Journal Inner 2 Dec. Edition 2019 EDITED
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An Intro to UDIS & the MMM Cooperation
An intro to UDIS & the MMM Cooperation Jami Hubbard Solli 4-5 December 2019 #financialinclusion Unlicensed Digital Investment Schemes (UDIS) 1) What are they? 2) Consequences? 3) Why do they thrive? (Who invests in these things anyway?) 4a) What can be done to monitor social networks, identify the schemes and shut them down prior to mass losses? Any good examples from other countries? 4b) Corollary: changing the narrative about UDIS (Or, actually having a counter narrative). 5) An example of a multinational UDIS: the MMM scheme *Followed by* Tracking the flow of funds MMM Scheme = Assaf K’s demo What is an UDIS (aka digital ponzi)? Working Group Definition: Digitally enabled financial fraud whereby consumers are promised unnaturally high returns to place their funds with a proffered investment opportunity. However, and usually unbeknownst to the targeted investor/consumer, there isn’t any underlying productive asset, nor a company from which profits can be generated. Therefore, anticipated ‘returns’ on one’s investment actually derive from future investors’ capital inputs into the scheme. The promoters of the schemes use new, incoming funds to pay existing ‘investors’ until there are no more incoming funds and the scheme collapses. The aftermath of an UDIS Adverse physical/mental health consequences can be dire for individuals and families: Victims experience stress related illnesses (hypertension, heart attacks and diabetes). Victims and spouses may even divorce: friends & family no longer speak to one another. Children are removed from school (no school fees) & in some cases kids are sent to beg or worse on the street. Mental health deteriorates & victims have killed themselves. -
The Spectacular Rise and Disastrous Collapse of a Financial Scheme: the Case of Albania
Open Journal of Business and Management, 2017, 5, 194-207 http://www.scirp.org/journal/ojbm ISSN Online: 2329-3292 ISSN Print: 2329-3284 The Spectacular Rise and Disastrous Collapse of a Financial Scheme: The Case of Albania Edlira Thanasi, Joseph Riotto New Jersey City University, Jersey City, USA How to cite this paper: Thanasi, E. and Abstract Riotto, J. (2017) The Spectacular Rise and Disastrous Collapse of a Financial Scheme: This study discusses the similarities and differences between Ponzi and Pyramid The Case of Albania. Open Journal of schemes and the unparalleled example of Albania. In particular, this document treats Business and Management, 5, 194-207. the creation and collapse of a financial scheme in Albania, which had some characte- http://dx.doi.org/10.4236/ojbm.2017.51018 ristics of both Ponzi and Pyramid schemes, based on their definitions and examples. Received: September 21, 2016 The study points out the factors that caused the creation of some financial interme- Accepted: January 21, 2017 diary entities in Albania, which resulted to be a massive fraudulent scheme; how they Published: January 24, 2017 were developed; and the consequences for the country in terms of economic, political Copyright © 2017 by authors and and social environment after they collapsed. The Case of Albania is an unprecedent- Scientific Research Publishing Inc. ed case of a fraudulent financial scheme due to the magnitude of the population in- This work is licensed under the Creative volved (57%) relative to the country’s economic size (liabilities of the scheme reached Commons Attribution International License (CC BY 4.0). -
Making Sense of a Scam: Mmm Mutual Fund Participants In
MAKING SENSE OF A SCAM: MMM MUTUAL FUND PARTICIPANTS IN KAGISO NEGOTIATE DISSENTING MAINSTREAM NEWS COVERAGE ON SOCIAL MEDIA A thesis submitted in partial fulfilment of the requirements for the degree of Master of Arts of Rhodes University by BELLA MAKHULU BOQO November 2019 SUPERVISOR: PROFESSOR LARRY STRELITZ https://orcid.org/0000-0002-3819-0597 ii For my parents Masello and Skumbuzo Boqo & all God’s children who don’t think they can: Now unto Him who is able to do exceeding abundantly above all we could hope or think, according to the power at work within us, To Him be glory in the church by Christ Jesus to all generations, forever and ever. Amen iii ACKNOWLEDGEMENTS Writing this thesis has been a labour of faith. It was completed with the guidance of my generous supervisor Larry Strelitz. There were many times when I doubted if I have what it takes, but you stood sure. I appreciate the support you’ve shown in this process. To Abafambi, who in their own ways challenged my thinking about the world, people and politics. Happy Mulolani, Mandisa Mpulo, Mbali Buthelezi, Noko Pela, Tamuka Mtengwa. To all my friends (I cannot name you all) thank you for holding me up. Further gratitude goes to the Rhodes School of Journalism and Media Studies. Special thanks to Lynette Steenveld for treating me with love and Ryan Hancocks, with the assistance of the South African Reserve Bank, for funding this degree. I’d also like to acknowledge my family at River of Life Church, under the leadership of Pastor Innocent and Milcah Matepo. -
76 SNTK Anglijskij Yazyk.Pdf
Министерство образования Республики Беларусь БЕЛОРУССКИЙ НАЦИОНАЛЬНЫЙ ТЕХНИЧЕСКИЙ УНИВЕРСИТЕТ ФАКУЛЬТЕТ ГОРНОГО ДЕЛА И ИНЖЕНЕРНОЙ ЭКОЛОГИИ СБОРНИК МАТЕРИАЛОВ 76 – й студенческой научно-технической конференции 23 апреля 2020 г. Электронное издание Минск 2020 УДК 811.111 ББК 81.2 Англ. С23 Сборник материалов 76-й студенческой научно- технической конференции / под общ. ред. Хоменко С.А., Личевской С.П.// БНТУ, Минск, 2020. – 227 с. ISBN Р е ц е н з е н т Заведующий кафедрой английского языка естественных факультетов БГУ, кандидат филологических наук, доцент А.Э. Черенда В сборник включены материалы докладов 76-й студенческой научно-технической конференции по секции «Английский язык». Белорусский национальный технический университет. Факультет горного дела и инженерной экологии. Пр-т Независимости, 65, уч. корп. 9, г. Минск, Республика Беларусь. Тел.: (017) 331-40-52 E-mail: [email protected] http://www.bntu.by/fgde.html Регистрационный № БНТУ/ФГДЭ 08-51.2020 ©Хоменко С.А., компьютерный дизайн, 2020 © БНТУ, 2020 2 Содержание Kareniuhin S.., Khomenko S. The Causes of Defects in Iron Castings .................................... 9 Savchenya A., Khomenko S. The Influence of Technological Parameters of 3d Printing with PLA-Plastic on the Mechanical Characteristics of Products .. 14 Chernaya A., Khomenko E. Features of Laying Underground Communications by Microtunneling Method .......................................................... 19 Tishkovskaya E., Khomenko E. Secondary Use Waste Paper and Paperboard ......................... 22 Baskov A., Soroka S., Beznis Y. Quantum Computer ................................................................. 25 Borganova E., Maletskaya D., Beznis Y. Virtual Images in the Modern World ...................................... 29 Zholud L, Beznis Y. Artificial Intelligence in Medicine .......................................... 33 Amelianovich K., Slesarenok E. The Manufacturability of the Devices .................................... 37 Moroz M, Slesarenok E. Super Handing All-Wheels Drive .......................................... -
A Multi-Jurisdictional Perspective
10 Are some classes of consumer-investors of collapsed pyramid and Ponzi schemes vulnerable? A multi-jurisdictional perspective Prof. Tibor Tajti (Thaythy)1 List of abbreviations and acronyms bus. – Business Bankr. – Bankruptcy CEE – Central and Eastern Europe CGAP – Consultative Group to Assist the Poor EU – European Union FTC – Federal Trade Commission (United States) HUF – Hungarian Forints (national currency) MLM – Multi-level Marketing Scheme NB – National Bank OXFAM – Oxford Committee for Famine Relief (UK) SEC – Securities and Exchange Commission (United States) SFO – Serious Fraud Office (United Kingdom) UCPD – Directive 2005/29/EC (11 May 2005) concerning unfair business-to- consumer commercial practices in the internal market [European Union] UDIS – Unlicensed Digital Investment Schemes UK – United Kingdom US – United States 1 Professor of law and Chair of the International Business Law Program at the Department of Legal Studies of Central European University(CEU), Budapest–New York– Vienna [https:// www.ceu.edu]. Contact email: [email protected]. This paper served as the basis for the pre- sentation of the author at the international conference ‘Fair and non-discriminatory access to financialservices’ organized by the Faculty of Law of the University of Copenhagen on 26–27 September 2019. The author would like to express his gratitude for the exchanges related to this study to Professors Catalin Gabriel Stanescu (University of Copenhagen), Asress Adimi Gikay (Brunel University, London, UK), Károly Bárd (CEU), Csongor Nagy (Law School Szeged, Hungary), Su Su Mon (Yangon University, Myanmar), Ni Ni Win and Nan Kham Mai (both from Mandalay University, Myanmar), and Akshaya Kamalnath (Auckland University of Technology, New Zealand), to Matthew deCloedt (CEU SJD candidate), my former master’s students Ma.