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Comments about ‘Alpine businessman Claud 'Rick' Koerber carries on despite Ponzi scheme charges’

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He denies allegations and has relaunched economic project

Published: Wednesday, Jan. 27 2010 12:00 a.m. MST

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Captive Capitalist

I'm afraid if the truth truly does come out Mr. Koerber will spend some time in Bluffdale. However, as convincing and charismatic as he is, he will probably profit starting the "Captive Capitalist Project". As the Captive Capitalist, he will establish the principles of prison prosperity (i.e. faith begins with self-interest, people are assets etc). On the side, he will establish Convicts Capital where he will convince twelve inmates to collect cigarettes from their friends with a promised return of a case a month. The money will be milled into equity like concrete court-side real estate. Of course using other young naive convict's credit scores (pay 'em a pack), lease options to buy,125% LTV, throw in a luxury car. This and more combined and a film venture cannonizing the father of cancer sticks, "marlboro man--the founding father and cancer capitalist." Of course his understanding of the maximum security laws of the prison will absolve him from any wrong doing and leave his multi-level friends dealing with the smokeless inmates fury. Just a bad business venture (rob peter to pay paul, llc) and immoral collective authority destroying his personal freedom and prosperity.

Pot calling kettle black

Aren't Social Security and Medicare the biggest Ponzi schemes in the world? Previous investors are paid off with the money of new investors...
Why isn't the US attorney's office prosecuting Federal elected officials for running multi-Billion dollar Ponzi schemes? Hypocrits.

Did I read this

right? He was divorced in November and now remarried -- and HE has the kids??? And with all of the investment money he attracted, he would have to be one of the greatest salesmen (or con-men) to come along in a very long time.

Question?

Is this a case of a duck syndrome? If it looks like a duck, talks like a duck, walks like a duck, then it must be a duck!

Joe Blow to Rick

How much did you personally GAIN or LOSE in this "legitimate investment"?

If others lost their money and you gained, that says it all.

If you lost yours also, maybe you would be vindicated.

Bottom line, did you profit from this venture or not?

Why?

Is the news still writing about this guy, and giving him the chance to preach his stuff?

Anonymous

FYI- The Utah State Prison is actually in Draper, Utah and not Bluffdale, Utah as one contributor stated.

Bill

Who in their right mind would marry someone facing 200 years in jail?

Ernest T. Bass

He used the commitment pattern on me, I'm ready to write a check to him right now.

Eddie

Would you buy used car from this guy?

Justice

This is NOT a case of duck syndrome. No criminal case is. If the guy says he didn't do it, it's up to the Gov't to prove it. And if they can't, he's NOT GUILTY. So look to the Govt's actions and discern their motives: if their case is strong, they should respect the system, keep quiet, and prove up their accusations in court.

Just put yourself in this guy's position; anyone can be accused by the Gov't of anything. That's why the Bill of Rights spends so much time on criminal issues, because we all deserve a fair trial.

Let this guy get his.

Ponzi Schemes

I live in Alpine just off Healy Boulevard. I wonder when they are going to come and get my neighbor who has been running a real estate Ponzi scheme?

We have all heard it right? 3% a month? Promises promises and all he has done is take everyones money and forget to pay the 3%/month that he owes everyone.

No harm in that right?

It is not all his fault though. People need to get a clue when you get approached with these promises of obscene profits.

@Anonymous | 7:30 a.m.

You are correct, however, as our "Free Capitalist" friend is facing federal charges, he will be sent to a federal prison and not a state prison.

Hind Site

Hind Site is 20/20. How can someone in good conscience who burned through $120 million and have nothing to show for it believe he did nothing wrong.

This man is the smoothest of smooth. You won't find a nicer, friendlier, more intelligent, talented thinker and orating deceiver. A business man he is not.

Whether his intentions in the beginning were right or wrong, what has resulted is tragic. He destroyed my neighborhood and has bankrupted the lives of many. Shame on us for thinking this man had a better mouse trap. Shame on him for creating a false mouse trap.

The State

The government is not on trial here, but this man is. Blaming the government is his only defense. Someone repentant would admit guilt and try and make things right.

This man is such a good deceiver he has deceived himself into believing that taking investors money and losing it sometimes happens when the economy drops off. So, if this is not a ponzi scheme, where did all the money go? A person can't spend all this money on cars, homes,trips, friends cars, friends houses, other businesses, and expensive adoptions. Where is the money? Most of it must have paid the 3% ponzi return.

I know people who put money into this man's quagmire after his equity mill was shut down, not knowing it was shut down. Where did that money go? They would certainly like it back.

I know people who lost their entire life's savings thinking their investment were safe because real estate was backing it.

I know people who believe this man is innocent and I know people who can see through the lies.

Let's get on with the trial!

Anonymous

He can blame liberals. That always seems to work in Utah.

Anonymous

There are people who hold promissory notes signed by Mr Koerber, many for hundreds of thousands of dollars. Hope he plans to repay his debt to these individuals with proceeds from his current and future enterpises.

Claud troubles

Claud's problems are:
Claiming high rates of return.
Not declaring losses in a timely manner.
Lavish spending on personal property.

Those issues have nothing at all to do with good old American Capitalism.

Here is a tip

When you hear the following:

"3%/month return on your investment"

"bridge loans"

"we usually don't accept investments below $100K (or whatever amount) but since you know (me or friend x) we will make an exception for you to invest"

"we have closed investments but will make an exception for you"

"if the loan fails we take the asset, liquidate it and give the investors the money"

"this is really a no lose investment"

These are the signs of a ponzi scheme. Pick the product whether it be real estate or whatever and put the these words around it. Scams.

You are in one and you don't believe me?

Go ask for your investment back IN FULL and see what they tell you.

You will quickly find out they are robbing peter to pay paul.

Run don't walk away from this stuff and it is all over the Wasatch Front and everyone thinks it can't be them that gets victimized.

If you choose to ignore the facts that I have laid out then you will be a victim of your own pride that is telling you right now that your are too smart to be duped.



dbf

There are always at least two greedy people in a scam, the scammer and the person willing to give them money on a promise of getting rich. Buyer beware!! True words of wisdom.

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