Francis Koenig - A Ponzi Scheme?
Haha. Gene Ross strikes again -
********.com Crocodile writes on xxxporntalk: Francis Koenig, manager of hedge fund AdultVest, tells The Atlantic Monthly his hedge fund returned 50% last year by investing in porn-related assets, both public and private. The story fits with the common perception that sin and sex sell in any environment. We asked Koenig what, exactly, he's been investing in that's bucked the trend, but he was unwilling to go into much detail. He noted AdultVest bought some porn domain names, which have been appraised at higher values, but which haven't been sold. He also mentioned AdultVest's stake in iPorn -- a startup doing porn for the iPhone. But iPorn hasn't launched yet so any value is going to be difficult to determine. Coke Stevenson writes on XPT:If it looks too good to be true, it probably is. Frances Koenig doesn't know anything that his competitors don't know. In fact he knows a lot less. If this is a Ponzi scheme or something shady, he was incredibly stupid to claim a 50% gain. As if no one would notice. We should hear after people try to withdraw funds. Money laundering is a possibility. More likely Koenig started losing money but wanted to keep the lifestyle/successful image going, so he started lying on paper and doing the ponzi thing with new investors. If this is where all the successful porn scumbags have put their money, it could devastate the industry. |
what i think is really funny is that if you go to the iporn website on your mobile iphone, the site works like shit. there's no way to register, the site times out and misfunctions all over the place, and when you watch one of the movies and then go back it takes you out of the site and back to the warning page. not to mention there is no way to take money on it. how do you make money if there's no way to join, no advertising, and the site doesn't function properly on the sole device it was created for? the movies are all crappy old eurotrash movies from the looks of it. this thing could have been so awesome.
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In other words they must improve their sites first and be productive from it.
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I just tried iporn.com on my ipod touch, not too impressive but it basically worked.
That quality sure doesn't explain all the money they have burned. Factoring domain name appraisals in to their gains is a huge joke. |
I wanna party with Coke Stevenson.
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Is there a site? I created an account but there's nothing after that. No login, no members area, no ads, what is this thing?
WG |
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:thumbsup:thumbsup |
Did people seriously invest in this based on this website? Wow.
WG |
wow....a "porn hedge fund"
what was it $4 million dollars? pissant amount to be called a hedge fund. my school has an fund 5 times that, managed by students, who dont get paid a dime. did people on gfy seriously invest in this ??? |
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this guy is a clown.:2 cents:
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And the fact they paid around $5K for that shite design show that they have no clue. |
shit! i want my $50 back plus the 50% interest ASAP!
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I don't doubt that it was easy to get investors but I hardly think many of them came from within the industry.
Outsiders have no clue what a successful adult business looks like and are excited by being in porn. Easy to sway them with hype, naked women and parties. Those in the industry who were exposed to this deal saw many things, a successful, properly managed adult business was not one of them, from what I have heard. |
What the porn Hedgehog thinks about the porn Hedge Fund:
http://www.smh.com.au/ffxImage/urlpi...remy_ron,0.jpg ADG |
The trick with Ponzi Schemes is as an investor you need to get out at the correct time and you have made money !!. Of course the people who lost the money can come back to you upto 6 years.
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I think the best part is: "He noted AdultVest bought some porn domain names, which have been appraised at higher values, but which haven't been sold"
So If I buy a domain, and get it appraised to $50.000,- In his mind, I dont need to sell it to be able to claim i made $49.990,- Just the fact that I now own something that someone have put a $50.000,- prizetag on is enough for him. I cant belive that anyone fall for this. It's as idiotic as the nigerian letters, and just as real |
karma is a bitch :)
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I guess we'll find out in a couple of years from now if not sooner
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Guy is such a lost individual I think he personally created all this because he has a sex addiction a really sick addiction to cumming inside women. I heard he creampied all these adult models in the valley.
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lies. all lies. |
he is a joke. :1orglaugh
adultvest.. lol anyone dumb enough to invest in his so called venture = serves them right when they dont get a cent back |
waste of space. i would give money to porno dan before i would this guy.
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Man, I sunk a ton of cash into this, I was sure vests were ready for a comeback!
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Seriously if you really did, what made you do it, I mean what really "sold" you? Did you have no warning flags at all, if so why did you ignore them? |
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he's trustworthy. |
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