Tesa

Don't Be Scammed by Madoff Investor Sob Stories

Mr. Rafat, I just read that Forrest Gump's writer had received 17% in 4 years which were invested with Madoff firm through another investment firm and he has questioned the claims being made about Madoff funds having extraordinary returns. Are you sure that "you" had really investigated the claims being made about the returns about the outrageous returns. What reference data did you use.

Don't Be Scammed by Madoff Investor Sob Stories

Mr. Rafat, if the returns offered by this firm were not as good, would that have excluded it from being a ponzi scheme?! so your rational based on the return is nonsensical.

You seem to believe that 10%-15% return should have flagged a ponzi scheme which is absurd because it didn't happen that way and nobody would have invested their money with them if they had any inclination it was a ponzi scheme.

A low return can not sort that out either. A ponzi scheme is a case of fraud and it can not be detected by investors if a firms is very established and has a long history. Most people use an establishment's history as a gauge for verifying authenticity and excluding fraud otherwise all firms are suspects.

Don't Be Scammed by Madoff Investor Sob Stories

Ironpants, mafia type operation would be like this. There has to be an orderly investigation and those really profiting and they have return the ill gotten gains. If the list of victims is known then the list of those profiting from his operation should also be known.

Don't Be Scammed by Madoff Investor Sob Stories

I disagree with the author. It doesn't matter who the clients were. It is one thing when the investments go sour and another when the operations of these firms are outright fraud and nothing but undiscovered pyramiding schemes.

Are investment firms in USA same as the ones in Nigeria!. It seems to me that he believes that this type of operation should be expected by the investors because the returns were too good although I believe many mutual funds boast about 10% return that I know they never deliver and neither did this one.

Is it expected that the investors would be hiring private detectives when publicly designated institutions for the purpose fail to monitor these firms. I expect that public institution to monitor all active investments firms and I expect to be compensated by those who profited by fraudulent operations if I was a client.