The Barbarian Investor
18th-March-2005, 09:25 PM
There are a number of people/organisations giving seminars or selling software out there who had better watch it or they'll be next!
http://www.asic.gov.au/asic/asic_pub.nsf/byheadline/04-176+ASIC+acts+against+option+trading+seminars?open Document
http://www.findlaw.com.au/cases/caseRTF.asp?id=349888
money tree
18th-March-2005, 10:23 PM
yeah and since ASIC is so tough Im sure they are all shakin in their boots.
Why not do seminars when the worst case scenario is a "please stop doing that" slap on the wrist from ASIC. Let me see, a few million bucks for a few years, then a court order to stop.......wheres the risk?
Whoever said 'crime doesnt pay' obviously didnt forsee the pissweak justice system we now have.
ASIC should grow a set of balls....
tech/a
19th-March-2005, 08:06 AM
Yeh
Just ask Rivkin.!!!!
Im sure he'd agree with you. :sly:
money tree
19th-March-2005, 10:54 AM
get off it
rene got rich from a network of inside info. he ripped off aussies for 20 years, even his own subscribers!
They knew for years but couldnt prove it. Its a bit like Al Capone.
Pan was a sting I think. ASIC went undercover and got into his inside info circle, spread the word that Pan had a major announcement coming and they all bought it.
I personally know a trader who was a good friend of Rene's. For years I watched him buy a stock the day before a big announcement. He made millions. It was obvious to me what was going on. Then he bought Pan days before it went belly up. He lost heaps. I thought that it was ironic that the last tip Rene gave took back some of the money this network stole from other aussies. It also left a bad taste in the subscribers mouths and exposed the network. He got greedy. He was dumping stock on his own subscribers.
He couldnt trade to save himself. Anyone could see that. Without inside info he was nothing. he came from a very wealthy lebanese family so dont think he was successful cos he has money.
:swear: