Scammer's portrait: Gary Chase, The evil genuis

by Tony Clifton

This is really for the old timers in the HYIP world, because 1 year here is an entire epoch. Yes, it was about an year ago when i saw this recommended by everyone investment program - Golden Nestegg.

It was a time of crazy HYIPs paying 6-10% per day and everyone arround was loosing money in these scams every day. The people were looking for something real and Gary Chase gave it to them.

Golden Nestegg was "real" and trusted program. The people were talking about it in the same way like they now talk about FeederFund, MPDW or Udachu (hey, i hope this does not mean these 3 will end as GN!!!). It was real company, certified, with well developed custom site, amazing support, it was accepting bank wires, offering debit cards and providing amazing support.

GN offered realistic profit or at least the HYIP community still did not know what is realistic. There were several plans paying from about 10-15% monthly to variable ~8% weekly (GN4, the risky fund).
Poor people, we did not know all the 4 funds had equial risk, well calculated by the evil genuis Gary.

Golden Nestegg was not the biggest scam, but it was probably the best set up one (except one which is operating now maybe). There were real people hired by this real company - I still remember Radu (the administrator) who keeped working for the company untill his contract was over. Gary was rised in cult from his investors. He was always there, always helpful, flying thru the world to manage new businesses, preparign new investment plans, managing the investments, responding to inquiries and making fast withdrawals. He had an answer for each question and the due diligencers never doubted GN was genuine.

But GN disappeared like all the scams. First the problems with the site started. Arround Cristmass and New Year they had few weeks with lower returns (now we all know this was because of less spends in the ponzi and more withdrawals) and they even paid them out without getting an admin fee. How generous! But it was too late for the ponzi to survive. The people were compounded nice profits and started to withdrawal more and more. Gary Chase realized that he would start loosing the stolen money so he flied away. Then everyone realized that the real people in the real company have never seen their boss face to face! People refused to believe GN was scam - they invented stories how Gary was very sick, other lied about getting paid, other were praying for Gary to come back. They were ready to love the scammer again.

Golden Nestegg was one of the worst experieces for many of us, since people believed it was for real. Here is the evil genius of "Gary". Will Gary come back ever? Yes, i think so. I think he is here now and runs another

scam, and it will be the best made scam again.

Published at Sep, 27 '05 , Read 1456 times.

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User comments:

HyipMonitor.info at Jan, 15 '10 08:54
Nice article, but were there any attempts to catch Garry and put him to Jail?
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