pbmax
07-24-2019, 07:35 AM
I already owe this guy an apology, but I get a strong whiff of baloney in this article about Chase Carlton.
https://www.washingtonpost.com/news/magazine/wp/2019/05/09/feature/athletes-hire-him-when-they-think-theyve-been-swindled/
Athletes lose money to fraudulent investment schemes and crooked advisors all the time (just ask Mark Brunell!). Carlson is a fraud investigator, though its not clear what his exact background is other than his father being in the fraud investigation business.
Edited to add: Interned with a financial firm while going to law school at night. Worked on a masters in finance on weekends. Got a securities license. Tired to get athletes to invest with him. Didn't go well, joined his father's firm. The article doesn't mention doing search for public records about the guy. Does he have a license? Did he graduate with either degree?
He claims the fraud number calculated by Ernst and Young some years ago is low and that he has access to information they don't. But that probably runs both ways. His estimate of $1 billion dollars lost seems like top of the head guess.
He has 30 clients and has recovered $9 million in forfeitures. Now recovering stolen money is likely very hard, a lot of it is probably spent quickly on non-liquid stuff and put into others people's names. And who knows how transparent the financial sector in Belize is? But if Carlson has 30 clients, several of which have lost double-digit millions AND he knows of $500 mil that E&Y don't, shouldn't that number be higher?
Kevin Garnett claims to have lost $77 mil to his advisors. Charles Barkley lost $7 mil last night playing bridge at the old folks home.
And the vague suspicion I have that an antique and classic car restrorer (both businesses Carlson has run) are rife with fraud and, I would think, would make good money laundering schemes.
https://www.washingtonpost.com/news/magazine/wp/2019/05/09/feature/athletes-hire-him-when-they-think-theyve-been-swindled/
Athletes lose money to fraudulent investment schemes and crooked advisors all the time (just ask Mark Brunell!). Carlson is a fraud investigator, though its not clear what his exact background is other than his father being in the fraud investigation business.
Edited to add: Interned with a financial firm while going to law school at night. Worked on a masters in finance on weekends. Got a securities license. Tired to get athletes to invest with him. Didn't go well, joined his father's firm. The article doesn't mention doing search for public records about the guy. Does he have a license? Did he graduate with either degree?
He claims the fraud number calculated by Ernst and Young some years ago is low and that he has access to information they don't. But that probably runs both ways. His estimate of $1 billion dollars lost seems like top of the head guess.
He has 30 clients and has recovered $9 million in forfeitures. Now recovering stolen money is likely very hard, a lot of it is probably spent quickly on non-liquid stuff and put into others people's names. And who knows how transparent the financial sector in Belize is? But if Carlson has 30 clients, several of which have lost double-digit millions AND he knows of $500 mil that E&Y don't, shouldn't that number be higher?
Kevin Garnett claims to have lost $77 mil to his advisors. Charles Barkley lost $7 mil last night playing bridge at the old folks home.
And the vague suspicion I have that an antique and classic car restrorer (both businesses Carlson has run) are rife with fraud and, I would think, would make good money laundering schemes.