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Sou Sou Investment ?

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88sins
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Re: Sou Sou Investment ?

Postby 88sins » November 9th, 2020, 7:49 pm

@ 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.

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Re: Sou Sou Investment ?

Postby Redman » November 10th, 2020, 6:48 am

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.

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Re: Sou Sou Investment ?

Postby De Dragon » November 10th, 2020, 7:29 am

Redman wrote: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.

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88sins
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Re: Sou Sou Investment ?

Postby 88sins » November 10th, 2020, 9:11 am

Redman wrote: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?

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Re: Sou Sou Investment ?

Postby ruskie » November 10th, 2020, 10:06 am

This!!!
88sins wrote:
Redman wrote: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
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Re: Sou Sou Investment ?

Postby Redman » November 10th, 2020, 11:19 am

88sins wrote:
Redman wrote: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,

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Re: Sou Sou Investment ?

Postby RedVEVO » November 10th, 2020, 1:58 pm

De Dragon wrote:
Redman wrote: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 :D

Sou Sou pooling money like a Bank :D

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Blaze d Chalice
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Re: Sou Sou Investment ?

Postby Blaze d Chalice » November 10th, 2020, 2:06 pm

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.

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88sins
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Re: Sou Sou Investment ?

Postby 88sins » November 10th, 2020, 3:09 pm

Blaze d Chalice wrote: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.

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Re: Sou Sou Investment ?

Postby toyolink » November 10th, 2020, 3:39 pm

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.

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Re: Sou Sou Investment ?

Postby MaxPower » November 10th, 2020, 3:57 pm

Borders open and ppl just disappear.

Entering 2021 with a bang.

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Re: Sou Sou Investment ?

Postby Ted_v2 » November 12th, 2020, 6:28 am

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.

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Re: Sou Sou Investment ?

Postby Ben_spanna » November 12th, 2020, 7:38 am

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...

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Re: Sou Sou Investment ?

Postby RedVEVO » November 12th, 2020, 2:32 pm

Ted_v2 wrote: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 :D ?

Or you happy he succeed :wink:

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teems1
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Re: Sou Sou Investment ?

Postby teems1 » November 12th, 2020, 2:53 pm

Banks are required to have a certain % at CBTT.

Also loans are insured.

These pyramid schemes depend on more suckers joining and eventually collapses.
RedVEVO wrote:
De Dragon wrote:
Redman wrote: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 :D

Sou Sou pooling money like a Bank :D

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Re: Sou Sou Investment ?

Postby RedVEVO » November 12th, 2020, 2:58 pm

^^

“We have not invested in a scheme. This is a sou-sou. If they are encouraging us not to invest in a scheme, I for one will not invest in a scheme.”


https://newsday.co.tt/2020/11/12/dss-in ... y-sou-sou/

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Re: Sou Sou Investment ?

Postby RedVEVO » November 12th, 2020, 2:59 pm

teems1 wrote:Banks are required to have a certain % at CBTT.

Also loans are insured.

These pyramid schemes depend on more suckers joining and eventually collapses.
RedVEVO wrote:
De Dragon wrote:
Redman wrote: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 :D

Sou Sou pooling money like a Bank :D


Banks are like an XT computer now :lol:

Is it a crime to pool your money and get a loan ?

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teems1
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Re: Sou Sou Investment ?

Postby teems1 » November 12th, 2020, 3:41 pm

A loan you pay back the principal plus interest.

These pyramid schemes give huge returns on an "investment".

It's not even comparing apples to oranges. It's apples to rock.
RedVEVO wrote:
teems1 wrote:Banks are required to have a certain % at CBTT.

Also loans are insured.

These pyramid schemes depend on more suckers joining and eventually collapses.
RedVEVO wrote:
De Dragon wrote:
Redman wrote: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 :D

Sou Sou pooling money like a Bank :D


Banks are like an XT computer now

Is it a crime to pool your money and get a loan ?

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DTAC
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Re: Sou Sou Investment ?

Postby DTAC » November 12th, 2020, 3:55 pm

Don't any of these DSS fools realise that the money the police seize doesn't even cover the x8 return those 18,000 member expecting?

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Re: Sou Sou Investment ?

Postby RedVEVO » November 12th, 2020, 4:33 pm

" The Prime Minister, as head of the National Security Council, later labelled DSS a cancer, one that needed the intervention of police officers from Barbados and the UK. "

When will PEOPLE be arrested ?

No ? Is this a FREE loan :D

Then give the PEOPLE back their $$$$

https://newsday.co.tt/2020/11/08/protes ... rini-tuner

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Re: Sou Sou Investment ?

Postby Ted_v2 » November 12th, 2020, 8:57 pm

RedVEVO wrote:
Ted_v2 wrote: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 :D ?

Or you happy he succeed :wink:


i sleeping comfortable tonight knowing i eh scam anyone and free to walk anywhere i choose without expecting a blade or a shot ringing off. i cant say the same for some of these characters.

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Re: Sou Sou Investment ?

Postby RedVEVO » November 12th, 2020, 9:54 pm

Ted_v2 wrote:
RedVEVO wrote:
Ted_v2 wrote: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 :D ?

Or you happy he succeed :wink:


i sleeping comfortable tonight knowing i eh scam anyone and free to walk anywhere i choose without expecting a blade or a shot ringing off. i cant say the same for some of these characters.


These characters like WHO ? Gov't ? TTPS ? Financial Freedom haters ?

And If there is a chance you will get shot maybe you should upgrade your room and board :D

Hyatt empty tonight :lol:

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Re: Sou Sou Investment ?

Postby RedVEVO » November 13th, 2020, 4:26 am

^^

" .. Asked about this, Brooks said: “Why should they take up collection? We are investing and we are getting returns.."


... " Brooks said, “We are not prepared to lose our money to the Government of TT. If something happens and it crash, we would have accepted that, because we know it is a risk.

"But for the security minister to come and just seize our money, and blaming it on Kerron when they are fully aware that we put our money there, the investors think it is not fair, it is not right.... "

https://newsday.co.tt/2020/11/12/dss-su ... vestments/

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shake d livin wake d dead
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Re: Sou Sou Investment ?

Postby shake d livin wake d dead » November 13th, 2020, 5:16 am

Ah going and make ah troll here

NIS is the biggest f%=$'*^ ponzi/pyramid scheme and nobody not studying that sheit. I sure it might not be around when I reach 60..

Ah gone again

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Re: Sou Sou Investment ?

Postby pugboy » November 13th, 2020, 6:01 am

thats a fact bro,
multiple actuarial research reviews have stated it will run out of cash soon
why yuh think impsbert say the retirement age need to increase.

the old age pension is sucking the fund dry


shake d livin wake d dead wrote:Ah going and make ah troll here

NIS is the biggest f%=$'*^ ponzi/pyramid scheme and nobody not studying that sheit. I sure it might not be around when I reach 60..

Ah gone again

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88sins
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Re: Sou Sou Investment ?

Postby 88sins » November 13th, 2020, 7:37 am

shake d livin wake d dead wrote:Ah going and make ah troll here

NIS is the biggest f%=$'*^ ponzi/pyramid scheme and nobody not studying that sheit. I sure it might not be around when I reach 60..

Ah gone again

It go be around, but the retirement age might be 70 by the then :lol:

NIS isn't really a ponzi scheme tho. with NIS if you only qualify for a lump sum settlement you get back what you put in, and only what you put in.
For those that qualify for a pension, you get a set amount every month for the rest of your life till you die. Now, depending on how long you live you might not recover all you put in, but if you live long enough you could get back plenty more than you put in, with the extras you get coming from the funds that would have been payable to those that died before collecting all they were due. So in a sense it's a gamble, but only in regards to how much you get back in comparison to what you put in.


as opposed to this madness, where you eh sure to get back anything at all

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hover11
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Re: Sou Sou Investment ?

Postby hover11 » November 13th, 2020, 7:53 am

No sir just to correct you , if you qualify for a retirement lumpsum you get back THREE TIMES what you put in, the NIB is spending much more than what they are earning , it is a ponzi scheme because it depends on others to survive with no real product...the only thing with this ponzi scheme is it is backed by the government thus whenever it reaches its point of bankruptcy the government can simply offer a bailout such as the famous CLICO
88sins wrote:
shake d livin wake d dead wrote:Ah going and make ah troll here

NIS is the biggest f%=$'*^ ponzi/pyramid scheme and nobody not studying that sheit. I sure it might not be around when I reach 60..

Ah gone again

It go be around, but the retirement age might be 70 by the then

NIS isn't really a ponzi scheme tho. with NIS if you only qualify for a lump sum settlement you get back what you put in, and only what you put in.
For those that qualify for a pension, you get a set amount every month for the rest of your life till you die. Now, depending on how long you live you might not recover all you put in, but if you live long enough you could get back plenty more than you put in, with the extras you get coming from the funds that would have been payable to those that died before collecting all they were due. So in a sense it's a gamble, but only in regards to how much you get back in comparison to what you put in.


as opposed to this madness, where you eh sure to get back anything at all

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shake d livin wake d dead
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Re: Sou Sou Investment ?

Postby shake d livin wake d dead » November 13th, 2020, 8:18 am

My NIS payment hovers around 900+ every month. I sure if I save that on my own Id feel more satisfied.

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Dizzy28
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Re: Sou Sou Investment ?

Postby Dizzy28 » November 13th, 2020, 8:26 am

shake d livin wake d dead wrote:My NIS payment hovers around 900+ every month. I sure if I save that on my own Id feel more satisfied.


The highest rate payable is 690.5 per month based on a 5 week month at the highest income bracket though

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Re: Sou Sou Investment ?

Postby Skanky » November 13th, 2020, 8:28 am

Life is a pyramid scheme.

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