Accused swindler pleads not guilty in...

Accused swindler pleads not guilty in Ponzi scheme - Hawaii News

There are 11 comments on the Honolulu Star-Bulletin story from Jul 7, 2009, titled Accused swindler pleads not guilty in Ponzi scheme - Hawaii News. In it, Honolulu Star-Bulletin reports that:

Accused swindler David E. Ruskjer paid his investors more than $5 million, and anybody who loaned him money got exactly what they were promised, his lawyer, Michael Green, said yesterday in federal court.

Join the discussion below, or Read more at Honolulu Star-Bulletin.

StateTaxPayer

AOL

#1 Jul 7, 2009
If you are dumb enough to think someone else besides yourself can invest YOUR MONEY better than you can, you deserve to be relieve of that money. That's life.
aaa

Denver, CO

#2 Jul 7, 2009
Not sure why this is considered a Ponzi scheme ? He was actually doing what he told investors he would do...trade stock options. I thought a Ponzi scheme was when the person never made any attempt to invest the money and made payouts strickly on funds from new investors ?
Manoa Fisherman

Honolulu, HI

#3 Jul 7, 2009
Classic case of securities fraud.
Wacko

Wahiawa, HI

#4 Jul 7, 2009
Why did the judge let him post 50000 bond? Its such a minimal amount and is an insult to those affected. He should have been thrown into the slammer.

We don't need any more of these scammers running around the State.

All I can say is, he has the best attorney money can buy for representation.
Stop the Madness

Waipahu, HI

#5 Jul 7, 2009
I wouldn't accuse Green of being the best attorney money can buy. He is effective. Juries like him because he reminds them of the attorneys they see in the movies. Don't hate him because he has created a job for himself and is good at it.
Kahunakelly

AOL

#6 Jul 7, 2009
Greed prevails until presented with a banquet of consequences
suck em up

Honolulu, HI

#7 Jul 7, 2009
aaa wrote:
Not sure why this is considered a Ponzi scheme ? He was actually doing what he told investors he would do...trade stock options....and made payouts strickly on funds from new investors ?
The Ponzi "portion" of what he did was to pay original investors with new investor's monies. Had he not done this, he would report losses to the original investors--versus paying them with money (essentially falsifying the losses) that was not theirs.
Stumpy

Honolulu, HI

#8 Jul 7, 2009
Only greedy people can be scammed like this. Too bad for them.
Realist

Waianae, HI

#10 Jul 8, 2009
Did he really?
John Hayward

Pflugerville, TX

#11 Jul 9, 2009
Dave has been stealing from people all his life. He stole from employers and people he contracted his time with. He stole IP. Pure and simple a thief!
Stumpy

Honolulu, HI

#12 Jul 9, 2009
Why do judges let people that have stolen millions of dollars post low bail? It's not like they have a hard time coming up with bail money. It's more like a bad joke. This guy's bail should be 100 million, at least.

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