Beats me how I missed this one until now:
http://seattletimes.nwsource.com/html/b ... ian10.html
bottom line for promoter: 18 years.
Mortgage-backed Ponzi
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Mortgage-backed Ponzi
Goodness is about what you do. Not what you pray to. T. Pratchett
Always be a moving target. L.M. Bujold
Always be a moving target. L.M. Bujold
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Re: Mortgage-backed Ponzi
Drive by spam in three, two...
(edit; OK, this post looks a bit weird with the spampost gone)
(edit; OK, this post looks a bit weird with the spampost gone)
Last edited by Thule on Tue Mar 27, 2012 6:33 am, edited 1 time in total.
Survivor of the Dark Agenda Whistleblower Award, August 2012.
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Re: Mortgage-backed Ponzi
We've seen it before, we'll see it again. Berg is just another idiot fraudster who couldn't keep his fingers out of the cookie jar. He was unsatisfied with the golden eggs the goose laid, so he killed the goose too. And with it he stole the dreams and life's savings of innocent people.
What really rubs me the wrong way is Berg's sentencing statement.
What really rubs me the wrong way is Berg's sentencing statement.
As if that makes a difference to the financially devastated victims...Unremorseful scum wrote:Berg, 49, addressed the courtroom audience of investors and his family in a five-minute monologue that was both contrite and defensive, occasionally smiling and occasionally choking up as he acknowledged "the horrific mess that I've made."
[snip]
"Did I run a 10-year Ponzi scheme and defraud you for 10 years, or did I run a legitimate business and then defraud you?" he asked, declaring that it was the latter.
"Never try to teach a pig to sing. It wastes your time and annoys the pig." - Robert Heinlein