Re:The wildest insurance fraud scheme in Texas
by sizzle on Tuesday August 25, 2020 @02:20PM
(#24274317)
Wow that's a crazy story that would benefit from the streisand effect to enact some justice on those scumbag lawyers. Any idea why your friend isn't trying to actively expose these individuals who screwed him over?
Re:The wildest insurance fraud scheme in Texas
by 3pt14159 on Tuesday August 25, 2020 @02:31PM
(#24274456)
Well, at first he was worried that he'd be known as a sucker and wouldn't be able to raise money for another company. "I sold XYZ for $100m, now fund my new thing ABC." Sounds a lot better than the raw truth. Since then, he's started something that's doing well. Some pretty interesting investors, some market traction, but he's still no where near being worth $100m.
Re:The wildest insurance fraud scheme in Texas
by jldugger on Tuesday August 25, 2020 @01:12PM
(#24273559)
Wonder if you could get a judgement and get the domains back.
Re:The wildest insurance fraud scheme in Texas
by boringg on Tuesday August 25, 2020 @01:27PM
(#24273727)
Wasn’t madoffs whole Rolodex of investors by word of mouth?
Re:The wildest insurance fraud scheme in Texas
by Scoundreller on Tuesday August 25, 2020 @02:25PM
(#24274382)
It’s hard for an accountant to use their incoming tax returns to payoff their existing tax returns.
Over a decade ago, a friend of mine was under the legal age when he sold his collection of websites with the same theme for around $100m. I'm sure you've heard of at least one of the properties. Being underage, he didn't know how to protect himself, and he gave his lawyers power of attorney. They took almost the entire acquisition for themselves and left the USA.
That's fraud. Those guys are still out there. He contacted other lawyers and they basically said "it's been too long the money is gone and so are these criminals."