Nov

30

Scam Artist

Posted In: Investing Tips

“John Taylor you are a Scam Artist!!”  Those words were spoken to me by an ex friend.

So how did all this come about? Well some years ago I was handed the reins of a private company, we will call it “M5”, with the intention that it eventually go public. After all I was an experienced, educated, self titled genius. Now I have survived jungle treks, sailed the seven seas, even experienced the gourmet taste of stewed “Dog” in Asia – but nothing prepared me for the experience I was to embark on.

First step is to raise a little seed money from my close friends and business associates. Hey John, I hear you are doing a deal, here is some money. Son, is this a good deal? Darling I love you, how about making me some money? So the seed money is collected, a project is started. Lawyers, Market Makers Accountants and a host of others are hired to perform their magic. I am assured by everyone, I retained, it will take 6-8 months, to list.

Two years later, hundreds of thousands of dollars spent, the overhead continues and the bank account is dry. My advisors tell me only 4-5 weeks left and M5 will be listed. So with much reluctance I raise more seed monies. “John this is my line of credit”! “John this my retirement fund”! John this is all I have”!

Three months later still not listed, Murphy’s law the phone rings “you scammed me!”, you “knew it would not go public!”, “you are a liar!”, “my lawyer told me you were a bad person”!!

How does one explain the following to your investors?
Financial crisis!
My partners went bankrupt!
The lawyer retired;

You suddenly hear from those that gave their precious few remaining dollars to you for M5, so it would list. They start calling you, emailing you.  Where’s my money? Where are my shares?  Why isn’t M5 public?  And finally you Scammed Me!!

What do I as a promoter do? They won’t accept any explanation! – John Taylor pays some monies back, retains a new lawyer, raises more seed and continues the quest of a listing.

Or did John Taylor move to China, buy a Junk, a blender, and a case of Tequila?

To be continued!!

JT was raised and educated in some the finest educational institutions in the world. He settled in Hong Kong a number of years ago

Article Source: Scam Artist