OffshoreAlert
Daily news, documents and intelligence about Offshore Financial Centers and those who conduct business in them that you will not find anywhere else.
RSS Feed Print
Criminal Complaint Nicholas Smirnow (Pathway to Prosperity or P-2-P)
Internal Administrator
Posted: Saturday, August 13, 2011
Joined: 10/12/2010
Posts: 5780


Posted: 9/25/2010 8:20:56 AM

By: Hunter

Link to Criminal Complaint of Nicholas Smirnow. This is the Canadian citizen who ran Pathway to Prosperity or P-2-P.

http://www.alabamaagainstfraud.com/ALAFBoard/HYIP/P2PSmirnow/CriminalComplaint.pdf

You may need to refresh your browser after loads if first few pages don't show up.

Now before you read the Criminal Complaint. Take a guess as to how long scheme ran, number of investors, and amount taken in. Here are some choices.

1. 13 months, 10,000, $5M
2. 8 months, 15,000, $20M
3. 24 months, 40,000, $70M
4. 18 months, 20,000, $15M

I would never have guessed the correct answer. I cheated and read the Criminal Complaint first. I used to post about these kinds of HYIP programs all the time but figured no one really paid much attention or cared because the programs were small-time with a few seasoned pyramid-type investors. Boy howdy was I wrong about the small-time part and few investors part.

If Forbes put out a list of illegal-richest, you would see the drug lord types, illegal arms dealers, Madoff types, etc. After reading this Criminal Complaint, I wonder if some of these HYIP scammers would make such a list.


 

Jump to different Forum... 

We hunt for red flags in high-value, cross-border finance by monitoring offshore and onshore courts, regulatory actions, offering documents, and other sources - and email you the results.

View Recent Digests

Cayman Court Secrecy: A Huge Red Flag for Foreign Investors & Clients
David Marchant
As any fule kno, the biggest enemy of fraud, corruption, money laundering, and other forms of financial crime is transparency, while their best friend is secrecy. That's why the unprecedented mass sealing of cases that's taking place at the Financial Services Division of the Grand Court of the Cayman Islands is repugnant to anyone with a genuine concern for financial crime.