There is a saying that goes "A fool and his money are easily parted" Since the dawn of time people have been queueing up to pay for the latest money making scheme. I suppose it's just sheer greed that lead people to want to make an easy dollar.
So when a trader comes along and offers "investors" a share in his horse trading venture at £50 a share there were quite a few takers. Profits would be withdrawn every month or you could re-invest and all he wanted for giving you free money was 5%, what a benevolent chap. But wait, there was to be more, having been a member of another trading group he was able to offer a football trading to the mix so there would be twice the profit. According to the website 1200 of these shares had been snapped up, so we're looking at around £60k in investment.What could possibly go wrong?
It's kind of difficult to know whether anything has gone wrong or not as the website has disappeared.As has most of the cash no doubt. The other thing that has disappeared is anybody's association with the trader who started the syndicate. No doubt in time the full story will surface.
Asking people to invest money for you is a dodgy business. Pension fund managers manage to screw it up and they are meant to be the best in the business so why people think some random punter from a chatroom will do any good is a mystery to me.Manage your own cash and be the master of you own destiny.