
102: Eugene Soltes – Unraveling a $65-Billion Ponzi Scheme and Notorious Cases of Insider Trading
Chat With Traders
00:00
The Importance of Redeeming Money
The returns were fantastic, but in some sense also you could say too good to be true. He's kind of consistent 8% to 10% returns which as has been shown was totally infeasible with the strategy that he was touting. The money wasn't there. It would actually produce a statement. But the statement would show a list of the various essentially calls and put options that he purchased and then this underlying basket of S&P shares. So the returns looked really good on paper, but in reality, the money actually wasn't even there.
Transcript
Play full episode