Mormons Become Victims in $50 Million Scam to Sell Gold Bullion

[Turbineguy]

http://www.bloomberg.com/apps/news?pid=20601109&sid=an7Pm3hkmauw

By James Sterngold

Sept. 1 (Bloomberg) -- Henry Jones delivered the good news in a conference call with Tri Energy Inc.’s investors: The gold deal the company had been working on for years was about to pay off.

Jones, 55, a record producer in Marina del Rey, California, and his two partners had raised more than $50 million from 735 investors, which they said they were using to broker the sale to Arab buyers of 20,000 tons of gold owned by a group of Israelis. They promised to triple investors’ money -- if only Tri Energy could overcome some last-minute glitches.

All the company needed to close the deal, Jones said on the Dec. 20, 2004, conference call, taped by one of the participants, was a “safe-passage letter” that would cost $450,000. A few days later, on another call, he said Tri Energy had to come up with $100,000 to open a “commission account.” Then, on Jan. 15, 2005, a new request: The bank handling the deal wanted $125,000 to conduct an audit.



Can I have a little music with that? http://www.youtube.com/watch?v=51Wg6k9cWhM

[sharp_stick]

1. Ah shucks

I find it hard to feel sorry for people that fall for these things. Anytime someone tells me their going to "triple my investement" I hang up the phone.

When they start to ask for a little bit more and then a little bit more, just to close the deal a normal person, not a greedy idiot, would probably start to figure out they're being had. The greedy idiot on the other hand figures he's in so deep it can't hurt to go a little deeper.

[T Wolf]

2. Gee, that's too bad. THey may have to hock the Salt Palace. nt

[phantom power]

3. There goes their 2010 budget for magic underoos.

[gopiscrap]

4. God got 'em for screwing over the

GLBT folks in California! KARMA!!!!!!

[grantcart]

5. "You can't cheat an honest man"

[YOY]

6. Hardcore Mormons? Gullible??? You don't say!!!

We're talking the descendants of the most gullible people on the planet. Some things are genetic.

Some exceptions apply...but not from the most fervent of beleivers.

[8 track mind]

9. You know I hate to keep bringing this up

But that south park episode about Mormons is so freaking true:

"there was a man named Joesph smith, dum dee dum dum dum"

if you haven't seen it I suggest doing a web search for it. It explains it all quite nicely !

[YOY]

11. Just remember it's not universal.

But really does seem to be universal among the most fervent of believers.

[grantcart]

7. OK this is beyond funny --- reading the article - is their any clue that might have given it away?

Jones, a native of Nigeria

[rocktivity]

8. I would think that 20,000 tons of gold could not be purchased by a private party

20,000 tons of gold was more than twice the total U.S. bullion reserve, the largest in the world...

That answers that question. This group of Israelis sound more like a group of Nigerians.

Jones, 55, a record producer in Marina del Rey, California...(and)...a native of Nigeria...

Well, now I feel foolish--it was only ONE Nigerian...

:eyes:
rocktivity

[8 track mind]

10. It begs the question

Why do people keep falling for this shit.

[MellowOne]

12. greed

.

[CanonRay]

13. Greedy bastards

Money grubbing Mormons. One of their own just scammed them in Colorado too.