GTP 0.00% 12.0¢ great southern limited

another great southern 10% scam, page-27

  1. zwu
    2,452 Posts.
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    GTP and TIM's MIS model is certainly a "disaster", but I don't understand why we have to by-bass that "dirty" word of "Ponzi".

    As you said that "the accounting was crap (I would say it was fraudulent - Zwu) - much of the profits were recognised in the year the money was raised but it came with a 7 year (cattle) 10 year (trees) and 20 year (horticulture) to manage the operations", the MIS model was never viable and it always used new investors upfront fees to cover operational costs of previous schemes - and eventually collapsed.

    This was why it was not just an ordinary disaster, it was a Ponzi scheme.


 
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