janice shell Member Level Tuesday, 07/05/16 06:39:13 PM
Re: CarloRoberts post# 110005
Post #
110006
Is a philanthropic scam a realistic theory?
And have you run into any companies playing this game.
Oh yes. I've come across several. But the one I remember most clearly was Swordfish Financial. The ticker at that time was SWRF (now SoOum Corp; SOUM). It was run by crazy Mike Alexander, an alumnus of the CSHD scam.
The premise of the scam had something to do with a foundation dedicated to providing clean water where it was needed: apparently pretty much identical to what you describe. If it's the same outfit, people should run for the exits.
The foundation was to be funded by "gifts" made to SWRF by people with assets that were difficult for them to monetize. It was beyond ridiculous. The first "gift" announced was--get this--31 million KILOS of gold residing in the vault of that old favorite, the Swiss bank. Then he claimed possession of more gold and other really valuable stuff once owned by Sukarno, the one-time president (and dictator) of Indonesia. To document ownership, Alexander pulled a bunch of documents, possibly fake, off the web.
It was endless fun.
