Anonymous one time post. I handle the financials for a guy and his multiple companies. The owner of the company I work for has an investment broker, he's been around for a handful of few years. Almost every month (more in recent months than previously) the broker tells him he can get him a 30% return, the minimum he can buy in for every month is a million - which he takes in towards the end of every month. The owner has invested many millions and gets an interest check at the beginning of every month. I talk with both the owner and the broker fairly regularly. I was told that an extra million invested increases the monthly interest by about $23k - so annually that's about 28%. The broker has made comments such as, "I have up to $10M available for this investment this month". I don't know what it's actually invested in - although he does get a statement, I just haven't looked close enough at what it's invested in (although if it truly is a ponzi scheme, the statement very well could be fake). The owner has mentioned this to many other professionals he works with and many of them have reached out to me about how it's very fishy. I met the investment broker once, as did one of these other professionals, and we both had the same reaction - the broker is very arrogant, super questionable, and just comes off as a complete scum bag.
The broker is listed on the website for a major investment bank. He's listed on Advisor Check and Broker Check and has what looks like a clean record - over a dozen years experience with multiple firms, multiple exams passed, licensed in 30+ states.
Am I thinking wrong here? I just can't believe the return, it's completely unrealistic. It's also odd that the minimum is $1m and the guy is trying to sell more investments at the end of every month, then paying out interest at the beginning of every month - seems a bit like robbing Peter to pay Paul. I've thought about making an anonymous tip to the SEC, but I feel like I'm risking a lot by doing so. I don't even know how to approach this. In my mind there's no chance this is legit, but at the same time, the interest checks have been coming in without issue. And what about the Broker Check stuff and doing everything under a major investment bank? I don't know enough about those things.
Submitted February 13, 2024 at 10:04PM by anonoman010101 https://ift.tt/GYhovCr
