Mike Baghdady - should I take a course or not?

[Digbyarbuthnot]

How is this for another dose of "Alice in Wonderland"

The Apprentice - Training Traders

Not only did Baghdady go to Australia and leave with unpaid bills and no sales he also promised to impose upon them the great "Apprentice" scam.

Its highly probable that if he had done to the Aussies what he did to those people in London - he might not have managed to get away with it for so long and Im certain he would have paid a very high price. I know a few Aussies and they don't take lightly to being cheated and ripped off.

Baghdady going to Australia? I guess they're a bunch of convicts over there so he probably wanted to feel at home in the penal colony!

Or is this a case of bombastic nationalistic stereotyping served up with a twist of irony?

Regardless, I'm more interested to see that Baghdady is trying to operate his Trade Planning sessions again. Irrespective of all the previous stuff about him, this raises a few more questions:
1. Does he really think that people have given up on exposing his crass lies?
2. Does he really think he can get away with it?
3. Does this mean that he is operating as a shadow director because he's not named as a director. This means that the creditors can still go after him for their money: What to investigate and how: Shadow directors: What is a shadow director?
4. With all the creditors after him, does this mean that he is now trading a business that is insolvent and with the intention of deceiving the creditors? This is illegal under Section 214 of the Insolvency Act 1986 as it's deemed Fraudulent Trading and could result in limitless fine & a 7yr prison sentence. This applies to all directors who were directors at the time that the fraudulent activity was occurring.

As well as Mike Baghdady sweating every time he closes the door and having fearful dreams of prison showers, it looks like Ben Tuckey and Malcolm Steel should expect a knock on the door from the authorities doesn't it?

 

[alphadude]

Maybe he is laying the ground for a change of countries

aussie land will be a fatal mistake for him

 

[pipsplease]

Question about the Turtles.

A question for all the well read and highly informed members of this forum.

As you are all aware, Mike Baghdady and Ben Tuckey set out to emulate the great Turtles trading experiment of the 1980's.

They advertised and got incredible free coverage in all media types for the proposed 10 turtle apprentices. They claimed that they received around 8,500 applicants. They then tested all of them and went through an interview process to bring the number down to a short list.
From that short list they selected around 20 - according to various statements made by Baghdady. (why 20 when they said 10 has never been explained).

Now, those selected came from a wide range of backgrounds and all had to give up jobs and careers - again according to statements made by Baghdady and from the PR stuff that was released again in various media outlets.

A pretty amazing thing for them to do to pursue the dream of becoming one of Baghdadys "Hedge Fund Managers" - again according to statements made by Baghdady.

We recently discovered that after at least seven months of trading with Baghdady and Tuckey they were not funded as claimed and following some questions possed on this forum - they were instructed to close all open positions.
The account money disappeared and they were then left in the dark.
All of the above is a matter of public record.
Now the question!!!!

Given what they had to give up to be there and the time they had spent on the trading floor, what would you think would have been the correct manner for Baghdady and Tuckey to inform the turtles that the trading experiment was over?????

Your considerd opinions would be appreciated.

 

[the hare]

Given what they had to give up to be there and the time they had spent on the trading floor, what would you think would have been the correct manner for Baghdady and Tuckey to inform the turtles that the trading experiment was over?????

Your considerd opinions would be appreciated.

I believe that they where told that the experiment would last for 3 years. I also believe that they where told that drawdowns in excess of 50% would lead to their termination. If that was the initial deal, then I can see no reason why that should change.

To be frank, if someone informed me that they'd tolerate a 50% drawdown before firing my ass, I give em a swift hoof in the plums, and I'd walk away without a second glance.

 

[wackypete2]

Given what they had to give up to be there and the time they had spent on the trading floor, what would you think would have been the correct manner for Baghdady and Tuckey to inform the turtles that the trading experiment was over?????

Your considerd opinions would be appreciated.

I'm not sure there is a reasonable answer to your question. There's really no proper way to tell them they'd been burned especially since in the face of doom they still came on here defending MacB and his program.

Peter

 

[alphadude]

One of the theories; is that he did tell them it is over; and that it is in their best interest to keep quite; so they can pursue a career somewhere else; without looking stupid.

if you put yourself in their shoes; would you come out and speak about being duped? and that you left your career for this guy.

Lord Sugar would be laughing at you all night.

 

[the hare]

One of the theories; is that he did tell them it is over; and that it is in their best interest to keep quite; so they can pursue a career somewhere else; without looking stupid.

Unfortunately, their names will be linked to this charade forever. Its possibly a heavy price to pay for stupidity and greed.

Would you employ any of them ?

 

[alphadude]

Unfortunately, their names will be linked to this charade forever. Its possibly a heavy price to pay for stupidity and greed.

Would you employ any of them ?

depends on the role i have available; and if they work for free

remember they worked for Mr B

 

[MoonRocket]

............
if you put yourself in their shoes; would you come out and speak about being duped? .........

I would definitely say a lot if I was never funded properly or found out it was some common garden variety "program" I was given to trade with.
Still ...he must have said something to stop them from coming out.

 

[alphadude]

I would definitely say a lot if I was never funded properly or found out it was some common garden variety "program" I was given to trade with.
Still ...he must have said something to stop them from coming out.

Mr B was known to threaten for legal action. He did that a lot in the forums; including t2w.

my guess he did threaten them to keep quite; especially they have signed something up front.

don't forget they are also partners in the company he setup for them; and the company is still standing.

The poor guys must have been liable now for some cost associated with the setup.

having paid money on top of getting duped; is ugly!!

 

[The Leopard]

Baghdady going to Australia? I guess they're a bunch of convicts over there so he probably wanted to feel at home in the penal colony!

Or is this a case of bombastic nationalistic stereotyping served up with a twist of irony?

Regardless, I'm more interested to see that Baghdady is trying to operate his Trade Planning sessions again. Irrespective of all the previous stuff about him, this raises a few more questions:
1. Does he really think that people have given up on exposing his crass lies?
2. Does he really think he can get away with it?
3. Does this mean that he is operating as a shadow director because he's not named as a director. This means that the creditors can still go after him for their money: What to investigate and how: Shadow directors: What is a shadow director?
4. With all the creditors after him, does this mean that he is now trading a business that is insolvent and with the intention of deceiving the creditors? This is illegal under Section 214 of the Insolvency Act 1986 as it's deemed Fraudulent Trading and could result in limitless fine & a 7yr prison sentence. This applies to all directors who were directors at the time that the fraudulent activity was occurring.

As well as Mike Baghdady sweating every time he closes the door and having fearful dreams of prison showers, it looks like Ben Tuckey and Malcolm Steel should expect a knock on the door from the authorities doesn't it?

You seem to have your finger on the pulse. Can we expect any more revelations? And what happened to TonyM? I liked his posts .

 

[The Leopard]

Mr B was known to threaten for legal action. He did that a lot in the forums; including t2w.

my guess he did threaten them to keep quite; especially they have signed something up front.

don't forget they are also partners in the company he setup for them; and the company is still standing.

The poor guys must have been liable now for some cost associated with the setup.

having paid money on top of getting duped; is ugly!!

My guess is Saghbooby has threatened them with some half-baked legal mumbo-jumbo if they spill the beans. The turtle heads themselves are probably embarrassed at being made fools of in public and desperate just to get on with their lives.

Meanwhile, Mahmoud Slackhbladdery and Malcom Ballsofsteelbutminiaturec0ckofjelly are probably lying low, waiting for this to blow over before setting up again.

Let's face it - there are chumps out there. These chumps have money. Therefore these chumps need scammers to take their money. They'll find some guru to give it to, of that you can be sure.

 

[the hare]

My guess is Saghbooby has threatened them with some half-baked legal mumbo-jumbo if they spill the beans.

Well they where dumb enough to fall for a rather blatent scam in the first place, so they are probably dumb enough to believe he'd be able to enforce an NDA.

Its a pity really, because the lulz from the fallout would be first rate.

 

[ChocolateDigestive]

Well they where dumb enough to fall for a rather blatent scam in the first place, so they are probably dumb enough to believe he'd be able to enforce an NDA.

Its a pity really, because the lulz from the fallout would be first rate.

it is a real pity because I would have loved to hear about their strategies, instruments and execution, it would have been comedy gold. could have been up there with the prop trading bucketshop account.

 

[The Leopard]

Well they where dumb enough to fall for a rather blatent scam in the first place, so they are probably dumb enough to believe he'd be able to enforce an NDA.

Its a pity really, because the lulz from the fallout would be first rate.

Their critical faculties certainly weren't firing on all cylinders . Or any cylinders, come to that.

But let us be charitable. Maybe they don't believe that Mike Droophc0cky's legal cosh is anything more than an over-ripe banana, incapable of damaging anything. Perhaps they just want to go away and forget the whole tragic, hilarious business.

Some might say that the ethical thing to do would be to come here to discuss the aftermath as readily as they did when they insisted the scheme was hunky dory.

That, I fear, is expecting too much in these latter days.

 

[alphadude]

Their critical faculties certainly weren't firing on all cylinders . Or any cylinders, come to that.

But let us be charitable. Maybe they don't believe that Mike Droophc0cky's legal cosh is anything more than an over-ripe banana, incapable of damaging anything. Perhaps they just want to go away and forget the whole tragic, hilarious business.

Some might say that the ethical thing to do would be to come here to discuss the aftermath as readily as they did when they insisted the scheme was hunky dory.

That, I fear, is expecting too much in these latter days.

Their lives have changed forever. they are laughing stock from now on

am worried they could harm themselves

 

[The Leopard]

Their lives have changed forever. they are laughing stock from now on

am worried they could harm themselves

What do you mean? Are you saying that you think they are a bunch of self-abusers?

 

[the hare]

Some might say that the ethical thing to do would be to come here to discuss the aftermath as readily as they did when they insisted the scheme was hunky dory.

Sadly, I fear that they've learned absolutely nothing from the experience. An apology to those they mislead might be the first step on the road to redemption.

Providing a warning to others would at least result in some good coming from the situation.

There's a few forum owners / employees / moderators who might also want to be taking a long hard look in the mirror and questioning their own personal morality in promoting this charade.

 

[scose-no-doubt]

apology

 

[alphadude]

Sadly, I fear that they've learned absolutely nothing from the experience. An apology to those they mislead might be the first step on the road to redemption.

Providing a warning to others would at least result in some good coming from the situation.

There's a few forum owners / employees / moderators who might also want to be taking a long hard look in the mirror and questioning their own personal morality in promoting this charade.

The have to unlearn everything