Adolf has absolutely no sympathy for greedy investors who bought BlueChip's PIP product without bothering to take independent legal advice. Neither do I have any sympathy for the idiots who paid deposits of $135k and signed an authrity releasing those funds to BlueChip from day one, also without taking independent legal advice.
I heard about them (the PIPs) the day they were launched and recognized them for what they were. A desperate bid by a cash strapped company to buy itself some time as it looked for new Peters to rob in order to pay Paul.
Having said that, in the interests of balance, I hope the SFO manages do nail the oleaginous Bryerlcream and send him off for a long holiday.
Update: Adolf's educated guess has something like $15 mil to $20 mil worth of PIPs land mines exploding around the country during coming days
There is a new Woodpile Report up
3 hours ago