Buyer Beware, from Craig Mee

December 16, 2013 |

 This article illustrates a classic case of buyer beware. If it sounds too good to be true, it probably is, and why there will always be enough for everyone to go round in the markets. Fortunately and unfortunately. Many can't resist a good gamble, illustrated so well here by a punters club on the nags with no checks or balances and up to 200 million disappearing.

"Investors count the cost as Bill Vlahos' racing bets club collapses":

"If anyone is promoting a 20-25% return on your punting, then it should send `red flags' immediately,'' V'Landys said."

"…Earlier this year, Mr Vlahos told his members he had a betting bank of more than $90 million. Fraud squad detectives are now trying to figure out how much money is gone"


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