Yes, and by the same standards Trump has had fou5r bankruptcies and been impeached twice. Yet, he has won three Presidential elections and turned a few hundred million dollars into billions. Likewise, Martin Armstrong, after your juvenile assessment, has advised almost all US President and world leaders about the effects of risky central bank policies and what represents sound economics. You on the other hand have done nothing.
“has advised almost all US President and world leaders about the effects of risky central bank policies and what represents sound economics.”
LOL!
Armstrong has a court order barring him from giving financial advice or associating with financial advisors.
No world leader is going to associate with a convicted liar and scammer.
“after your juvenile assessment”
I made no assessment. I just posted some facts.
Facts that you do not refute.
-—‐—————
United States Attorney
Southern District of New York
FOR IMMEDIATE RELEASE CONTACT: U.S. ATTORNEY’S OFFICE
August 17, 2006 HEATHER TASKER, LAUREN MCDONOUGH
PUBLIC INFORMATION OFFICE
(212) 637-2600
FORMER CURRENCY TRADER PLEADS GUILTY
IN CONNECTION WITH $3 BILLION PONZI SCHEME
MICHAEL J. GARCIA, the United States Attorney for the
Southern District of New York, announced that MARTIN A. ARMSTRONG,
a former currency trader and former head of Princeton Economics
International, pleaded guilty today in Manhattan federal court to
a charge of conspiracy to commit securities fraud, commodities
fraud and wire fraud, stemming from his $3 billion “Ponzi” scheme
involving securities known as “Princeton Notes.”
ARMSTRONG pleaded guilty today before United States
District Judge John F. Keenan to Count One of the Indictment,
which charges him with conspiracy to commit securities fraud,
commodities fraud and wire fraud. At his plea proceeding,
ARMSTRONG admitted that he defrauded investors by fraudulently
misrepresenting his trading performance track record to investors,
and by wrongfully commingling investor funds, contrary to the
representations to investors.
According to the Superseding Indictment filed against
ARMSTRONG in 2004, during the entire course of the scheme, from
1992 through 1999, approximately 139 victims — primarily
corporate investors — were fraudulently induced to purchase more
than $3 billion in so-called “Princeton Notes.” As is typical in
“Ponzi” schemes, earlier investors were repaid, the Indictment
charged, through funds contributed by later investors and, by the
time the scheme collapsed, investors had suffered losses in excess
of $700 million. The fraudulent conduct alleged in the Indictment
included: (1) making numerous fraudulent representations
concerning the value of assets in accounts that Armstrong
controlled; (2) fraudulent misrepresentations of Armstrong’s
trading performance; and (3) wrongful commingling of investor
funds.
In January 2002, Republic Securities, a broker-dealer
whose accounts Armstrong used to carry out his scheme, entered a
plea of guilty to conspiracy and securities fraud charges in