So it has happened again. Investors have once again fallen prey to an alleged fraudulent scheme that promised unusually high returns. One would have thought that the offer of a 15 per cent return quarterly would be sufficient to raise the alarm bells and send many running for cover.
Instead, it was reported recently that investors have possibly lost up to a mind-boggling $1 billion in a scheme involving nickel deals run by Envy Asset Management and Envy Global Trading. What is even more astounding is that the victims are not just the moms and pops.
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