TIM
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0.00% 4.4¢ timbercorp limited

finally, it's a ponzi !

  1. zwu
    2,411 Posts.
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    31/08/09
    22:58
    Post #: 5579160

    There is an article in today's AFR (p.45) titled "Angry investors question reason to pay".

    It quoted from Kacpherson & Kell lawyer Ron Willem as saying,

    "... It (GTP) really a Ponzi scheme, so it relied on new sales of projects each year to meet the ongoing liabilities of previous projects."
    TIM Price at posting: 4.4¢ Sentiment: None Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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