180 days and 1 year? That's ALL? You spend less time in jail for ponzi
scheme that robbing a bank.If what is written below is true, these
people all completely missed the red flags."The Smiths falsely
told investors they were earning “100 percent on every dime they put out
there,” investigators said.They allegedly told one investor that
"if everything were cut off today, we would have enough to pay every
investor back and still have $2 million left over," charging documents
If it sounds too good to be true.... it is.18%..., what more do they
need, a red painted sign saying "Danger, very Risky investments ahead?"
Oh the economic illiteracy in this country (any country actually). There is no
such thing as a GUARANTEED 18% return!!! I would be inclined to believe that
this was just a lot of bad luck on the part of the business if not for this 18%
guarantee. They were clearly going after trusting and unsophisticated investors.
This was doomed from the start.
I should like to know more about their restitution plan.Just exactly how
do they plan on earning back the millions owed to the investors?These
light sentences will not reduce affinity fraud among Latter-day Saints.
Perhaps crime does pay. And where did the money go? An innercity kid stealing
an IPad would get this much time.
There are guys in the Draper prison that have been there for years for stealing
far, far less. This is way too light of a sentence.
This seems like a light sentence and not nearly enough accountability. Investors
should have realized that this scheme was unsustainable and risky.
We will probably see more of these "lighter" sentences in the future.
The DOJ is trying to minimize prison overcrowding. They have already started
with druggies. They want possession to be a small misdemeanor.I'm okay with the sentence if they actually follow through with these
guys and ensure every dime of the investors is paid back.
IMO this punishment is a bit light. Maybe we should hang out the holly and the
ivy as it appears Christmas came early on this one.
Rob someone of a few hundred dollars with a gun and go to prison for life. Steal
a 1000 times the amount with a pen and get a year in the county jail. Is this a great country or what???
No matter how many times people are warned about investments promising a return
that is too good to be true, people continue to fall for it. Why? Are people
naïve or just greedy they do not notice, or choose not to notice the
A friend of mine attempted to rob a store but got scared at the last moment and
ran, judge wanted to give him 18 years, finally got reduced to 8. And these
people only 1 year? rapists 5 years and three of those on probation? Sad for our
country, no wonder things are the way they are. Sad.
So... burglarize a house and get months in jail, steal millions and get 180
days?? How is this even possible. No wonder people keep doing these crimes. The
payoffs can be huge, and in the off chance you get caught, you get minimal time.
And I am sure there is no way these snake oil salesmen can pay all of this money
back... Unless of course they start another pyramid scheme.
Once again....if it sounds too good to be true, it is! These scams keep popping
up, please be careful with your money.
Such a sad, recurring cycle of "friendly crime" here in Utah. It's
not as though the results of such schemes are kept secret from the public. We
read about this, at least, several times every year.Why are people so
prone to believe it will be "different and successful" for them, when
this has been going on for years?
I don't know if this answers everyone's questions, but it seems that
the trend is to hand out less severe punishments for non-violent crimes.
Non-violent drug crimes are punished less severely than any drug crime involving
violence. Stealing money with some semblance of associated violence seems to be
treated much more harshly than stealing money by deception.
Re: "I'm okay with the sentence if they actually follow through . . .
and ensure every dime of the investors is paid back."Yeah, and
if you believe that'll ever happen, I've got an opportunity to own a
bridge in Brooklyn I'd like to talk to you about.Restitution is
a scam, used by scam artists, their counsel, and the courts to fool people into
thinking there's more punishment out there, waiting for these miscreants
when they're turned loose.There isn't. You can't get
blood from a stone.If prosecutors and judges would rediscover their
ethics, sentences might approach those criminals actually deserve.This case is just embarrassing.
Way, way too light of a sentence. What a shame.
Aloha;Them that put so much money into this were apart of the crime. The
crime of greed got them.Never go into business with family, friends or
church members if you want your money back.That kind of money will get a
lot of people to do thing they would not normally do.I don't feel
sorry for them that believe 18% is real. Real is 5 or 6%.Shalom / Aloha
Poor example from a LDS Stake President.
Yes, sometimes high returns are signs of a scam.Most of the time
high returns of 20% to 100% are achieved by banks.The average bank
is turning money so often and can run a such a high leveraged point that they
average 50% returns.Why do so many people think high returns are a
scam just because a couple of unethical jokers scammed a few neighbors.Nobody gets rich on a 5% return.Invest in yourself and start your
own company where 1,000% returns are common!
To: Third try screen name - I agree with you. It's getting to be dangerous
to trust even family members with this "so-called great investments and
earnings". I'm sure they have been duped and are not aware of it and
want to share it with others but are blind to all the facts. My father was
convinced to invest a large sum into condominiums in Hawaii - he and others were
stolen from and they never received a penny and the perpetrator was a Bishop. We
just have to be careful - really seriously ponder all the facts, check them
yourself and pray about it. It's a shame there are people like this out
there...a darn shame.