APOLOGISTS INTERRUPTED: Two Court Rulings Show That HYIP Operators, Players Setting Stage For Painful Downfalls, Foreclosures; Woman Loses Home While New Mom Loses Everything
Morgan met Rivas in 2006 while she was employed at a real estate company, according to court filings.
“[Rivas] invited [Morgan] and her husband to take his course on trading in the foreign currency exchange market,” the judge wrote. “Some time thereafter, [Rivas] began an intimate relationship with [Morgan] and, at some point in 2007, she divorced her husband.”
In the end, Cook issued judgments against Morgan — who became pregnant during her affair with Rivas — because the money she received was polluted by the Forex Project Ponzi scheme.
“[T]he court will enter a judgment in favor of the trustee and against the defendant that avoids the transfers that have been identified herein as being avoidable under§ 548 or § 549 of the Bankruptcy Code, and that awards to the trustee a recovery from the defendant of the following amounts: (1) $235,100.00, representing the avoided prepetition cash transfers made by the debtor to the defendant from the period September 26, 2007, through May 12, 2008, (2) $82,266.83, representing the value of a 2008 Volkswagen Toureg automobile that was purchased by the debtor and transferred to the defendant, (3) $11,000.00, representing the value of the engagement ring purchased by the debtor and transferred to the defendant, (4) $9,821.50, representing the value of the furniture purchased by the debtor or with the debtor’s funds and transferred to the defendant, and (5) $225,000.00, representing the post-petition transfer made by the debtor to the defendant.”
Both the Rivas/Morgan case and the George Hudgins case, which resulted in the order for the receiver to sell Wendy Silette’s home despite her lack of knowledge about the Ponzi scheme, demonstrate unquestionably that Ponzi = Pain.
Regardless, some purveyors of Ponzi misery continue to pitch obvious scams on an impossible theory they are causing no harm, are pursuing the highest Constitutional traditions of freedom and that only a fool would see things differently.
At the end of the day — under their delusional theory — only the criminals or players smart enough to outwit them in their money “games” will be left with any cash. The cops and the journalists who write about the schemes will be silenced — along with all of the other peoples of the world who awakened one morning to find their freedom stripped away by the very forum posters who purported to be freedom’s great champions.
They are criminals — and they are among the most dangerous people in the world because they are licensing themselves to undermine economies in pursuit of both money and a thrill.
Read a story on Chattanoogan.com about Rivas’ sentencing. ### PP Blog ###
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