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Thread: Couple blows R9m in 10 months

  1. #16

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    Party on brother!!!

  2. #17

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    If you read the article, they actually lost 7.5 million in the failed investment, bought 3 cars and paid a subcontractor for 500k.

    They canít even spend their stolen money properly.

  3. #18
    Super Grandmaster YingYang's Avatar
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    ^ I saw that too. How on earth do you lose so much money in a failed investment
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  4. #19

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    The love of money is the route to all evil - has been so and ever will be so !
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  5. #20
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    Quote Originally Posted by ForceFate View Post
    Party on brother!!!
    Thought so.
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  6. #21

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    Quote Originally Posted by Cius View Post
    So idiotic. The only thing you do with money like that is invest it. Then return it within a reasonable amount of time and keep the interest for the trouble they caused you.

    Even at money market rates you could have been earning 50K per month on that cash and no jail time is required then.
    This ^

  7. #22

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    Quote Originally Posted by Slootvreter View Post
    Thought so.
    Thanks bro!

  8. #23

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    Quote Originally Posted by YingYang View Post
    ^ I saw that too. How on earth do you lose so much money in a failed investment
    Probably some shady scheme. I know someone who once led an old man to "invest" in some shady scheme. R800k (found this out when scheme collapsed. I'll look for name of scheme). All gone. Same guy approached me as well. I politely asked him to eff off.

    He left town when the scheme blew open.

    Edit: Defencex or something of that sort
    Last edited by ForceFate; 13-10-2017 at 09:39 AM.

  9. #24
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    I would have taken that money, clothed and fed every single starving poor child in the country (not fussed if you think that is virtue signalling, I know my heart and what I am)

    This couple had the opportunity to do some good even if they burned for it, instead they turned out to be the same rotten thieving lot they stole it from.
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  10. #25
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    Quote Originally Posted by YingYang View Post
    ^ I saw that too. How on earth do you lose so much money in a failed investment
    Bitcoin, MMM, many options to piss away your money double quick
    none so blind as those who refuse to see

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  11. #26

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    Quote Originally Posted by NarrowBandFtw View Post
    Bitcoin, MMM, many options to piss away your money double quick
    Que? It's the highest it's ever been and poised to climb still...
    It's easy to think that religion is a lie when all I see is the hypocrite through the splinters in my eyes.

  12. #27

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    Quote Originally Posted by NarrowBandFtw View Post
    Bitcoin, MMM, many options to piss away your money double quick
    pfft, if they had put that R7mil into btc 10mnths ago it'd be worth R35mil+ today

  13. #28
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    Quote Originally Posted by backstreetboy View Post
    Que? It's the highest it's ever been and poised to climb still...
    Indeed, and everyone and their dog is buying it thinking it can only go higher, just like people who over leveraged themselves to buy property at the height of that bubble circa 2007. Guess what happens next (eventually) ...

    Point being, it is not a sound investment, it's speculation akin to the roulette table. Sure, many people have become rich from betting it all on black, many have also lost everything.
    none so blind as those who refuse to see

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  14. #29

    Default Couple blows R9m in 10 months

    Quote Originally Posted by Cius View Post
    So idiotic. The only thing you do with money like that is invest it. Then return it within a reasonable amount of time and keep the interest for the trouble they caused you.

    Even at money market rates you could have been earning 50K per month on that cash and no jail time is required then.
    Exactly! And can be explained as way to ensure preservation and protect from hackers (sim swap etc) due to delay in payout & paperwork needed to give notice of withdrawal.

    So seems the had right plan but wrong vehicle and tried to enjoy a bit of what they thought was going to the profit.
    Last edited by krycor; 13-10-2017 at 04:41 PM.
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  15. #30

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    Quote Originally Posted by Temujin View Post
    pfft, if they had put that R7mil into btc 10mnths ago it'd be worth R35mil+ today
    Yes but the risk would be too high. BitCoin is close to the peak of not passed so I expect to crash along the way again.. imagine the authorities come knocking during a dip..

    2ndly it would be very hard to explain why you thought it best to preserve/isolate the funds there.
    When have you demonstrated leadership skills?
    "Well my best example would be in online video gaming. I pretty much run the show; it takes a lot to do that."

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