Originally no but now that's where it's holding, I saw the email with the response from the R"Y. (My friend manages the yeshivas emails)
They were originally promising crazy triple digit returns within a few weeks- this is going back to early last year .
Recently, they were promising for every 10,000 you get a million back. It was insane. The funny thing was , people were asking serious questions on the conference calls that they were taking this promise seriously.
Some leaders did make " brokers fees" originally. They could care less if this was a real deal or not. They were just padding their own pockets.
I know a few investors , they are all pissed but afraid to do anything becasue it may lead to arrests of rabbonim who were leaders.
The credit card processing company was committing fraud setting up fake accounts. The rabbonim involved where looking out to make their own money off other peoples investments. There is so much going on- The FBI heads will spin. Problem is , it will be hard to cover up because so much is in emails and recorded calls that cannot be denied.
Topic Wiki
