Author Topic: Scam Alert Sungames  (Read 364005 times)

Offline henche

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Re: Scam Alert Sungames
« Reply #540 on: August 28, 2014, 08:00:11 AM »
I canít believe all the hatred in this thread. We all know the DDF effect. I am surprised that many of you donít understand that only one DDF member is needed to have the same effect. We should think twice next time we post something. Also please give me a heads up next time so I can short the stock.

It's low volume--not necessarily easy to cover your short when you need to.

Offline buyitnow

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Re: Scam Alert Sungames
« Reply #541 on: August 28, 2014, 08:09:46 AM »
It's low volume--not necessarily easy to cover your short when you need to.

exactly. plus, the shorts themselves could be part of the scam. that was the theory with a similar stock scam that exploded a few months ago. company was called CYNK.

Offline Ergel

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Re: Scam Alert Sungames
« Reply #542 on: August 28, 2014, 08:15:14 AM »
I canít believe all the hatred in this thread. We all know the DDF effect. I am surprised that many of you donít understand that only one DDF member is needed to have the same effect. We should think twice next time we post something. Also please give me a heads up next time so I can short the stock.
You can sort a stock that trades OTC. Plus you'd have had trouble covering your short as a few people own all the stock
Life isn't about checking the boxes. Nobody cares.

Offline moko

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Re: Scam Alert Sungames
« Reply #543 on: August 28, 2014, 08:32:17 AM »
exactly. plus, the shorts themselves could be part of the scam. that was the theory with a similar stock scam that exploded a few months ago. company was called CYNK
now that's an ironic name for a scam

Offline Menachem613

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Re: Scam Alert Sungames
« Reply #544 on: August 28, 2014, 08:32:52 AM »
I was unable to short it. Tried when was trading at 30.

Offline aradisc

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Re: Scam Alert Sungames
« Reply #545 on: August 28, 2014, 08:44:09 AM »
A few Months ago someone asked me to get involved in a MLM that had to do with vitamins, I told them i don't do vitamins so I can't help. It's only here and subsequent research that I realize what could of happened.
(I don't recall the whole story accurately but I remember the words MLM)

Probably Amway Nutrilite, no?

Offline AbeBerkowitz

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Re: Scam Alert Sungames
« Reply #546 on: August 28, 2014, 09:52:45 AM »
 I saw the list of people involved - there are a bunch of monsey yeshivas that have put money into this. I guess this was a Monsey targeted scam. I was shocked to see some other tzedaka organizations in Monsey and names involved. It is amazing how stupid and i guess desperate people get when it comes to money. I just hope they were playing with Tzedakas money!

Offline Drago

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Re: Scam Alert Sungames
« Reply #547 on: August 28, 2014, 09:54:38 AM »
I just hope they were playing with Tzedakas money!
Why?? I'd rather ppl were stupid with their own money that with money that ppl donated to a tzedaka. Those in charge don't have the right to risk 'holy' money.

What were the types of sums you saw?

Offline Menachem613

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Re: Scam Alert Sungames
« Reply #548 on: August 28, 2014, 10:00:00 AM »

Why?? I'd rather ppl were stupid with their own money that with money that ppl donated to a tzedaka. Those in charge don't have the right to risk 'holy' money.

What were the types of sums you saw?

+1

Offline AbeBerkowitz

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Re: Scam Alert Sungames
« Reply #549 on: August 28, 2014, 10:05:13 AM »
 I agree with you. I hope they did not play with Tzedakas money.  You can play lots of games with Tzedaka money if the wrong people are running it- there can be lots of shtick. The Organization in Monsey that i saw involved is run by someone who owes lots of money out there. I can imagine where he got his money to invest in this one.

Offline Emkay

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Re: Scam Alert Sungames
« Reply #550 on: August 28, 2014, 10:12:01 AM »
Insiders as in victims or perpetrators?
The perpetrators would not be my friends

Offline Baruch

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Re: Scam Alert Sungames
« Reply #551 on: August 28, 2014, 10:26:28 AM »
I saw the list of people involved - there are a bunch of monsey yeshivas that have put money into this. I guess this was a Monsey targeted scam. I was shocked to see some other tzedaka organizations in Monsey and names involved. It is amazing how stupid and i guess desperate people get when it comes to money. I just hope they were playing with Tzedakas money!
Abe meant to say "I just hope they were not  playing with Tzedakas money". Stop arguing with him.

Offline Mountain Man

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Re: Scam Alert Sungames
« Reply #552 on: August 28, 2014, 10:34:19 AM »
I was unable to short it. Tried when was trading at 30.

You were very lucky to not be able to short it. The biggest part of the scam was the the borrowing costs were about 144% per annum. If you had shorted before it was frozen by the SEC you would probably have been out the borrowing costs at the very least.
See http://seekingalpha.com/article/2310595-update-cynk-technology-sensing-trouble-the-authorities-act-sort-of
Quote from: JTZ link=topic=10531.msg1695873
If you never had to eat crow then you lived one boring life.

Offline Ergel

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Re: Scam Alert Sungames
« Reply #553 on: August 28, 2014, 10:35:07 AM »
What I have a (perhaps morbid) curiosity to know is who are the people who swiped tens of thousands of dollars and are now out of luck? What are the horror stories? Are people too ashamed to speak up and say they were fooled? Obviously, tons of money was made here which means an equal amount of money was also lost. Who/where are these people?
People (at least the one I know) still believe they are going to get their money back (!!!)
Life isn't about checking the boxes. Nobody cares.

Offline Dan

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Re: Scam Alert Sungames
« Reply #554 on: August 28, 2014, 10:47:54 AM »
The perpetrators would not be my friends
Neither side would be friends of mine.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Online etech0

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Re: Scam Alert Sungames
« Reply #555 on: August 28, 2014, 10:55:29 AM »
Neither side would be friends of mine.
At least not anymore :)
Workflowy. You won't know what you're missing until you try it.

Offline Mountain Man

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Re: Scam Alert Sungames
« Reply #556 on: August 28, 2014, 11:06:30 AM »
Neither side would be friends of mine.

Maybe it's time for another MLM posting on the main site. People just aren't getting it. My wife just heard from a former teacher that her husband lost nearly 20k on another Lakewood scheme. She qualified it as "you live and learn". I don't understand how people don't get this. I think part of the underlying problem is that many people are supported and haven't worked for the bulk of their money. They don't understand the most basic tenant of wealth that quick wealth rarely comes and if it does it rarely lasts. Save the money put some effort into it and get some fundamental business education before signing away all your savings.   

Quote from: JTZ link=topic=10531.msg1695873
If you never had to eat crow then you lived one boring life.

Offline henche

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Re: Scam Alert Sungames
« Reply #557 on: August 28, 2014, 11:10:45 AM »
Neither side would be friends of mine.

Google is my only friend.

Offline ChaimMoskowitz

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Re: Scam Alert Sungames
« Reply #558 on: August 28, 2014, 11:11:58 AM »
Google is my only friend.
Your sig line says otherwise.  :P
I just found a new supply of forks!

Offline avremie

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Re: Scam Alert Sungames
« Reply #559 on: August 28, 2014, 01:10:47 PM »
According to LinkedIn profile of Avi wachsler he runs a camp in monsey that's probably why all his victims are from there.