Sunday, August 22, 2021

And now that great investment that Primo's brother asked him to make? It's being investigated

Of course we are not surprised.

I am not surprised.

This seemed shady to me from the beginning.

Primo got a weird email from someone he didn't recognize. Turns out that there is a compliance audit.

(Which is what all financial investment firms know about and should expect. I have some work experience in this area and in the company where I worked, they went overboard to dot the Is and cross the Ts and make sure everything was legally correct because the company's reputation depended on being trustworthy.)


Who knew?

Only everybody.

For this investment, the investor - that is, the trust, has to have assets of two million dollars.

No, I don't know why this is the rule. But it is.

And nobody asked Primo if the trust has two million dollars.

(It does not.)(It has enough to pay the kids' student loans and help them make a down payment on a house.)

Primo's brother's friend lied to him about being able to waive the rules.

I hope he gets fired and gets his license yanked.

But wait! Primo's brother, whom he had to talk to yesterday, which made Primo cranky, has an idea!

"Do you and Goldie have two million dollars?" he asked. "You could be the qualified investor!"

Um. No.

Even if we did have that kind of money, we would not use it for the benefit of Primo's brother and his lying friend. We would not put our names on this crap.