Justice is served!
The wheels of justice sometimes turn slowly, but they do turn.
Three and a half years ago, an FPA member asked a simple question about MyTIRN an investment website that seemed too good to be true. I took a look and warned her that it was covered in red flags and was full of red flags. I was surprise by the number of people who jumped in to defend TIRN. Most of them only made one post and then disappeared. I and others here kept trying to warn people that this was an obvious scam. Then the CFTC filed criminal charges were filed against David Merrick as well as against Traders International Return Network in the summer of 2009.
I thought this was over. It wasn't. A flock of ugly little "baby TIRNs" hatched and each tried to claim that there really was a way to make piles of money with no risk and effort. I and others tried to warn people, but some just couldn't resist temptation.
Finally, justice has caught David Merrick. He pled guilty in May 2010 and his sentence has finally been handed down. On January 20th, 2012, he was sentenced to 8 years and a month, plus millions owed in restitution and millions more in assets to be forfeited.
I'd like to thank the FPA for forwarding me the info sent in by email and to thank "Mr. Scott" for sending it to the FPA.
Here's the full press release from the US Justice Department on the sentencing:
USDOJ: Orlando Man Sentenced To 8 Years For $11 Million Fraud Scheme
I think this quote sums it up very nicely, "
that investments in TIRN would yield exceptionally high returns not achievable anywhere in the legitimate business world."
Have a nice day!
(unless you're a scammer)