DislikedWell guys i feel for you, its not at all nice when people lose there money, and as far as i know this could all still end up ok. But the big problem is obviously nobody did any due dilligence before investing ,did you not think before sending money into another country to be managed by someone you dont know, that there could be problems and how you going to solve them. What would you do if jacko got run over?? is he licensed to do this by any financial authority.Who has any authority to do anything with the accounts apart from jacko. are the accounts...Ignored
Those who lost tens of thousands should remind themselves though, that there are others who were scammed by even more sophisticated scammers (the bankers who have Washington in their pocket). I'm of course referring to those who bought real estate priced 15x annual income, then couldnt refinance that ARM loan, then had to foreclose the home - meanwhile loosing their down payment of similar size.
In the end, it's the simple lesson any greedy personality (i.e. prety much all of us here at FF, lets be honest) has to loearn somehow: always keep your assets under control.
I myself had considered placing an interest to the Jackson Fortress LTD after following his paid blog for 18 months. After some minimal research on where this entity is registered, it became clear this was a 2-bit operation with no real base - and you don't need to look in hong kong for this: if an organizatino takes money from a US entity (private or corporate), the IRS is going to have to know about this, which means there has to be some kind of taxable entity registered somewhere (usually Delaware), that has an association - otherwise it's technically illegal, which is all you need to know to stay away.
This did not cause me to discard his trading advice and blog posts - they were thoughtful and reasonable. But it did certainly keep me from considering an investment.
Remember: every one here who is doing this seriously has lost significant sums in the beginning (some geniuses or lucky ba##ards notwithstanding), and every single investing book of any quality makes this point: trade with money you can afford to loose without jeopardizing your life/future.
In fact, I am pretty certain that others who have not used J16 or Jacko or whoever is the scammer du jour, have had their nuts chewed on by the market, also loosing large sums (and learning other valuable lessons as a result).
Personally, what fascinates me the most is the simple fact that GREED is such a powerful force, it can cause otherwise smart and educated, responsible individuals loose the connection with reality and do something reckless.
.
