I'm curious where it is based. Hosting a website which 1. makes false investment promises, and 2. raises fund to invest in an illegal activity encompasses several serious felonies in the US.
It's one thing for an individual to place a bet... But taking money for the claimed purpose of betting would fall under the Wire Act.
The sad thing is lots of people will still "try" it, hoping to make easy money.
It's one thing for an individual to place a bet... But taking money for the claimed purpose of betting would fall under the Wire Act.
The sad thing is lots of people will still "try" it, hoping to make easy money.
Registrant:
Domains by Proxy, Inc.
15111 N Hayden Rd., Suite 160
PMB353
Scottsdale, Arizona 85260
United States
Registered through: GoDaddy.com
Domain Name: HEDGESYN.COM
Created on: 19-Aug-03
Expires on: 19-Aug-04
Last Updated on: 20-Aug-03
Administrative Contact:
Private, Registration HEDGESYN.COM@domainsbyproxy.com
Domains by Proxy, Inc.
15111 N Hayden Rd., Suite 160
PMB353
Scottsdale, Arizona 85260
United States
(480) 624-2599
Technical Contact:
Private, Registration HEDGESYN.COM@domainsbyproxy.com
Domains by Proxy, Inc.
15111 N Hayden Rd., Suite 160
PMB353
Scottsdale, Arizona 85260
United States
(480) 624-2599
Domain servers in listed order:
NS1.NETXN.COM
NS2.NETXN.COM
Domains by Proxy, Inc.
15111 N Hayden Rd., Suite 160
PMB353
Scottsdale, Arizona 85260
United States
Registered through: GoDaddy.com
Domain Name: HEDGESYN.COM
Created on: 19-Aug-03
Expires on: 19-Aug-04
Last Updated on: 20-Aug-03
Administrative Contact:
Private, Registration HEDGESYN.COM@domainsbyproxy.com
Domains by Proxy, Inc.
15111 N Hayden Rd., Suite 160
PMB353
Scottsdale, Arizona 85260
United States
(480) 624-2599
Technical Contact:
Private, Registration HEDGESYN.COM@domainsbyproxy.com
Domains by Proxy, Inc.
15111 N Hayden Rd., Suite 160
PMB353
Scottsdale, Arizona 85260
United States
(480) 624-2599
Domain servers in listed order:
NS1.NETXN.COM
NS2.NETXN.COM
My thoughts are this: it's doable if you can find one decent scalp per day, simplistically risking about $1,000 total split between the opposite sides of the same bet (say at +115 and -110) ... if you maxed out each time using only the original $1,000, each scalp would net you $11.21. 10 scalps would net you $112.01 in 10 days, a return of 11.20% in 10 days.
The problem with this is of course that once you win one side of the bet, you're busted at one book, and you have to get money back in, and of course the xfr fees would kill your profit. This means you'd have to have a considerably larger bankroll, and a number of accounts, in order to be able to not have to transfer as much - wherein the concept of a 'pooled' amount actually makes sense.
However, there's no way in hell I'd ever sign up with one of these outfits - you have absolutely no idea whether this is a Ponzi scheme, in which the incoming deposits are used to pay off the 10%, which not only keeps everyone happy for a while but also makes them greedy, sending in more and more. Once you get what you wanted, you simply pocket all of the money left, by now pretty large, take your site down and vanish. Also, any re-up or sign-up bonuses will be kept by the outfit, and they could also be gambling with your money or doing middles, and if degenerate enough could simply go broke.
Bottom line: you'd be nuts to send money to an outfit offshore for this 'investment'.
The problem with this is of course that once you win one side of the bet, you're busted at one book, and you have to get money back in, and of course the xfr fees would kill your profit. This means you'd have to have a considerably larger bankroll, and a number of accounts, in order to be able to not have to transfer as much - wherein the concept of a 'pooled' amount actually makes sense.
However, there's no way in hell I'd ever sign up with one of these outfits - you have absolutely no idea whether this is a Ponzi scheme, in which the incoming deposits are used to pay off the 10%, which not only keeps everyone happy for a while but also makes them greedy, sending in more and more. Once you get what you wanted, you simply pocket all of the money left, by now pretty large, take your site down and vanish. Also, any re-up or sign-up bonuses will be kept by the outfit, and they could also be gambling with your money or doing middles, and if degenerate enough could simply go broke.
Bottom line: you'd be nuts to send money to an outfit offshore for this 'investment'.
Can you say Ponzi scheme. Just do the math, that would be something like $2800 annually on a an initial investment of $100, if you leave it in there and just have it compounding at 10% every ten days. If someone could do this, why would they need other peoples monies. I imagine what the guy will do, is make deposits at a lot of sportsbooks and collect the bonuses and pay everyone back off from that money and new deposits, then once he collects enough, abscond with the money. There is no way anyone could promise these kind of returns over the long term. Your money is probably safe for the first couple of months as he will want to build up some trust to get the really big deposits.
I got one 'amen' from topsinner on the Ponzi scheme, can we get another!?? LOL - yeah, good point about why needing other people's money, too.
People all over this world are defrauded of millions and probably hundreds of millions of dollars by Ponzi schemes, because they are responding to the greed urges within them. Here's some examples from Forbes magazine from just 1999 - enjoy:
Rogues, rubes and rip-offs: a year of swindles
Ponzi pushers
Steven Stackpole. He and partner Douglas D'Arpino told New Jersey investors they would get safe, high yields by buying into wishing wells that collected money for charity. Took in $1.9 million; some early investors got $500,000 back. Stackpole is serving six years. D'Arpino hasn't been found.
Teddy Wayne Solomon. Offered "prime bank instruments" with astronomical returns. Accused of raising $4.3 million from credulous investors, paying back $1.4 million to those who got in early. The Securities & Exchange Commission has obtained a $2.9 million judgment against Solomon; he has pleaded not guilty to criminal charges.
Richard Scott. A Maryland coin dealer who allegedly said he could find undervalued collections at estate liquidations and sell them for a guaranteed 15% profit; he also offered to invest in securities. Took in estimated $7.5 million, $2 million of it from novelist Tom Clancy. He disputes the charges and is awaiting trial this summer.
Donald Hill Williams. An investment scheme that started off legitimate, selling partnerships in California real estate funds. As the California real estate recession deepened, Williams was increasingly paying off early investors with proceeds from new funds. Serving 37 months, ordered to repay $30.5 million.
Gerald P. Hirsch. His Ponzi scheme lasted a decade and raised at least $20 million. Sold mortgage participation notes or "certificates of deposit" that offered high, safe returns. Investors were in effect paying off earlier investors and covering Hirsch's losses in other businesses. Pleaded guilty to federal charges and now awaiting sentencing.
Edward Reiners and John Ruffo. Extracted loans from a consortium of banks with a cock-and-bull story about their work for a "supersecret" Philip Morris project that needed huge loans to buy computers. Took $350 million, part of which was used to make timely interest payments on the early loans. Reiners is now in prison serving 202 months and Ruffo, who was convicted but freed on bail, is on the lam.
James R. Isbey. A creative fellow in the Spokane area, who offered returns of 65% in a matter of days, claiming he could do it by fixing horse races. In fact, he didn't fix any races, but used proceeds of later investments to pay off the earlier guys. Hasn't been charged with any crime, but a husband-and-wife team who helped him solicit investments received two years' probation for a related tax fraud.
James Staples. Peddled investments in Legend Sports, a feeble driving range and batting cages operator. Staples and associates sold hundreds of Floridians on the deal, which promised 12% returns, backed by "guarantee bonds." Consented to an injunction promising to pay back some of the money; now facing criminal charges in a Florida court.
Took the money, ran
Paul W. Eggers. A former general counsel of the U.S. Treasury (in the Nixon Administration), helped raise $8 million with a sales pitch about huge profits to be made from a "high-yield investment program" purportedly backed by 25 large banks. Served one month in prison, spending another 11 in home confinement. Nearly all the cash has been returned.
Lewis Rivlin. A Washington, D.C. lawyer and ex-husband of Alice Rivlin, extracted $1 million from an Ecuadorean foundation, the story being the money would be rapidly doubled or quadrupled via a secret trading program monitored by the Treasury Department and known to only privileged insiders. A Washington, D.C. district court judge has ordered him to repay the money.
Henry J. Lyons. Until this March, served as president of the National Baptist Convention USA. Took at least $4.8 million of charity flowing into the convention-the largest single organization of black churches-and diverted it for his own use. Serving a 51/2-year sentence on Florida charges, awaiting federal sentencing. Ordered to repay $2.9 million.
Cold call, hard sell
A.R. Baron. The brokerage took in $75 million from 8,000-odd small investors in the 1990s. The prosecution of the principals is winding down. Last year the firm's chief financial officer was sentenced to 5-to-15 years.
The Adelaide Street boys. A marvelously zany swindle, in which characters operating in Toronto and Florida would get on the phone and sell allegedly precious metals like germanium for as much as $85 an ounce. Most of the metal sold was industrial stuff worth maybe $7 an ounce. The federal indictment says the investors lost $10 million. Two of the ringleaders are awaiting sentencing, the feds are trying to extradite the third from Spain.
People all over this world are defrauded of millions and probably hundreds of millions of dollars by Ponzi schemes, because they are responding to the greed urges within them. Here's some examples from Forbes magazine from just 1999 - enjoy:
Rogues, rubes and rip-offs: a year of swindles
Ponzi pushers
Steven Stackpole. He and partner Douglas D'Arpino told New Jersey investors they would get safe, high yields by buying into wishing wells that collected money for charity. Took in $1.9 million; some early investors got $500,000 back. Stackpole is serving six years. D'Arpino hasn't been found.
Teddy Wayne Solomon. Offered "prime bank instruments" with astronomical returns. Accused of raising $4.3 million from credulous investors, paying back $1.4 million to those who got in early. The Securities & Exchange Commission has obtained a $2.9 million judgment against Solomon; he has pleaded not guilty to criminal charges.
Richard Scott. A Maryland coin dealer who allegedly said he could find undervalued collections at estate liquidations and sell them for a guaranteed 15% profit; he also offered to invest in securities. Took in estimated $7.5 million, $2 million of it from novelist Tom Clancy. He disputes the charges and is awaiting trial this summer.
Donald Hill Williams. An investment scheme that started off legitimate, selling partnerships in California real estate funds. As the California real estate recession deepened, Williams was increasingly paying off early investors with proceeds from new funds. Serving 37 months, ordered to repay $30.5 million.
Gerald P. Hirsch. His Ponzi scheme lasted a decade and raised at least $20 million. Sold mortgage participation notes or "certificates of deposit" that offered high, safe returns. Investors were in effect paying off earlier investors and covering Hirsch's losses in other businesses. Pleaded guilty to federal charges and now awaiting sentencing.
Edward Reiners and John Ruffo. Extracted loans from a consortium of banks with a cock-and-bull story about their work for a "supersecret" Philip Morris project that needed huge loans to buy computers. Took $350 million, part of which was used to make timely interest payments on the early loans. Reiners is now in prison serving 202 months and Ruffo, who was convicted but freed on bail, is on the lam.
James R. Isbey. A creative fellow in the Spokane area, who offered returns of 65% in a matter of days, claiming he could do it by fixing horse races. In fact, he didn't fix any races, but used proceeds of later investments to pay off the earlier guys. Hasn't been charged with any crime, but a husband-and-wife team who helped him solicit investments received two years' probation for a related tax fraud.
James Staples. Peddled investments in Legend Sports, a feeble driving range and batting cages operator. Staples and associates sold hundreds of Floridians on the deal, which promised 12% returns, backed by "guarantee bonds." Consented to an injunction promising to pay back some of the money; now facing criminal charges in a Florida court.
Took the money, ran
Paul W. Eggers. A former general counsel of the U.S. Treasury (in the Nixon Administration), helped raise $8 million with a sales pitch about huge profits to be made from a "high-yield investment program" purportedly backed by 25 large banks. Served one month in prison, spending another 11 in home confinement. Nearly all the cash has been returned.
Lewis Rivlin. A Washington, D.C. lawyer and ex-husband of Alice Rivlin, extracted $1 million from an Ecuadorean foundation, the story being the money would be rapidly doubled or quadrupled via a secret trading program monitored by the Treasury Department and known to only privileged insiders. A Washington, D.C. district court judge has ordered him to repay the money.
Henry J. Lyons. Until this March, served as president of the National Baptist Convention USA. Took at least $4.8 million of charity flowing into the convention-the largest single organization of black churches-and diverted it for his own use. Serving a 51/2-year sentence on Florida charges, awaiting federal sentencing. Ordered to repay $2.9 million.
Cold call, hard sell
A.R. Baron. The brokerage took in $75 million from 8,000-odd small investors in the 1990s. The prosecution of the principals is winding down. Last year the firm's chief financial officer was sentenced to 5-to-15 years.
The Adelaide Street boys. A marvelously zany swindle, in which characters operating in Toronto and Florida would get on the phone and sell allegedly precious metals like germanium for as much as $85 an ounce. Most of the metal sold was industrial stuff worth maybe $7 an ounce. The federal indictment says the investors lost $10 million. Two of the ringleaders are awaiting sentencing, the feds are trying to extradite the third from Spain.
Here's one that happened here in the U.S. in the mid-90s ... religious groups are continually falling victim to multi-million dollar Ponzi schemes, but major banks and some very, very smart people fell for the following one:
"John Bennett scammed hundreds of respected institutions and individuals by adopting one of the simplest and oldest fraud schemes - the Ponzi. Are there lessons for internal auditors in this classic case? Between 1989 and 1995, 180 organizations and 150 of the most financially-savvy philanthropists in America fell victim to the largest fraud ever to occur in the non-profit sector. More than $400 million was invested with New Era Philanthropy and John G. Bennett, Jr. in what turned out to be a grand Ponzi scheme."
Bennett promised these people, a lot of them sophisticated, that they could double their money in 6 months by means of matching grants.
Greed kills.
"John Bennett scammed hundreds of respected institutions and individuals by adopting one of the simplest and oldest fraud schemes - the Ponzi. Are there lessons for internal auditors in this classic case? Between 1989 and 1995, 180 organizations and 150 of the most financially-savvy philanthropists in America fell victim to the largest fraud ever to occur in the non-profit sector. More than $400 million was invested with New Era Philanthropy and John G. Bennett, Jr. in what turned out to be a grand Ponzi scheme."
Bennett promised these people, a lot of them sophisticated, that they could double their money in 6 months by means of matching grants.
Greed kills.
Click on their forum, if you want a good laugh.
From the owners post:
Our limits.
We have two set limits for when we hit certain amounts.
The first is to close off to new members, this will happen anytime from Dec - Feb.
Around 6 months after that there will be no compounding. We are hoping that most people can get up to around $10,000 in their acc and be happy with $1,000 every ten days.
I for one would not be happy with just $1000 exery 10 days
From the owners post:
Our limits.
We have two set limits for when we hit certain amounts.
The first is to close off to new members, this will happen anytime from Dec - Feb.
Around 6 months after that there will be no compounding. We are hoping that most people can get up to around $10,000 in their acc and be happy with $1,000 every ten days.
I for one would not be happy with just $1000 exery 10 days
Here are their bets:
We are adding a new section to our site, it will show what bets we make.
Here is what we made today as an example:
All of these bets are from the Carling Cup in England:
Game 1
Bolton Wanderers $2.25 (+125) Willian Hill
DRAW $3.60 (+260) Intertops
FC Gillingham $5.50 (+450) Ladbrokes
10.6% profit regardless of the result.
Game 2
FC Reading $2.00 (+100) William Hill
DRAW $4.00 (+300) Paddy
Huddersfield Town $6.50 (+550) Intertops
10.6% profit regardless of the result.
Game 3
Wolverhampton Wanderers $2.10 (+110) William Hill
DRAW $3.75 (+275) Betabet
FC Burnley $6.00 (+500) Ladbrokes
9.9% profit regardless of the result.
Game 4
Wigan Athletic $2.75 (+175) William Hill
DRAW $3.50 (+2.50) Betabet
FC Middlesbrough $3.50 (+250) William Hill
7.0% profit regardless of the result.
Game 5
Tottenham Hotspurs $2.20 (+120) William Hill
DRAW $3.50 (+250) Ladbrokes
West Ham United $5.00 (+400) Paddy Power
6.4% profit regardless of the result.
Game 6
FC Everton $2.50 (+150) William Hill
DRAW $3.60 (+260) Betabet
Charlton Athletic $3.75 (+275) William Hill
5.9% profit regardless of the result.
Game 7
FC Blackpool $3.30 (+230) William Hill
DRAW $3.40 (+240) Betabet
Crystal Palace FC $2.87 (+187) William Hill
5.7% profit regardless of the result.
Game 8
Bristol City $5.00 (+400) William Hill
DRAW $3.40 (+240) UK Bet
FC Southampton $2.20 (+120) William Hill
5.4% profit regardless of the result.
Game 9
Nottingham Forest $3.00 (+200) Willaim Hill
DRAW $3.30 (+230) UK Bet
FC Portsmouth $3.20 (+220) William Hill
5.4% profit regardless of the result.
Game 10
Queens Park Rangers $4.50 (+350) William Hill
DRAW $3.60 (+260) Betabet
Manchester City $2.20 (+120) William Hill
4.7% profit regardless of the result.
Game 11
Aston Villa $2.20 (+120) William Hill
DRAW $3.50 (+250) Ladbrokes
Leicester City $4.50 (+350) William Hill
4.0% profit regardless of the result.
Game 12
Chelsea London $1.28 (-360) William Hill
DRAW $7.00 (+600) Paddy Power
Notts County $19.00 (+1800) Paddy Power
2.4% profit regardless of the result.
We are adding a new section to our site, it will show what bets we make.
Here is what we made today as an example:
All of these bets are from the Carling Cup in England:
Game 1
Bolton Wanderers $2.25 (+125) Willian Hill
DRAW $3.60 (+260) Intertops
FC Gillingham $5.50 (+450) Ladbrokes
10.6% profit regardless of the result.
Game 2
FC Reading $2.00 (+100) William Hill
DRAW $4.00 (+300) Paddy
Huddersfield Town $6.50 (+550) Intertops
10.6% profit regardless of the result.
Game 3
Wolverhampton Wanderers $2.10 (+110) William Hill
DRAW $3.75 (+275) Betabet
FC Burnley $6.00 (+500) Ladbrokes
9.9% profit regardless of the result.
Game 4
Wigan Athletic $2.75 (+175) William Hill
DRAW $3.50 (+2.50) Betabet
FC Middlesbrough $3.50 (+250) William Hill
7.0% profit regardless of the result.
Game 5
Tottenham Hotspurs $2.20 (+120) William Hill
DRAW $3.50 (+250) Ladbrokes
West Ham United $5.00 (+400) Paddy Power
6.4% profit regardless of the result.
Game 6
FC Everton $2.50 (+150) William Hill
DRAW $3.60 (+260) Betabet
Charlton Athletic $3.75 (+275) William Hill
5.9% profit regardless of the result.
Game 7
FC Blackpool $3.30 (+230) William Hill
DRAW $3.40 (+240) Betabet
Crystal Palace FC $2.87 (+187) William Hill
5.7% profit regardless of the result.
Game 8
Bristol City $5.00 (+400) William Hill
DRAW $3.40 (+240) UK Bet
FC Southampton $2.20 (+120) William Hill
5.4% profit regardless of the result.
Game 9
Nottingham Forest $3.00 (+200) Willaim Hill
DRAW $3.30 (+230) UK Bet
FC Portsmouth $3.20 (+220) William Hill
5.4% profit regardless of the result.
Game 10
Queens Park Rangers $4.50 (+350) William Hill
DRAW $3.60 (+260) Betabet
Manchester City $2.20 (+120) William Hill
4.7% profit regardless of the result.
Game 11
Aston Villa $2.20 (+120) William Hill
DRAW $3.50 (+250) Ladbrokes
Leicester City $4.50 (+350) William Hill
4.0% profit regardless of the result.
Game 12
Chelsea London $1.28 (-360) William Hill
DRAW $7.00 (+600) Paddy Power
Notts County $19.00 (+1800) Paddy Power
2.4% profit regardless of the result.
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR> Author: Cheryl
Date: 10-29-03 01:41
I can see it closing to the general public...but thank heavens we are already in!!
Hedge Syn so far has been a "Class Act"!!! KEEP UP THE GREAT WORK HEDGE SYN <HR></BLOCKQUOTE>
I see they have their forum ghosts in place already
Date: 10-29-03 01:41
I can see it closing to the general public...but thank heavens we are already in!!
Hedge Syn so far has been a "Class Act"!!! KEEP UP THE GREAT WORK HEDGE SYN <HR></BLOCKQUOTE>
I see they have their forum ghosts in place already
