RE: LeoThread 2026-02-01 07-37

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In 1999 a client provided a file of all trades for replication; the analysis could not reproduce how consistent profits were being achieved with no link to any factor, no tails, and no clear drivers.

leofinance
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The client was warned that something seemed fishy—most likely money laundering by some entity—and advised to avoid that manager. Mafia involvement was suspected but not explicitly alleged.

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The client dismissed the warnings as "jealousy" and lack of skill, terminated the advisers, increased exposure to that manager, and ultimately lost everything in 2008 across that manager and other investments

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That may relate to the aphorism about spotting fraud and shouting "fraud". It was assumed necessary people were warned; this prompts the question of what obligation exists to publicly call fraud when it cannot actually be proven

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