Force Majeure!

“No Ponzi schemer tells anyone how exactly it works. The purpose of the Ponzi scheme is to trick people, to take the money and run .”- Mitchell Zuckoff.

A “legal contract” is a legally enforcing agreement between two or more parties. Different jurisdictions have different laws, and the “legal agreement” is governed by the law of the land. To understand in layman’s terms, let us take an entity based out of Canada which enters into a legal contract with a person in the United States. The agreement must be drafted so that the rights of the person in the USA are safeguarded in case of breach of contract by the entity based out of Canada.

However, in times of the digital era, where all the legal contracts are hidden beneath a small “thumbnail” at the bottom of the website, it is challenging for retail investors or anyone without a legal “know-how” to verify whether the legal contract is fair and free from fraud and misrepresentation. Unfortunately, the scamsters have benefited from this fact…