recently I have a family friend who came into some money, they hold a fairly high social status - they have told me of investments they have, and I have been told by them that they can turn small sums of money like 10,000 dollars into hundreds of thousands. Now, I know they aren't lying but what kind of investment could this be, I know it takes place off shore, is it a pyramid scheme?
2007-02-11 14:40:53 · 3 answers · asked by whitelampshade 2 in Business & Finance ➔ Other - Business & Finance
Drug trafficing. That would also explain why they havn't told you how they did it. If they are trafficing drugs, tell them that if he gets audited, they will catch him. That's how most drug trafficers are caught.
2007-02-11 14:49:40 · answer #1 · answered by Anonymous · 1⤊ 0⤋
I'd be wary. First of all, people are known to exaggerate wildly when it comes to talking about the sums of money they've made.
Secondly, if it's an investment pitch, you should remember the adage "if it sounds too good to be true, it probably is". It would be somewhat delusional and irresponsible to expect a rate of return in that range. Even a 20% rate of return on one's investment is considered fantastic by most people.
If he's asking you to consider investing some money in a joint venture, I'd ask for documentation of the rate of return he claims to have generated in the past before I agreed to invest any funds with him.
2007-02-11 22:50:10 · answer #2 · answered by Anonymous · 1⤊ 0⤋
believe little and hold onto your little.
2007-02-12 00:03:12 · answer #3 · answered by cork 7 · 0⤊ 0⤋