FundRobot » Investment Fund » Is this investment/mutual fund real?

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Old   #1 (permalink)
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Default Is this investment/mutual fund real?

My brother told me that he invested in a mutual fund that George Bush created . Which is something that you invest in money for weapons and material to use against Iraq or other war places. It has a 5 year rate, meaning you won't get any money back until those 5 years past. This mutual fund was created by George Bush and is run by the government. My brother told me that they would give him 2 million for each thousand he invested in. He told me the he invested 5 thousand and that he was going to get back 10 million. Today, he told me that they told him that he is going to get those millions but they don't know when. He also told me that it might be this week or until february. Is it a scam or is this a legit investment?

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Default Is this investment/mutual fund real?

B. S.
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Old   #3 (permalink)
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Default Is this investment/mutual fund real?

My brother told me that he invested in a mutual fund that George Bush created . Which is something that you invest in money for weapons and material to use against Iraq or other war places.

Um, and WHAT is the name of this fund?? Any reason in particular that your brother didn't tell you this??

I did a search at Morningstar - and I could find no anti-terrorism fund. Morningstar is where I do my mutual fund/stock research. There is no fund that will give you a thousand fold return on what you have invested. That is fantasy returns on steroids.
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It's true but you receive Iraqi dinar in payment.
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Why do you keep asking this question? It is a scam, plain and simple. Frankly, you would have to be a complete idiot to not see it's a scam. The government would not sell shares in an enterprise providing weapons to rebels, for Christ's sake. Your brother is a moron and apparently you aren't far behind.
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Default Is this investment/mutual fund real?

This really sounds like a scam. A mutual fund never promises a return, they only report their historic performance and there's no restrictions on leaving a mutual fund. A million dollar return for $1,000 invested over five years is a 298% per annum return. Your brother probably lost $5,000 and won't be able to find the people responsible again.
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Old   #7 (permalink)
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Default Is this investment/mutual fund real?

This is the king of all super scams. First, the government has never created or operated any mutual fund, nor is it allowed to do so. Second, why would the US government give you back millions of dollars for every $1,000 invested, when they can borrow that money all day long in the open market for ANY purpose at an interest rate of about 1.5%/year and they only pay back a total of $1,080 after 5 years including all interest, for every $1,000 invested.

My guess is that the promoter of this scheme is promising to pay back that huge amount at the end of 5 years, is so he has plenty of time to catch as many pigeons as he can find, then move his money abroad and quietly abscond, never to be heard of again.

If this story you told is true, then your brother is $5,000 poorer and he will never see a penny of it again.
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