http://espn.go.com/espn/otl/story/_...er-georgia-bulldog-coach-accused-ponzi-scheme
Did he used some of that cash to pay for players?
Did he used some of that cash to pay for players?
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Heard about this about an ex-UGA coach?
- Thread starter Leakfan12
- Start date
robdog
Gator Fan
I am sure an investigation will follow. And if it turns out to be true, I will not be surprised...
Just becoming more and more common unfortunately.
Just becoming more and more common unfortunately.
There are so many variations on this (very old) scam, and somehow otherwise fairly smart individuals keep getting taken by them...The simplest version involves something like getting invited to a "party" by folks you know where a pitch is made, while at the same get together a number of people receive checks for generous amounts supposedly representing the first dividends for "early investors", and everyone else is supposed to get caught up in the excitement and happiness of a supposed "sure thing" and put their own money in. No matter what, in this and more elaborately "corporate" versions, the idea is to play on people's greed, of the common desire to " get something for nothing". I saw some friends get suckered in one of these just last year--practically ruined our friendship when I tried to warn them; I was berated for my negativity, told I didn't know anything about it, didn't know what I was talking about, etc. Needless to say, it turned out badly for them (now they're just embarrassed--and significantly poorer). You know what they say about "If it's too good to be true"...
(A convicted large-scale con man I once interviewed for a documentary, a fellow who now works for the government helping to trace and bust such schemes, told me the "con man" isn't called that because he goes after YOUR confidence, but rather because he gives you HIS, to all appearances, and in return, in your naivete on the one hand and blind greed on the other, rush headlong to surrender yours entirely...called it "a strange quirk of human nature".)
(A convicted large-scale con man I once interviewed for a documentary, a fellow who now works for the government helping to trace and bust such schemes, told me the "con man" isn't called that because he goes after YOUR confidence, but rather because he gives you HIS, to all appearances, and in return, in your naivete on the one hand and blind greed on the other, rush headlong to surrender yours entirely...called it "a strange quirk of human nature".)
I like the show American Greed (it's my guilty pleasure). A good number of the episodes are about Ponzi schemes and some of them involved NFL players (one of them I think included Terrell Davis from UGA). Bottom line is be careful who you trust and if it's too good to be true it is. I hope that athletes are getting this info because too many of them have money trouble and besides spending too much too fast is Ponzi schemes, there was an article on ESPN the magazine about that. On a lighter note, can we call UGA Ponzi U?
We will now!
robdog
Gator Fan
I watch a lot of American Greed. I find myself shocked at the types of things people do and think they can get away with it. Oh well, I guess that is how "above the law" a number of people think they are.
Some of them talked about people who I believe would have lived good lives if they didn't become greedy and end up in jail.
robdog
Gator Fan
Seriously, some of them make a good score, but they ALWAYS want more. And that is when they usually get caught. Oh well, maybe it is an addiction?
