There was a Ponzi Scheme in Jamaica. It was simple.
It began when some average guy would tell you about this great investment. He’d tell you how he invested $100 and got back $200 and then brought in five more people, so he could reinvest.
Lots of people listened to this guy and others like him; (bona fide Shills) who brought in lots of people to invest in this Ponzi.
It was pretty clear to anyone who had a fully operational brain that this was a Ponzi Scheme.
I was warning a friend of mine about it, when this gal, put her mouth on maximum volume and began blasting me with; “You don’t know that! You can’t say that! It is real investment!”
She got this crowd, so I excused myself and rode away.
There are two Jamaican proverbs which apply; “When faight di tawk, light yu pipe”, (don’t answer fools) and “When yu fin a fool, yu ride him bareback”, (take a fool for all s/he has).
This scheme went on for a few years, until the police were involved.
The police went out to arrest the guy who ran the Ponzi scheme. When they came in, hundreds of his investors blocked the police’s access. Wisely, the cops got the press to film the crowd of people ‘protecting’ the guy who ran the scheme.
Eventually the guy was arrested at his home, charged, brought to court, granted bail, and was to face trial.
He was able to get the case put off on a number of occasions by changing lawyers and promising to return funds to those he had ripped off.
Those he promised to pay did not attend Court and so, the case was thrown out eight years after it was brought because there were no witnesses.
The guy defrauded millions of dollars and never paid back a penny and disappeared.
The public couldn’t believe it. There was one massive outcry, some blaming the Court, the prosecution, as this guy walked free.
I was not surprised.
The people who defended this guy, the people who allowed him to get away with it, were the same people he had ripped off. The same people who he duped the first time in getting them to invest their money, he duped the second time by promising to repay the money.