Thread: SEC vs CEP
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Old 08-29-2007, 03:08 PM   #10 (permalink)
Simon
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Default Re: SEC vs CEP

For the first time, the receiver is sueing individual investors who received a lot of money from CEP Holdings.

Notice that the receiver is legally entitled to sue for all funds withdrawn, regardless of the initial amount of money put in by a member. If you put in $25,000 and then received $75,000 back, the receiver would sue you for the full $75,000. You would then be entitled to a share of the residue funds, based on your investment amount. That means that every member loses out (the law doesn't care about this, since people were putting money into an illegal scam).

The reason that not everyone who received money is being sued seems to be that the receiver has set a dollar threshold, below which there would be no point in sueing.

So, if you're thinking of putting money into a site run in America, think again! And just to be safe, follow the same logic for all surf / hyip sites on the web.

I have little sympathy with those who put money in, and are now faced with a large loss. In the long run, it should stop people from playing with fire again and again (as many are prone to do) - they have to learn to stand on their own 2 feet, and take responsibility for their actions.
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Last edited by Simon : 08-29-2007 at 03:14 PM.
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