A crypto pyramid scheme for casino games in Connecticut.

[Barikui1]

What surprises me in this fraud case is where the guy can say they have made profit from their investment and still ask them to make payment for withdrawal, which is another form of asking for more money. $900k for almost 5 years is small compared to the amount some Ponzi schemes run away with in a short while.

You don't have to be that surprised because when greed and ignorance works together, in the case of these victims now, nothing is impossible, because they will not stop and ask themselves questions that needed answers, and even though they find anything suspicious, they will still refuse to accept the reality on ground because their sense of reasoning will still not agree that they have been scammed, so they will still do as they are told, and be hoping that they are just imagining things, even though all the red flags are there. So do not downplay the power of ignorance and greed, especially when they are working together like this.

[viljy]

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I would not say people got into this scheme because they were greedy. They want their money to work, but they dont want to learn, dont want to face difficulties. All they want is to do nothing and gain $$$

That is, people crave passive income. Let’s assume it’s not greed, but rather laziness. Laziness to exert effort, even mental effort. Which is also a vice. And the whole situation might look like this: the swindler punishes some for greed and others for laziness. Wait a minute... in this logic, the swindler starts to look like a teacher guiding the flock onto the right path; he’s like a pastor purifying people from vices - deprived of money, they won’t be able to indulge in the vices of greed and laziness

PS It’s a joke about the pastor, of course.

[Emitdama]

He is a basketballer but he is not satisfied with the amount of money he is earning and he decided to upgrade it to stupidity or something that is very foolish that will have bad ending by advising people to invest and he is using the money to gamble on Stake. I do not know the reason some people do not know they can tarnish their name and the name of their family with investment fraud.

Do you think scammers and those about to do fraud think they are going to get caught? They don't, because they believe they are the smartest and whatever they are doing is not going to get them in trouble because based on their understanding, they are doing everything very well without making anyone suspicious about their activities and what they are doing. If he had thought it through, he wouldn't take such a big step in such a young age ruining all his life.

I also wonder how some people easily fall for such investment scams. This is not the first one, of course, there has been so many similar scams in the past, some about gambling, some about investments, but in all of them, it is only those who are greedy get trapped and then become victims of fraud. This guy was using the money to gamble and running the scheme by repaying some of the investors to make them invest more, but some scammers don't even do that, they simply collect investments, and then run away with the money. I don't know how he managed to find so many investors though.