Money Blending
By mor
@stringer321 (5682)
Kiryat Ata, Israel
April 12, 2016 10:10am CST
In my country, there is a woman who has lost a lot of money and maybe her company was just lying all the time. Her company deals with buying buildings as a group buying.
The company has auditors who monitor the money transfers, they make reports with many details that no human being can understand.
The reports look all right, but, the truth behind them is not so good.
I'm reading an article from globus website. It tells about how lack of transparency and a huge load of details in reports can allow an owner to transfer money from his company to his own account.
The rules and standards about how to make a money report are too blur and allow problematic writing.
The fortune report of a company is supposed to show the money left after debts, not before paying the debts. What more ?
The company owner used money from the company for her own needs, and the reports didn't specify it. Just wrote things like: overhead, administrative expenses, advertising expenses and etc...
The real details behind those headlines can be found at the FINANCIAL INDEXES. Those show the real expenses: international flights, family vacations, garden maintenance.
Your turn, mylotters, what do you think about it ?
Isn't there supposed to be some more accurate information in money reports ?
One got to understand what trap he goes to when joining a group buying.
His money is supposed to go to a loyalty account that is monitored and supervised by a third factor. (I hope I translate it right ) I mean, we can't just give our money without investigating where it goes to. The money can be gone if no one make sure it will be used the right way. There must be a neutral regulator who makes sure no one will use that money but, for buying the apartment.
3 people like this
2 responses
@crazyhorseladycx (39503)
• United States
18 Apr 16
bless her heart, there's so many out there that pull these sort'a shenanigans. sadly, there's lil recourse fer her, e'en if taken to litigation.
one should always thoroughly investigate any place they wish to place their funds. unfortunately many jest listen to the hype given 'nstead'f diggin' a lil deeper :(
1 person likes this
@stringer321 (5682)
• Kiryat Ata, Israel
19 Apr 16
I don't think she is innocent, she spent a lot money from the company for herself.
How can anyone check a company situation and check if the company has money ?
1 person likes this
@stringer321 (5682)
• Kiryat Ata, Israel
20 Apr 16
@crazyhorseladycx If there is a young business, if everyone stays away from it, the business can't make any deal, can't prove itself.
I think we need to know the business owner.
1 person likes this
@crazyhorseladycx (39503)
• United States
19 Apr 16
@stringer321 so she's'n position to've access to those funds? one can check the financials'f such if'n they're willin' to dig a lil deeper. these days i'd also stay clear'f businesses that're younger'n 5 years - jest so's one can peruse their track record.
1 person likes this

@stringer321 (5682)
• Kiryat Ata, Israel
12 Apr 16
I think scams like this must be prevented by law. Many innocent people hope to buy an apartment and their money gets lost when they pay.
There must be some kind of regulation and law to enforce accuracy of financial reports and transparency.
1 person likes this
@Marcyaz (35316)
• United States
12 Apr 16
@stringer321
It is definitely a scam but how do we know someone in the government isn't in on it also.
1 person likes this
@stringer321 (5682)
• Kiryat Ata, Israel
20 Apr 16
@Marcyaz The court and the police investigate that woman, I don't think she has some connections at the government.
1 person likes this




