Sou Sou Investment ?

[RedVEVO]

that adds a massive level of flabbergastery to it


yuh have friends and family convincing yuh the thing legit, just because THEY have to make up 5 people to joins so THEY can get THEIR payout

so u happily borrow the money, invest it and promptly lose it

and it wasnt a gamble in your eyes, because your padna or family member stand for it and recommend it and more or less guarantee it (but in small print he tell yuh it non refundable)

People know it's a gamble

People win and lose .

Mostly old people so fixtured with no risk - so be that way

Meanwhile everywhere else people in supermarket, medicines , insurance etc., $$ fleece continues.

BTW NEL loss like $327 Million

https://trinidadexpress.com/business/lo ... fc9fa.html

https://www.guardian.co.tt/business/nel ... c011cd1568

[88sins]

that adds a massive level of flabbergastery to it


yuh have friends and family convincing yuh the thing legit, just because THEY have to make up 5 people to joins so THEY can get THEIR payout

so u happily borrow the money, invest it and promptly lose it

and it wasnt a gamble in your eyes, because your padna or family member stand for it and recommend it and more or less guarantee it (but in small print he tell yuh it non refundable)

that's the devil in the details ppl NOT understanding. In a real true sousou, you pretty much sure & guaranteed to get back what you put in, & only what you put in.
Now, the reason for the scenario I proposed, I was approached yesterday by a female that wanted to borrow money & I know for a fact that she planned to use it get involved in this "sousou" madness. She know I used to lend money from way back when and that I still do on occasion, the only difference these days is that I don't charge interest & I got a lot more discerning about who I go lend to. Anyway, short story shorter, after I tell she I know what she plan to use it for & she admit is that shite she want my money to get involved with, she get blank.

Now, me personally I don't gamble, but I've taken part in some high risk investments over the years, leveraged a lot to get a lot more to invest to make a pile on occasion. & some have had greater risks than others. But the beauty of it was that they were all straight forward, letting you know you could either lose it all or reap the rewards, & the chances of a negative outcome were always to some degree verifiable and calculable. In no instance was there anyone saying "if yuh put een $175 yuh sure to get $5000 but it nonrefundable & yuh takin a chance eh but doh study it cuz $175 is small money if yuh lorse dat yuh eh really lorse nuttn much"

ppl go do what they want with their money. If they choose to make fools of themselves who am I to stop them.
but d second yuh try to involve me & my money in it I could tell yuh all now yuh lookin for and will find a serious problem, so dat eh happnin pallie

[Chimera]

And when people see thing like this it makes them ready to invest

[K74T]

Lmao

[De Dragon]

Lmao

Dummies endorsing fraud.
The problem with this DSS, besides being an obvious fraud, is that it is being portrayed as a us vs them, namely a "poor"man trying to compete with rich banks and financial institutions. I have no problem with anyone trying to better their station in life, but fraud is fraud, no matter the perpetrator.

[Kenjo]

Lmao

Dummies endorsing fraud.
The problem with this DSS, besides being an obvious fraud, is that it is being portrayed as a us vs them, namely a "poor"man trying to compete with rich banks and financial institutions. I have no problem with anyone trying to better their station in life, but fraud is fraud, no matter the perpetrator.

They basically came in to late in the washing money business. The traditional actual sou sou was actually the money you put in is the money you got back out versus this is pure money laundering . All the other big boys already washed money since the 70s and beyond and organized ‘genuine ‘ businesses . These guys just too late in the game and the ranks were closed in on then .

[pugboy]

damn right, after all the fight down, is a fight up scenes now

I bet the banks must have had in house meetings to determine if to respond to all those claims of bias against them poor folks, but they would have been advised not to.

And when people see thing like this it makes them ready to invest Screenshot_20201109-062256_Facebook.jpeg

[daxt0r]

lol daiz like when dem good boy go an rob and kill an buy ting for mamme, when dey ded he was ah good boy, etc.
Apparently to these folks it don't matter if for them to pay their bills or drive Tiida they ent care how much other ppl have to do without, and that's the pure maths of it with a $1=$8 investment.
But then again that is the attitude of all those lazy PNM/DSS cockroaches, rob/kill/tief eat ah food an once dem live good no matter the cost to other hard working citizens. An even if they get lock up is still we tax paying dollars mining dem yet up to now i cya get my tax return 8 months on while all kinda cockroaches getting HDC house, salary grant, etc.

[88sins]

So tell us daxt0r, how do you REALLY feel?

like I said, a fool & his money are son parted.

[VexXx Dogg]

The next trend is the forking of the sou-sou.
People who are losing are staying quiet and then starting their own ponzi-sou to get back their money.

Best o' luck.

[MaxPower]

Trinis never learnt from Organo Gold, Narend and Herbal Life.

[teems1]

Trinis never learnt from Organo Gold, Narend and Herbal Life.

Amway, Avon

[killercow]

A padna come today asking me if he go get tru wit a loan from he bank so he cud join a sou-sou. I tell him yes

[Chimera]

Lol I realize this is like a trini version of the Nigerian prince scam

[teems1]

Lol I realize this is like a trini version of the Nigerian prince scam

It's worse, because no one has ever made any money with the Nigerian price scam.

This one the mark often knows a friend of a friend who got their blessings, or blossomed or whatever the vernacular is because they were there early.

Little do they know they're "investing" into a saturated pyramid and are about to lose everything.

[88sins]

@ killercow, yuh very right to tell him yes. Let the people do what they wish with the money they have in/at hand.
Hearing some chatter in the banking sector about this thing, and it sounding like somebody want to start to freeze some people accounts specifically accounts that generally don't see much traffic or volume for years that are held by people with dss accounts that suddenly have a lot of money passing through on a regular basis lately, the idea being that these people may be involved in low level money laundering. I don't believe that they can legally do that without receiving specific instructions to do so tho, but who knows if the cb & ttps have discussed this with them already or not.

Lewwe see how long this go run before people wise up.

[Redman]

I can’t figure out how this is a laundering operation

The money remains outside the system in cash...and the returns have to be funded.

This is low level fraud.

[De Dragon]

I can’t figure out how this is a laundering operation

The money remains outside the system in cash...and the returns have to be funded.

This is low level fraud.

Fraud is fraud.

[88sins]

I can’t figure out how this is a laundering operation

The money remains outside the system in cash...and the returns have to be funded.

This is low level fraud.

Just a "hypothetical" scenario here.
You're a not-so legal-pharmaceutical distributor with a 55-60 million in cash just sitting in houses across the country at risk of being found, money that you can't deposit because even tho you have a several businesses their revenue generating capabilities are so limited (because most to businesses slowed down drastically due to covid) that there is no way to pass that volume of money thru those accounts, or at the very least you can't pass it without several people knowing about it, & either route you take you at risk of either being discovered, losing it all, or both, and there is nobody on the island that can wash that amount of money for you without raising a red flag.

So you start a "sousou" that paying out at 8:1, and have several of them in a wide network. Some people that join the sousou you pay (lets say half) , and the rest of them you don't.
To those that you do pay out, you use your dirty money to pay them, and as a condition of the "sousou" the payee have to "gift" half back to you. So a person give you $100, you give them $800 & they give you back $400, so you temporarily lose $300 (considering it'd cost between 10-20% if you were to get it done by someone on the outside in the developed world, the "sousou" rate kinda steep but you eh taking all that loss).
Then for those you don't pay, you tell them the "sousou" buss & forget them, & many will swallow the loss of their money because you tell them it non-refundable up front. Now you have receipts showing that a lot people gave you a lot of money, and you mix in the rest of your dirty cash with this.
So (provided you can get enough of the population to get involved of course) between the "re-gifts" and the people money you take, you just washed all you money over a few months with minimal losses & nothing really pointing directly at you.



seeing it now?

[ruskie]

This!!!

I can’t figure out how this is a laundering operation

The money remains outside the system in cash...and the returns have to be funded.

This is low level fraud.

Just a "hypothetical" scenario here.
You're a not-so legal-pharmaceutical distributor with a 55-60 million in cash just sitting in houses across the country at risk of being found, money that you can't deposit because even tho you have a several businesses their revenue generating capabilities are so limited (because most to businesses slowed down drastically due to covid) that there is no way to pass that volume of money thru those accounts, or at the very least you can't pass it without several people knowing about it, & either route you take you at risk of either being discovered, losing it all, or both, and there is nobody on the island that can wash that amount of money for you without raising a red flag.

So you start a "sousou" that paying out at 8:1, and have several of them in a wide network. Some people that join the sousou you pay (lets say half) , and the rest of them you don't.
To those that you do pay out, you use your dirty money to pay them, and as a condition of the "sousou" the payee have to "gift" half back to you. So a person give you $100, you give them $800 & they give you back $400, so you temporarily lose $300 (considering it'd cost between 10-20% if you were to get it done by someone on the outside in the developed world, the "sousou" rate kinda steep but you eh taking all that loss).
Then for those you don't pay, you tell them the "sousou" buss & forget them, & many will swallow the loss of their money because you tell them it non-refundable up front. Now you have receipts showing that a lot people gave you a lot of money, and you mix in the rest of your dirty cash with this.
So (provided you can get enough of the population to get involved of course) between the "re-gifts" and the people money you take, you just washed all you money over a few months with minimal losses & nothing really pointing directly at you.



seeing it now?

[Redman]

I can’t figure out how this is a laundering operation

The money remains outside the system in cash...and the returns have to be funded.

This is low level fraud.

Just a "hypothetical" scenario here.
You're a not-so legal-pharmaceutical distributor with a 55-60 million in cash just sitting in houses across the country at risk of being found, money that you can't deposit because even tho you have a several businesses their revenue generating capabilities are so limited (because most to businesses slowed down drastically due to covid) that there is no way to pass that volume of money thru those accounts, or at the very least you can't pass it without several people knowing about it, & either route you take you at risk of either being discovered, losing it all, or both, and there is nobody on the island that can wash that amount of money for you without raising a red flag.

So you start a "sousou" that paying out at 8:1, and have several of them in a wide network. Some people that join the sousou you pay (lets say half) , and the rest of them you don't.
To those that you do pay out, you use your dirty money to pay them, and as a condition of the "sousou" the payee have to "gift" half back to you. So a person give you $100, you give them $800 & they give you back $400, so you temporarily lose $300 (considering it'd cost between 10-20% if you were to get it done by someone on the outside in the developed world, the "sousou" rate kinda steep but you eh taking all that loss).
Then for those you don't pay, you tell them the "sousou" buss & forget them, & many will swallow the loss of their money because you tell them it non-refundable up front. Now you have receipts showing that a lot people gave you a lot of money, and you mix in the rest of your dirty cash with this.
So (provided you can get enough of the population to get involved of course) between the "re-gifts" and the people money you take, you just washed all you money over a few months with minimal losses & nothing really pointing directly at you.



seeing it now?

88 Thats the point- what you describe, is my understanding as well... isnt going to get the 60M into the system.

All you have after that is cash(MUCH less cash than you started out with) and a stack of small money receipts that are of questionable value,

[RedVEVO]

I can’t figure out how this is a laundering operation

The money remains outside the system in cash...and the returns have to be funded.

This is low level fraud.

Fraud is fraud.

How so ?

Police have no evidence of fraud

Sou Sou pooling money like a Bank

[Blaze d Chalice]

Trinis too greedy overall.

But I think it would be very fair if all the people who taking David M recommendation and joining, should also go back to him for compensation if they come out tail between leg and even less empty handed.

[88sins]

Trinis too greedy overall.

But I think it would be very fair if all the people who taking David M recommendation and joining, should also go back to him for compensation if they come out tail between leg and even less empty handed.

compensation for what? being dotish? they were already told that their "gift" was non-refundable. so they hadda compensate & console themselves with themselves. When you invest in stocks you picked yourself out of tanty church hat & they crash & yuh lose yuh money you feel you could go by any broker & ask for "compensation"? So how is them asking for compensation fair?
Besides, it makes zero sense to continuously reward idiots for being idiots by saving them, they will never learn anything more than that they could do sh!t & somebody go rescue them, & very few if any of them will ever think and learn to stop doing the sh!t that got them in problems to begin with.

yuh try, yuh fail, life goes on.

[toyolink]

This situation people have found themselves in, is quite unfortunate but seems clear cut if the business activity is determined to be illegal and not in conformity with the laws and regulations of T&T.
The possibility of the venture continuing and or people getting returns or refunds will depend on a determination of the legality of the operation.
The principle of 'caveat emptor' or buyer beware seems to apply.
One may even find that the proceeds of crime act may very well have some relevance here.
A granting of some form of amnesty by the state may very well be the only cure, but this may mean future cash flows wont be on the cards and not all contributors would recoup.

[MaxPower]

Borders open and ppl just disappear.

Entering 2021 with a bang.

[Ted_v2]

i saw a youthman that said he got like just under 200k, buy a piece of land and thinggggg

hear the jones, it right next door to his family down south. O_O inherited much? i waiting to hear what taking place.

[Ben_spanna]

Fbook is like a stinking sou sou explosion these days, every other post in groups is some other dunce with a sou sou trying to scam people...

[RedVEVO]

i saw a youthman that said he got like just under 200k, buy a piece of land and thinggggg

hear the jones, it right next door to his family down south. O_O inherited much? i waiting to hear what taking place.

So you jello green ?

Or you happy he succeed

[teems1]

Banks are required to have a certain % at CBTT.

Also loans are insured.

These pyramid schemes depend on more suckers joining and eventually collapses.

I can’t figure out how this is a laundering operation

The money remains outside the system in cash...and the returns have to be funded.

This is low level fraud.

Fraud is fraud.

How so ?

Police have no evidence of fraud

Sou Sou pooling money like a Bank