Cyprus-Forum.com

[merrytraveller]

I spent many hours at the bedside of my friend Stelios before he died. During one of our conversations about regrets in life, he said that he regretted being a fool and losing CY£5,000 in the Stock Exchange scam.

Did anyone ever get prosecuted in connection with this swindle?

If there are any court cases still going on, will any of the losers be left alive when they reach a conclusion?

[Sotos]

CY£5,000 is peanuts compared with what some other people lost. I hope the people that lost money learned the lesson that easy money comes only with high risk and high risk means that you could lose everything instead of making a profit. I remember back in the day when even my barber thought he was Stock Exchange expert and he was discussing with other clueless clients on where they should invest next Most of those who took advantage of the naive knew what they were doing and I am sure most of them did everything according to the laws and they are covered.

[Mikiko]

There are people who lost 100,000 and even more . Unfortunatley ,many confused the stock exchange with casino or a game. I dont say that there had be no scam companies trying to steal funds with fraudulent means . And also state responsibility too .The Cyprus Stock exchange was at an elementary stage that time with no rigid rules and controls . Also nvesting online through the internet was a recent invention and everyone was so delighted to buy shares online this was not a phenomenon only in Cyprus but worldwide and If you look back at those dates all international stock exchanges were rising as people were buying shares online .When there is excess demand the price of course will rise and not reflect the value . Shares are to be kept for a long term and of course with a strategy . Short term thinking with no strategy is the most significant reason these naive people lost their money.

[Sotos]

There are many naive people. Sometimes I don't know who pisses me off more. Those that run the scams or those who fall for them!! Should the government babysit people and stop them from doing stupid things or should we just have a free market and people be responsible for their choices?

[pretty-as-pink]

But some scammers are very good though, not everyone is the same when it comes to spotting a scammer and there are alot of vulnerable people out there.
It is the victims who you should feel sorry for.

[SKI-preo]

No offense but how about working for a living instead of relying on get rich quick schemes.