Does that seem legit to anyone here? It occurred to me that this isn't about a dream of starting a $40 million mining operation. Who in there right mind thinks they'll be given a $40 million loan without a down payment or any assets to secure the loan? The numbers above are literally pulled out of thin air, they are the fantasy. Etranger intends to take the $150k, go to a crypto conference to snap some photos to make it look like he's working diligently, go on some lavish trips pretending to meet with "investors" and "consultants," and the whole time living large off the investor's money. Once he runs out he'll inform the investor that no one will back the idea with $40 million, but he just needs more time and another $100k to make it happen.
I followed this discussion and you summarized the whole case well.
I asked some questions in a similar direction, but he gave some lame answers, such as the one that the investor should not be interested in how the money is spent, if he will get back + interest. At the same time, most of the expenses he mentioned are unnecessary or overpaid, a pure waste of money. Of course, everything is much easier when you have investor money and not a bank loan for which you give guarantees like real estate or similar.
This is my theory, and this is why I feel a tag is justified. Change my mind?
I think the red tag is excessive here, it's more neutral. The scam didn't happen, and most likely it won't, because there are very few chances that they will find a retarded person who will give $150k without guarantees and without asking about the justification of spending the money.
Even if that happens, he will probably go to conferences and various consultative meetings, for which he asked for money. Whether it will be successful or not is another matter, and it is up to the investor to assess the reality of the project.