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MrPB

IOM company defrauds man

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5 minutes ago, MrPB said:

I agree with you Neil Down was trying to claim it was fraud (largely just to create a pointless argument) but as I said if it had been fraud any AML check would likely have said it was fraud. So AML checks either weren’t done, or it wasn’t fraud. I’d argue like you and GKW that it isn’t really fraud it was market manipulation with the regulators being pretty much aware of what was going on as he’d told them everyone else was doing it and they never took any action. Looks like nobody took any action here either when he was then fleeced for £11m. 

"Manipulation of the markets to his own benefit" just because he did it better does not make it any less fraudulent now does it

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2 minutes ago, MrPB said:

He’s not really a fraudster though is he as a few have pointed out above. If he was a fraudster surely the AML would indicate that the funds were the proceeds of fraud. 

Feel free at any time to look up the narrative of the word "Fraud"

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Just now, Neil Down said:

Feel free at any time to look up the narrative of the word "Fraud"

Even the newspaper uses the word deemed fraudulent not “fraud” as it’s a case of market abuse.

I hope you don’t work in compliance. 

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2 minutes ago, MrPB said:

Even the newspaper uses the word deemed fraudulent not “fraud” as it’s a case of market abuse.

I hope you don’t work in compliance. 

As I suggested, look up the word "Fraud"

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Just now, Neil Down said:

As I suggested, look up the word "Fraud"

You seem to like making a lot of suggestions but few of them seem to have any real substance other than being a convenient way of starting arguments with other posters. 

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1 minute ago, MrPB said:

You seem to like making a lot of suggestions but few of them seem to have any real substance other than being a convenient way of starting arguments with other posters. 

You are the only person I am having a dialogue with. Have you looked up what "Fraud" is yet. Newspapers will use any words they think will sell their rags, they've never been a big fan of accuracy in their reporting. If you work in finance, run this story past your compliance team and see what they make of it

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12 minutes ago, Neil Down said:

"Manipulation of the markets to his own benefit" just because he did it better does not make it any less fraudulent now does it

i was thinking that,  if you outsmart the usual accepted tics they don't like it and get you prosecuted to rid themselves of the competition

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1 hour ago, Max Power said:

Unfortunately, I can't think of anything on the Isle of Man that would be a sound investment? We have had the film industry, space industry, tidal power amongst other failures. The Government will be searching for SPCo investors shortly but it seems that they are the kiss of death to anything they get involved in. We also seem to attract a lot of chancers who get received with open arms and much trumpeting of their crackpot schemes from our great and good, not a wise head in there I'm afraid!

It’s a great lesson for anyone. Invest in the IOM as we’re so crooked that even off-island fraudsters get burned! 

Edited by Dave Angel
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You only here about the dodgy stuff.  There are plenty of very successful investments etc over here.  No one would come and set up here if it was all dodgy. 

Unless of course you're the government, then any investment into magic beans or unicorn tears that you make will unsurprisingly vanish without trace. 

But don't let that upset your finance industry bashing.... 

If it wasn't for the finance industry the only jobs would be in fishing (there are no fish) or farming

 

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31 minutes ago, Neil Down said:

If you work in finance, run this story past your compliance team and see what they make of it

Most people who work in compliance wouldn’t know what a fraud was if it hit them in the face. 

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4 hours ago, 2112 said:

Manxberry, don’t you think with this new £25m+ a year splurge to satisfy the Currant Bun report criteria, that many more Manx scams and con artist’ business types wishing to get a stake in the yearly fund. Loved up politicos will be too interested in getting publicity and votes without the word SCAM registering. I would advise that our police invest heavily in financial crime - a point for Derek Flint?  As for reputation, especially for the island, Starship Enterprise only interested in bums on seats or cash received, it won’t matter if a crime or scam has taken place. 
I would argue that the island has a high proportion of elderly residents, just ripe for ‘ripping off’, and very little out authorities will do or want to do,
 

The problem is the financial crime unit needs to be the size of the main force. There could be many more torches shone into dark corners but because of the relatively small scale, things have to be assessed and prioritised accordingly.

not an easy gig. Couple of good blokes at the helm though.

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16 minutes ago, Derek Flint said:

The problem is the financial crime unit needs to be the size of the main force. There could be many more torches shone into dark corners but because of the relatively small scale, things have to be assessed and prioritised accordingly.

not an easy gig. Couple of good blokes at the helm though.

tynwald only hand out torch batteries if they know where you want to point the torch.

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Which Manx company did the defrauding and who are it's directors?

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1 hour ago, MrPB said:

Most people who work in compliance wouldn’t know what a fraud was if it hit them in the face. 

You clearly have no idea what you are talking about.

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