Life Coaches Ran 20 Million Dollar Ponzi Scheme/fraud

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WhatInThe

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A couple of life coaches apparently ran a 20 million dollar ponzi scheme. They are blaming it on convicted infomercial king Kevin Trudeau. Included in the school or cirriculum was "investing".

http://www.thedailybeast.com/articles/2016/01/26/life-coaches-ran-20m-ponzi-scheme.html

Never understood this 'life coach' thing. I can see the various specialties but even someone has some spare cash if one has to or wants to be coached how to live their life??? In some respects they are taking advantage but a 'life coach'-seriously?
 

I don't see some of these instances of life coaching all that much different than those who line the pockets of "some" these enormous churches where some go to seek guidance, council, comfort or soul searching.
 
Never trust a man with a soul patch.

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I think that, as with all scams, this one has multiple guilty parties. You have your Ponzi runners, and you have your marks, or "victims". But if those victims had used a little common sense, not been greedy and thought about what life coaching really is, they wouldn't have been taken in.

Real life coaching, from my research on it years ago, is almost akin to being a therapist - a therapist specializing in pointing out the holes in your life and showing you how they can be fixed. Not through pyramid schemes or investing in shadow companies, but by good old fashioned self-realization and hard work.
 

AprilT said:
I don't see some of these instances of life coaching all that much different than those who line the pockets of "some" these enormous churches where some go to seek guidance, council, comfort or soul searching.
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They are no different. And both in some respects are taking advantage of people that are naive in their search for what ever. As phil pointed out maybe these life coaching victims needed some counseling or a sit down with their local religious 'expert'. I can see hiring or finding someone for spiritual guidance. I can see hiring a specialist like a trainer or accountant but hiring someone to be all encompassing on what in reality is the customer's or 'victims' responsibility since they are the only ones that really know what they are seeking.
 
AprilT said:
:laugh: I had to look that up. Nothing soulful about that thing, but the man is kind of cute, I'll trust him for a, nevermind.
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Yeah, yeah, I know, he's a hottie. :rolleyes:

Just keep an eye on your pocketbook while you two are out skipping among the daisies.

As your life coach, I would advise you to look beyond the physical - look into his soul. Test his humanity. Ask him what he feels.

That'll be $75, please. See you next week?
 
SifuPhil said:
Yeah, yeah, I know, he's a hottie. :rolleyes:

Just keep an eye on your pocketbook while you two are out skipping among the daisies.

As your life coach, I would advise you to look beyond the physical - look into his soul. Test his humanity. Ask him what he feels.

That'll be $75, please. See you next week?
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I'm not interested in his soul, his mind or anything else of that nature, frankly, I'd rather he not speak at all. I'm a tightwad no worries about him getting any monies from me.
 
A hustler is a hustler..nice suit and all. Life coach sounds ridiculous..I imagine some guy in sweats and a whistle yelling.."ok , breathe..ya gotta breathe."
 
Karen99 said:
A hustler is a hustler..nice suit and all. Life coach sounds ridiculous..I imagine some guy in sweats and a whistle yelling.."ok , breathe..ya gotta breathe."
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I get the visual, but if done properly it's a lot more than that. Unfortunately it was one of those things that started off with the best of intentions, but was quickly main-streamed into the huxster world.

Sorta like the televangelists ...
 
SifuPhil said:
I get the visual, but if done properly it's a lot more than that. Unfortunately it was one of those things that started off with the best of intentions, but was quickly main-streamed into the huxster world.

Sorta like the televangelists ...
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yes...then when people find out what frauds they really are..people feel angry and betrayed and anything good is down the drain. I'm sure a Life Coach should mean a person trained to hold a mirror up to your life and help you see what's missing and then offer guidance..as you mentioned.
 
Karen99 said:
yes...then when people find out what frauds they really are..people feel angry and betrayed and anything good is down the drain. I'm sure a Life Coach should mean a person trained to hold a mirror up to your life and help you see what's missing and then offer guidance..as you mentioned.
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Exactly.
 
My coaching is reserved for the couch with soft music and dimmed lights...
 

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