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SUCKISSTAPLES
- Charter Member
posted: Jul. 4, 2009 @ 3:46a
Unbelieevable said:Well, I won't say I was expecting something different, as I had sniffed out the scam in this before I had even posted it. I was just curious to see what you fine FWF folks had to say. It's just not a good thing for the bottom-feeding investor. If you can get in at the top level without all of the additional cuts being taken out before you see any gains, there's probably a potential for a nice return. For the average middle-class investor with $10k or $50k to invest, too many people take too much off the top before you get yours. Actually, I would bet money that this is an outright scam and they they are NOT using all the "investor money" to actually buy these notes at all. It sounds just like Agape...bring in a bunch of money, do a couple piddly deald, and pay off others with the funds of new suckers. OP if you want the credit for outing these scammers for the lowlife trash they really are, start getting some addresses, loans etc and lets start verifying. I bet you wont get more than 4 or 5 , just like the # of projects Agape invested in. |
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MadAnthony
- Senior Member - 5K
posted: Jul. 4, 2009 @ 12:18p
Fooled around with google for a few minutes with the names in the document from the OP.. it's interesting to see who is behind this. HP Debt Exchange's website - - lists the management of the company. Whois shows the site was registered on February 19 2009. Contact is "Christopher Gantner" with a texas address and a yahoo email account. Interesting that they cite results from '08 but just launched a website in '09. Howard Person - the "president" of the "parent company" of HP Debt Exchange. According to LinkedIn, he also is the CFO of Etheral Entertainment, which as far as I can tell tries to sell half-cocked story ideas to movie studios. Chris Gantner - the "president" of HPDE - graduated community college in the early '90's. He and his brother evidently run Ganter Development, which evidently was flipping houses before they got into the fake investment business. BTW, the Gantner Development whois info goes to this residental neigborhood in Frisco TX. Someone with more time and skills than me could probably find even more shady stuff.... |
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Unbelieevable
- Addicted Member
posted: Jul. 4, 2009 @ 11:15p
SUCKISSTAPLES said:Unbelieevable said:Well, I won't say I was expecting something different, as I had sniffed out the scam in this before I had even posted it. I was just curious to see what you fine FWF folks had to say. It's just not a good thing for the bottom-feeding investor. If you can get in at the top level without all of the additional cuts being taken out before you see any gains, there's probably a potential for a nice return. For the average middle-class investor with $10k or $50k to invest, too many people take too much off the top before you get yours.
Actually, I would bet money that this is an outright scam and they they are NOT using all the "investor money" to actually buy these notes at all.
It sounds just like Agape...bring in a bunch of money, do a couple piddly deald, and pay off others with the funds of new suckers.
OP if you want the credit for outing these scammers for the lowlife trash they really are, start getting some addresses, loans etc and lets start verifying. I bet you wont get more than 4 or 5 , just like the # of projects Agape invested in. I haven't completely counted it out as being an outright scam. It very well could be. I have an address for the local guy that presented this to us, but I cut it from the scans of the docs I provided. I'm not really looking to get him in trouble, as I kinda think he's probably not even the puppet master in the whole thing. I think it may even be some sort of MLM-type thing and he's being coached by someone above him. He claimed to have already had $800k+ ready to go in on the next round of NPN buy-in at the meeting we had and said his target date was mid-July for the next buy-in. Of course, we didn't see any documentation proving any of that. Of course, he was also quoting all of these numbers and averages for each investment block, and then told us he'd only been with the company for 5 weeks. He kept telling us that you get your initial investment back in about 90 days, but flat out told us he'd only been doing it for 5 weeks. There were SO many things wrong about this whole situation. |
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Venturion
- Senior Member - 1K
posted: Jul. 4, 2009 @ 11:26p
In 2007 I found an opportunity that earned a ridiculous rate of return. What I quickly learned is that it didn't scale to meaningful amounts of money (six figures in my case) and was eventually discovered by others driving down the return to much less attractive rates. The other important lesson is that these truly great ideas are rarely shared by their participants, which is why I'm disclosing it now; my opportunity ended in 2008. |
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Crazytree
- Senior Member - 6K
posted: Jul. 5, 2009 @ 12:44a
Venturion said:In 2007 I found an opportunity that earned a ridiculous rate of return. What I quickly learned is that it didn't scale to meaningful amounts of money (six figures in my case) and was eventually discovered by others driving down the return to much less attractive rates. The other important lesson is that these truly great ideas are rarely shared by their participants, which is why I'm disclosing it now; my opportunity ended in 2008.why don't you disclose what the opportunity was now. |
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Venturion
- Senior Member - 1K
posted: Jul. 5, 2009 @ 12:16p
Sure. I was able to buy metro vouchers on the secondary market at significant discounts (15-50%) and then legally recycle them through a few channels back to the transit authority at full face value. The purchase through reimbursement cycle took about six weeks, netting me between 17% to 100% nominal return during that short window. I had a good six-figure run for about 18-months. The opportunity ended when the transit authority moved to an all-electronic system, practically shutting down the secondary market. [ETA] A few other entrepreneurs setup shop on the same sourcing channels I used, which also put pressure on the negotiable discount. At the end, I was regularly paying 85% to 90% of face value. |
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