an amount of gold which as of Jan. 2, 2019, was worth more than $45,000." 

 

Who could at any time believe such a spurious claim?

 

 

Not emotional just biblical proportions of fraud he committed so it should be returned in biblical fashion I do believe.

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24 minutes ago, Mr Derek said:

Money is for spending, not investing. The trick is to get the balance right between self-sacrifice (work) and self-indulgence (consumption). Those who work so hard as to make more money than they care to spend have no concept of the meaning of life. This guy was arguably doing society a valuable service, if only society knew it.

I hope you'll think the same when you can no longer work and have nothing to fall back on. The meaning of life changes when you have no money.

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3 hours ago, polpott said:

Not true. Read my previous post. Old German guy with Alzheimer's who's wife had control of his money. He now has zero savings and unable to support his annual extension. Up <deleted> creek without a paddle.

I find it hard to have sympathy with anyone acquainted with someone with your user name.

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3 hours ago, Mr Derek said:

Yawn. Anyone with money to invest has got money they can afford to lose.

Think i'd amend that to dont invest in anything you cant live in, see, or hold in your hands 

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5 hours ago, rooster59 said:

purchase shares of the plan for less than $100 per share, promising an eventual payout of 1.15 kilograms of gold per share, an amount of gold which as of Jan. 2, 2019, was worth more than $45,000.

Where do I sign up?!?! I'll buy a few shares and make a killing!

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1 hour ago, peterdarby said:

how these people have so much money to invest

Probably borrowed. Easy come, easy go as they say. 

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50 minutes ago, roquefort said:

I hope you'll think the same when you can no longer work and have nothing to fall back on. The meaning of life changes when you have no money.

 

That's what the public teat is for. All the suckers that saved their money will be paying for him...

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According to the U.S. Attorney’s Office, Karlsson admitted that he used the website to invite potential investors to purchase shares of the plan for less than $100 per share, promising an eventual payout of 1.15 kilograms of gold per share, an amount of gold which as of Jan. 2, 2019, was worth more than $45,000.  

 

If those figures aren't a red flag, I don't know what is.

I'd have asked him if I could invest $10 for $4,500 worth of gold, just to test the idea out.

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