Final Nail in Coffin?

by | Jun 20, 2001 | Archives

Fate or Will? That is the question. My experiences with investors suggests fate, so before you read two final stakes in IGP’s heart let me share a true story that happened to me at another time in a different… I was living in Hong Kong about 30 years ago and had become enmeshed with the CIA…

They called themselves political officers and being young and innocent, did not know what that meant. CIA agents pay tax too and loved tax shelters (my business at that time). Met everyone at the Consul in Hong Kong, the FBI liaison officer was a client and all these political officers. The rest of the Foreign Service called them “Spooks” and the head of the CIA always had two (very large) goons trailing. I wondered?

One of these officers asked for help in a commodity deal. Seems a commodity broker for a Japanese commodity firm had found a way to know prices in Japan a few minutes before the wire service informed Hong Kong. The officer and the broker were setting up a scam to rip off the commodity firm. The officer was putting in $10,000 and needed a third account to funnel the theft. The officer wanted me as the third guy.

Being young, there was no experience about this stuff, but this seemed fishy. I asked around. Turned out this broker was famous for cons. He would gets the client’s money, churn it for commissions and lose every penny. What was the sucker to do? Go to the police and complain that they had been ripped off while committing a crime?

This is a favorite tactic of con artists. Get the “sucker” involved trying to steal a fortune. This protects the conman when he makes the sting. The “John” is afraid to complain.

Having warned the client and telling him exactly what would happen, guess what he did? Did he go ahead and give the broker the $10,000 and lose it?


He gave him $10,000, lost it and then and gave the broker another $10,000 to salvage the first ten (he thought)! This officer-sucker was so caught up in greed he lost twice even when he had been told, step by step exactly how he would be conned.

Like a moth to a flame he was sucked in, knowing, but unable to stop..

With in mind let me share three final messages about IGP. If you have been in touch daily you know a reader asked about IGP and we asked readers to share. We have heard back from readers both positive and negative, (leaning on the downside in my mind).

Here are three more messages that have come in and with this we will lay this matter to rest

To be fair, let me begin with a message that is positive about IGP. Here is what I reader from New Zealand shared.

“I am from New Zealand and receive your daily newsletters with interest. One of the latest mentions the Institute of Global Prosperity. I have been participating in IGP programs for going on 2 years now. I am aware of a lot of negative publicity in regards to IGP. From my experience ( which is only 2 years) the programs have been excellent.

IGP brings together independent investment projects, such as private oil projects that have been well documented in the media, IPO's, Resorts, low budget movies, rare coins (collectables), as well as a number of different funds that deal with private placements in currency trading and the like. My returns have been from 60% pa and upwards with a minimum 5k investment. There are others who I have known personally for quite some years now, who are making greater returns, basically because they have invested more capital.

As I mentioned previously, I am aware that there is negative publicity about IGP. The internet is a ready source. As far as I can tell, the recurring theme in these complaints is that the people have not made the money they were led to believe they would make from marketing the program – not from the failure of the investment programs for the most part.

I say “most part” because there was a fund that didn't live up to expectations about 4 years ago now. Legally, IGP was not at fault as all programs are independent of IGP and individuals are warned to evaluate the different projects on their own merit and not commit any funds until they are happy with their findings. There is no solicitation and no pressure to participate in any program. Ethically, I think some people could feel very justified in feeling hard done by in believing that IGP had removed all of the risk. However, if there is no risk in an investment, there is no gain. I have since spoken to a number of the people who were involved in that program who stayed with IGP because of the success of all of the other programs they have been involved in. I think that speaks volumes.

As far as the money to be made from promoting IGP, I don't see that there is anything to complain about. I know for a fact that there are people that are having phenomenal success, and others who struggle. All I can say is…that's life.

I know there are similar programs that have caused a lot of strife and grief. All I can say is that I've found the Goose that lays the Golden egg. If there are others that are looking at it, they need to follow their own process of due diligence in determining whether they should do it. With that is a warning that there are and will continue to be untruths or a mixture of truth and half truths from individuals, government agencies etc, who have a problem with IGP for some reason, so in your investigations look for the facts. If you are interested in investment opportunities, the programs IGP provides for you are superb. If you have no money and would like to make money marketing the program but aren't sure whether you can do it, my advice is simple – don't do it… but if you do, you'd better be prepared to work your tail off. You can dress an excuse for laziness up in any for of clothing you want, but at the end of the day it's still an excuse. Follow this advice and you'll be either happy or no worse off.

So for what it's worth, this is my advice. Take it with a grain of salt or maybe eat it for dessert. All I know is I, and many others, am very happy.”

Sounds good? Here are two more messages that warn to take care.

Sorry to clutter your mail box, but, if you have put on
your desktop, just do a search on "Institute of Global Prosperity."
You'll find 31 references to it using the copernic search engine...most,
if not all, negative reports. Try, for example, et al.
Another is "mazu" website with which you're probably familiar. It
categorizes many scam areas, including IGP.

Plus we have heard again from our eClub advisor Steve Rosberg in Argentina who writes:


This is the free abstract you can find on the New York Times's website. Of
course, an IRS arrest does not necessarily imply guilt. But, in doubt, do
you want to try it? I think not.

People are free to choose their mentors. They are free to choose their
behavior. They can not escape the consequences of their choices, however.


March 6, 2001, Tuesday
I.R.S. Makes Widespread Raids Aimed at Tax Evasion Suspects
Source: The New York Times
Section: Business/Financial Desk
1005 words

Internal Revenue Service conducts most extensive raids ever, pursuing
suspected promoters of tax evasion schemes for affluent people; target is
promoters who use foreign banks and trusts to help people hide income and
create fake deductions; Comr Charles O Rossotti says more than three dozen
searches were conducted and four arrests made; Institute of Global
Prosperity, which operates Internet site promoting variety of allegedly
fraudulent tax and investment schemes, and Anderson's Ark, which allegedly
sells sham trusts for tax evaders are among those raided; Jerome Schneider,
author of books on moving money offshore to reduce or eliminate taxes, is
also under investigation; his California marketing office, as well of
records of lawyer in Los Angeles, were raided; Rossotti says move should
send unmistakable signal about agency's commitment to pursue investigations
of promoters and their clients who try to evade taxes (M) "

In conclusion, my recommendation must be to stay far away from IGP especially if you live in the US. As mentioned numerous times the IRS has now targeted offshore structures and they are aggressively attacking the promoters and clients of such organizations. It appears that the service is not buying the innocent victim excuse on this one.

We walk through this life… together, often wandering, lost in the shadows of desire and dashed hopes. Pummelled by the should bes and should have beens we forget and in this human frailty we fall. In our hopes for wealth, excitement, glamour, we are pulled in. You have a part of the IGP information, but do you have the tale? Only you can write the rest of your life’s story, your free will struggling with chance. Whatever your choice I wish you well.

Your humble servant, Gary