CT Blue

I have to admit that I can’t help but think that the folks who fall for this sort of stuff deserve what they get:

While running Money Magnet Platinum Membership Initiative LLC, [Lakenya] Hopkins promised astronomical — and unrealistic — rates of returns on investments…. Hopkins claimed to investors she would get them \(8,000 in monthly returns for every \)1,000 they invested by pooling the money and putting it into a hedge fund that guaranteed a 3-5% daily returns, the feds alleged.

A 3-5% daily return amounts to, let see, a 1095% to 1825% (not taking compounding into account) return on a yearly basis, which seems sort of, shall we say, unrealistic. I’d like to think these suckers all also fell for the grifter-president, as this will reduce their ability to fall for his latest grift and line his pockets.