QUOTE(lavenderguy @ Mar 21 2022, 08:47 AM)
i think those triumphfx investors all saying,"hey this triumpfx has been existing for years, no ponzi scheme will last that long to con ppl..so this one surely is safe.."
as Ponzi used funds from new investors to pay fake “returns” to earlier investors.
they use money from new investors to pay earlier investors and may steal some of the money for themselves.
With little or no legitimate earnings, Ponzi schemes require a constant flow of new money to survive. When it becomes hard to recruit new investors, or when large numbers of existing investors cash out, these schemes tend to collapse.
a well known ponzi scam that lasted decades
Federal investigators believe the fraud in the investment management division and advisory division may have begun in the 1970s. However, Madoff himself stated his fraudulent activities began in the 1990s.
Bernie Madoff was able to sustain the fraud for several years, withstanding a severe recession in the 1990s, a global financial crisis in 1998 and the jittery aftermath of the 9/11 attacks.
Through those years, Madoff earned a reputation as a man of his word–never failing to honour redemption requests and delivering the ‘profits’ that had been promised to his customers.
It was only after the crash of 2008 that the Ponzi scheme finally unravelled.
will the new investors be so lucky?
i don't think or suggest that triumphfx is a Ponzi scheme,....but i am more concern that it may end up with "restricted a/c access"
just like this latest posting by a forummer
Crypto platform || help needed, get restricted (Investment)
https://forum.lowyat.net/topic/5255107 This post has been edited by MUM: Mar 21 2022, 10:18 AM