by James Altucher, Casey Research:
I almost had $8 million stolen from me yesterday, so I’m in a bad mood. Someone wanted to borrow $8 million and use $18 million worth of stock certificates as collateral. I found a way to lend him the $8 million. The borrower had legal opinions from the companies involved (all big companies). He had bankers verifying his accounts. He had lawyers with bylaws, trilaws, whatever laws, to his corporations. He had access to material he would only have if he was intimately involved with the companies involved. He had lots of things to prove he was who he said he was.
Using our own detectives, we found out at the last minute that he’d forged everything. And his whole operation (lawyers, brokers, etc.) disappeared as soon as we uncovered the fraud.
When we found out, we all started laughing. Sometimes you can’t help but laugh at the entertainment the world throws in your face. Thank god we didn’t wire the money!
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