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The real victims of WEBIO/PONZI
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Author:  jimmypasta [ Wed Jun 24, 2009 8:06 am ]
Post subject:  The real victims of WEBIO/PONZI
Duped in alleged Ponzi scheme, looking for work

By Christopher Placek | Daily Herald Staff

Published: 6/24/2009 12:02 AM

Fred Samp made sure to get his front-row seat at the Schaumburg High School auditorium Tuesday afternoon to hear about job opportunities with the Social Security Administration.

The 61-year-old Deer Park resident is now looking for work after saying he lost thousands to an alleged Ponzi scheme run by David Hernandez, who was taken into custody Monday. Samp was one of 100 investors in 12 states who, according to a Securities and Exchange Commission complaint against Hernandez, was promised high-dividend returns from Hernandez's supposed payday-loan investments.

"I was doing so well I could pay my bills and many others'. Today I have nothing, and I'm here looking for a job," Samp said.

He said he was receiving five-figure returns monthly after investing in Hernandez's NextStep Financial in early 2008, but started asking questions when the checks stopped coming early this year.

Samp said he and another investor went to Hernandez's office, only to be told "all sorts of excuses," including that Hernandez had a heart attack.

That's when the two investors approached the FBI and SEC, who filed suit against Hernandez last week alleging that he shifted investor funds to Spectrum Entertainment, another Hernandez venture that provided funding for Mike North's startup Internet sports talk station, ChicagoSportsWebio.com.

The SEC alleges Hernandez also used investors' money for personal use, including $318,000 to pay off a mortgage at his Downers Grove home.

Ironically, Samp said he hasn't been able to make his last two mortgage payments and will likely lose his home.

Samp said he had three accounts with Hernandez: one for his kids' college fund, another for his mother-in-law and a personal account for he and his wife.

"We put our faith and trust in him. I considered him angel of God," Samp said.

Before, Samp said he was able to donate part of what he received to the pantry at South Barrington's Willow Creek Church, where he volunteers. He also recalls one time when he gave a needy person downtown a $100 gift certificate for a restaurant.

But yesterday, Samp joined about 550 others seeking jobs at the Schaumburg event, sponsored by the Senior Job Club of Schaumburg, Palatine and Wheeling townships. Organizers said more than 100 people had to be turned away because of the auditorium capacity.

The two-hour event was held to inform those interested about what the Social Security Administration is looking for, and how to apply for jobs through the administration's Web site ssa.gov/careers.

The administration is looking to fill 6,000 jobs nationwide, though it's unclear how many will be at the agency's 25 Chicago-area offices. John Marshall, the SSA Chicago-area work incentive coordinator, said 23 new employees were hired locally in March, and new hires would be taken through Sept. 30.
Author:  shakes [ Wed Jun 24, 2009 1:37 pm ]
Post subject:  Re: The real victims of WEBIO/PONZI
a fool and his money will soon be parted.

This guy was a fool and got what he deserved for being a greedy moron. Anyone who would invest that kind of money without first doing a thorough check on the investment and DH is an idiot. And anyone who honestly believed it was normal to get those types of monthly returns on ANY investment is either an idiot or blinded by greed.


My only regret is that I wasn't around to take some of his money as well.
Author:  Chico Dusty [ Wed Jun 24, 2009 2:12 pm ]
Post subject:  Re: The real victims of WEBIO/PONZI
Shakes I'm with you buddy. This story is supposed to make us feel sorry for some chump who was color blind with green greed. Sorry Mr Victim but I do not feel your pain - but I do laugh at you!
Author:  jimmypasta [ Wed Jun 24, 2009 2:16 pm ]
Post subject:  Re: The real victims of WEBIO/PONZI
Chico Dusty wrote:
Shakes I'm with you buddy. This story is supposed to make us feel sorry for some chump who was color blind with green greed. Sorry Mr Victim but I do not feel your pain - but I do laugh at you!


One of the oldest sayings: "Never put all your eggs in one basket."
I'm not rich,but isn't your money safer in CD's? Some guy you don't
know from Adam is telling you he will handle your nest egg?
I don't get it.
Author:  Spiral Stairs [ Wed Jun 24, 2009 2:27 pm ]
Post subject:  Re: The real victims of WEBIO/PONZI
GG - "Greed, for the lack of a better word, is good"

this is beyond stupid to think that any investment, other than drug dealing, would give you that kind of return
Author:  Pappy's Crappy [ Wed Jun 24, 2009 2:31 pm ]
Post subject:  Re: The real victims of WEBIO/PONZI
Deacon Blues wrote:
GG - "Greed, for the lack of a better word, is good"

this is beyond stupid to think that any investment, other than drug dealing, would give you that kind of return


"Webio probably coulda, but we fergot to send out da invoices."
Author:  Spiral Stairs [ Wed Jun 24, 2009 2:46 pm ]
Post subject:  Re: The real victims of WEBIO/PONZI
Pappy's Crappy wrote:
Deacon Blues wrote:
GG - "Greed, for the lack of a better word, is good"

this is beyond stupid to think that any investment, other than drug dealing, would give you that kind of return


"Webio probably coulda, but we fergot to send out da invoices."


Bebe - "I thought the sponsors would just give us a blank check and we would fill in what they owed us, plus a little extra for me and mike. "
Author:  DGilligan02 [ Thu Jun 25, 2009 10:39 am ]
Post subject:  Re: The real victims of WEBIO/PONZI
Pardon me for a lack of empathy, but:

It is possible the Hearld made a mistake and this guys name is actually "Simp" and not "Samp", as reported?
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