Quote:
Originally Posted by OBW
Z,
You first question is the one that is most significant to me. It is the fact that it was promoted. It was a solicitation to invest. I believe that means it is subject to SEC rules. And there is no indication that they even allowed any state to know that the companies involved existed. No registrations. Therefore they skirted (illegally) all of the rules.
Therefore, the promotion could not be above reproach because it would appear that the whole thing was done in a manner full of reproach. Full of deceit.
And the alleged fact that the companies were not registered anywhere would indicate that they never had to reflect why they ceased filing anything. They just quit operating. Someone suggested that they did not file bankruptcy. That is probably because that would bring the companies into the light. And these companies needed darkness, not light. No. They just stopped operating.
That is my opinion based on the observations and reporting of many others in the threads here and on the Bereans that have covered it in the past. I cannot verify their accuracy. I lost nothing on it. Too young to have anything to invest. But my dad did. But I think he figured it would never make a return anyway and considered it gone when he wrote the check. But not too many could take that position.
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Excellent, thanks for this very lucid account. From the very beginning this investment was done in a way that was not legitimate. If this had been registered with the SEC then they would have been required to promote it and offer it only to qualified investors which the vast majority within the LRC were not.
Also, only a fool would think that it was a coincidence that the investment WL had was "guaranteed" to make money while the investment that the LRC took had 100% of the risk.
Had this been done properly at the start it would be evidence that it wasn't a scam from the get go, but there is no evidence of that. Again, all of the evidence points to fraud.