I Have a Very Basic Question (Is This a Ponzi Scheme?)

kubrickfilmfan73
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I have a very basic question
« Thread Started Yesterday at 9:52am »
In light of LC’s new law school, med school, film school, divinity school, $10M “Green Acres” film, and God knows what other multi-million dollar projects are in the pipeline, could financial donors call them all a big Ponzi scheme if these things don’t materialize–and if so, what is the likelihood that state and federal authorities, up to and including the IRS, might actually launch an investigation? 

In short, is this a Ponzi scheme: yes or no?

« Last Edit: Yesterday at 1:49pm by kubrickfilmfan73 » Link to Post – Back to Top IP: Logged
jericho
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Re: I have a very basic question
« Reply #1 Yesterday at 10:02am »
That’s a great question that someone should be asking. After all, the people who have either donated or pledged to donate did so based on a time-table that the college has given out in the media. When little has really been done on any of these proposals, could a donor potentially not consider this a breach of good faith and trust with the college and take them to court based on that. Add in the fact that money has gone more to inflate the salaries of administration officials and to me you potentially are looking close to the definition of a Ponzi scheme.

Wouldn’t it be something if someone decided to test that out in the courts? At least get the college to open up and declare just exactly how much money they have garnered through donations (no more anonymous donors) and where the money is exactly going….

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southerner
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Re: I have a very basic question
« Reply #2 Yesterday at 10:06am »
Most colleges raise half the money for a said project before it is announced. But of course this isn’t your average college.

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jericho
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Re: I have a very basic question
« Reply #3 Yesterday at 12:34pm »
It does make you wonder if some donors; particularly the long time donors; would be willing to speak out about the college’s fundraising process and how they are approached by the college. How does the college persue certain donors and what type of promises are made?

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johntanner
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Re: I have a very basic question
« Reply #4 Yesterday at 10:00pm »
sort of like the ptl club all over again

Yesterday at 10:02am, jericho wrote:

That’s a great question that someone should be asking. After all, the people who have either donated or pledged to donate did so based on a time-table that the college has given out in the media. When little has really been done on any of these proposals, could a donor potentially not consider this a breach of good faith and trust with the college and take them to court based on that. Add in the fact that money has gone more to inflate the salaries of administration officials and to me you potentially are looking close to the definition of a Ponzi scheme. Wouldn’t it be something if someone decided to test that out in the courts? At least get the college to open up and declare just exactly how much money they have garnered through donations (no more anonymous donors) and where the money is exactly going….
« Last Edit: Yesterday at 10:01pm by johntanner »

 

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