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Mr.
DAVE
MARCHANT:
This fund was operated illegally.
(Footage of
Marchant;
newsletter; Web site)
MORIARTY: (Voiceover)
Dave Marchant
is a corporate financial adviser who publishes the
OffshoreAlert
newsletter. He
says the Bahamian government froze the fund after its manager
misused money.
Mr.
MARCHANT:
The--the clearest example is buying himself a house.
MORIARTY: You're saying the manager of this fund used some of the
money that people had invested, like Gil Morgan, to buy a house for
himself?
Mr.
MARCHANT:
He most certainly did, and he's admitted it.
(Footage of Moriarty and G. Morgan)
MORIARTY: (Voiceover) So what's left for investors like Gil Morgan?
Mr.
MARCHANT:
I think investors will be lucky to get cent on the dollar--a few
cents on the dollar.
Mr. G. MORGAN: The money is in danger. It's in grave jeopardy.
(Footage of seminar)
MORIARTY: (Voiceover) But it's not just foreign funds offered at
these seminars that raise red flags. Remember those untraceable
accounts in Latvia?
Unidentified Man #11: We use the jurisdictions of Gibraltar and
Latvia.
Mr.
MARCHANT:
I mean, who in their right mind would send money off to a--a Latvian
bank?
Unidentified Man #11: You can be accessing funds and moving funds
without your name being attached to it.
(Footage of seminar)
MORIARTY: (Voiceover) Those unmarked accounts are in unstable
economies.
Mr.
MARCHANT:
So if you do not get your funds returned, what proof do you have
that the money is even yours?
(Footage of seminar)
MORIARTY: (Voiceover) And if you do lose money, don't look to Global
Prosperity for help.
So if IGP says, 'Hey, the group doesn't endorse any of these
investments,' and the founders warn you to investigate, then they're
not responsible if you lose money.
Mr.
MARCHANT:
Legally probably not responsible. Morally--I would say it's morally
reprehensible. |
