IKN

a plague o both your houses

Catching up with Lawrence Lepard’s scamming of his own client base via Rise Gold (RISE.cse)

You were warned. By me. About him.

This scam is as old as the hills: The well-connected and apparently successful stock broker builds up a book of clients over the years. The broker gives legit and sensible advice to them all, 99% of the time, always listening carefully to the client’s needs and preferences then building a portfolio that suits their tastes. All clients will have different recos and thoughts on potential trades from Larry Lepard, but somehow and for some reason they all own some shares in Rise Gold because, for reasons that are either 1) sheer coincidence or 2) blatant rip-off of own client base, Lepard at some point reco’d RISE.cse to every single one of them. They all take a modest loss on Rise Gold while the rest of their portfolios perform adequately, as a result, nobody complains too much. And Larry walks off with their cash, laughing at the idiots he has on his leash.

2 Comments

    And if Larry’s having a Twitter tantrum today and telling everyone to “GFY” in that nice way of his, it’s only his self-entitlement on show. These people don’t just want all your money, they want your approval and applause, too. If they don’t get it, my how they stomp their feet!

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