Woman Sentenced To 20 Years For Ponzi Scheme Young People Hurt In New York California Earthquake | The Millionaire Morning Show w/ Anton Daniels

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Summary

➡ The Millionaire Morning Show w/ Anton Daniels talks about how a woman in South Florida has been sentenced to 20 years in prison for leading a $200 million Ponzi scheme that tricked many investors. The former CEO of MJ Capital Funding LLC, Joanna Garcia, admitted her guilt. The scheme, which lasted from October 2020 to August 2021, involved using new investors’ money to pay off previous investors while stealing millions for herself. One of the victims shared his experience, highlighting the importance of managing your own money and learning from successful people.

➡ A powerful 7.0 earthquake hit northern California, causing a brief tsunami warning and leading to evacuation orders in several cities. Although the quake didn’t cause significant damage or injuries, it did result in some cleanup efforts and power outages. This area, where three tectonic plates meet, is known for frequent large quakes. Despite the risks, people continue to live in California, often due to the favorable weather.

 

Transcript

It’s a woman is sentenced to 20 years in prison for the woman for a $200 million Ponzi scheme. Check it out. Tonight, a South Florida woman was sentenced to 20 years in prison for leading a nearly $200 million Ponzi scheme that defrauded several investors. Nico Clemens is live in Miami tonight. And Nico, you spoke with one of those victims. And he was in court today when the judge sentenced the woman. You too. Look, he said he’s moved on, but make no mistake. He says he was angry because this was his money. Thousands of dollars. And he’s accepted that he won’t get most of it back.

Everything was good until it was ugly. He trusted her. And I was blindsided. And I was devastated. I was crying. I was sad. I realized, what am I going to do? More than three years later, Stephen Shulman watched the judge sentence Joanna Garcia to 20 years in prison. Garcia, the former CEO of MJ Capital Funding LLC, pled guilty for her role in a nearly $200 million Ponzi scheme that defrauded several investors. A Ponzi scheme often starts when a person offers to invest your money and you, the investor, are promised a consistent high return. Shulman was one of those investors.

They researched her and she came on to me with her story and her background. She was called Mother Teresa. Prosecutors say the scheme lasted from October 2020 through August 2021. They say the company didn’t earn the profits it needed to pay investors back. So Garcia used the money raised to pay off previous investors while stealing millions of dollars for her own personal benefit. And that’s how the Ponzi scheme starts. Most people that get involved in Ponzi schemes, they didn’t go into it looking to do a Ponzi scheme. That’s the misconception. A lot of people think that people that get into Ponzi schemes, that they go into it thinking that they was going to do it.

No, they get into it leveraging the capital to do exactly what they said that they was going to do, which is to make you money, but also on top of that to make themselves money. So think about it like this. Think about a person that is overly confident and what they think is going to happen. And so what they do is they want to make a whole lot more money. So then they take a group of people’s money in order to make more money. And then they promise you high returns. Well, guess what happens when they don’t get those high returns, then they start robbing Peter to pay Paul hoping that they can get the money back by making even greater, more riskier investments, which is dumb.

And then it turns into a Ponzi scheme. So now you borrowing from this person to maintain a lifestyle and then also on top of that, trying to get that return money back. And it turns into robbing Peter to pay Paul until it’s too big. And then it all blows up. Now you in prison and all of that, right? But I don’t believe. And this is just me personally. I don’t care if you’re an institutional investor. I don’t care who you are. And I know that it’s other people out here that start these funds and all of that stuff.

And that’s one of the ways that some people are successful at it and they get really rich. I believe and I’ve always rocked out with this philosophy. It’s called minding your own business. So what we do, for example, over in the Patreon is we just share our experiences. We put our own money up. We share our experiences and then you make an informed decision on what you want to invest in. Nobody is going to do it for you. You have to manage your own money. All we do is we share what our success stories are. And then I tell you what the pitfalls and obstacles are by giving you my own life experience.

And then see, that’s why I always say when people say stuff like anybody can give advice, anybody can tell you what their story is. Yeah, but I’m not really sure that you want to take advice from anybody. And that’s why it’s important to show your receipts. Showing your receipts give you more credibility and it shows that you are a person that’s worthy of taking advice from. Yeah, anybody can give their opinion and anybody can give their advice. But very few people can actually give you a recipe for success. Anybody can throw a hat in the ring, they can give their opinion, they can grab a microphone, they can start a podcast.

But who’s qualified? And I don’t care if we’re talking about relationships, money, politics, whatever. Who’s qualified to actually tell you how you’re supposed to live your life because you only have one opportunity. So if I’m a person looking for advice, why would I just want to take advice from anybody instead of taking advice from the person that’s willing to show me the receipts? Again, I think it’s more important to mind your business. Meaning that if it’s that meaningful to you, then invest in it with your own money, put your own money up and put your own risk in.

Don’t take a bunch of other people’s money and think that you’re going to do something. Then promise these returns, then you get in a 20 year Ponzi scheme sentence. So that’s my advice. And that’s why I think that I have the most successful Patreon on the platform itself. In addition to that, New York City stabbing one person injured, one person dead. One of them is a teen in Manhattan. Check it out. But we’re going to begin tonight with breaking news and more violence in Manhattan. Two teenagers stabbed. One of them is dead. It happened just north of Wall Street, just steps away from a Pace University dorm.

I would assume the part of Sonya Ringkorn live on the scene with the breaking details tonight for us, Sonya. Bill, that 17 year old boy was pronounced dead at a hospital after being stabbed here on John Street just after 7 30 this evening. He was stabbed in the chest. An 18 year old is recovering after being stabbed in the arm. Some people, Jeremy says this applies to people who failed and want you to learn from their mistakes, too. I don’t agree with that. I don’t agree with that. Listen, I don’t think that a person has failed and want somebody to learn from their mistakes before they then become successful is qualified to then give it give advice.

I believe that you have to fail, recover, still be successful before you still qualified to be able to give advice. Now, giving an opinion is much different than giving advice. But listen, just because you failed, they don’t mean nothing to me. How can you tell me how to be successful if you’ve never been successful? That’s the thing that I want to see. OK, you get more points on the board if you failed, recovered and then came back in one. I want to hear from that person. Listen, enough of this. Don’t tell me. Don’t enough of this.

I’m going to tell you what not to do because I made a mistake. No, no, no, no, no, no, no, no, no, no. I want to hear people. I want to hear from people that either got it and I really want to hear from people that had it, lost it and got it again. Or you failed and you overcame. I don’t want to hear nothing from somebody that just continuously failed. And then it’s coming there and talking about, listen, let me tell you what I did wrong. No, no, no, no, no, I’m good. I’m good. Give me the winner that was the loser at some point that figured out how to overcome losing in one.

That’s the person I want to hear from. Well, ours Pace University is right here. In fact, one pace student who was leaving the dining hall walked right into the crime scene just seeing a bloody pair of pliers and a blood covered sharp stick, sharp stick in the street, which may have been murder weapons. All the cops are like coming down John Street from Broadway. There’s a lot of commotion. They started yelling for us to get out of the way. And I guess somebody got stabbed with either pliers or with a wooden stick. It was pretty chaotic.

I got a lot of videos of it, like cops were pushing people out of the way, trying to secure the scene. And there was a lot of blood. There was a big trail across different parts of John Street. Right now the NYPD’s crime scene unit is parked right in front of that Pace University dorm. Again, the victim who died was only 17 years old. We don’t know if he was a Pace student. No word on who this young man was or why he was attacked. But he becomes the fourth homicide victim in the NYPD’s first precinct this year.

Last year there were none. We always can count on the culture to mess up some stuff. And I don’t even know if this person was a black person because I want you all to understand when I said a culture, I’m talking about trash culture, not necessarily black culture. All right. And then last but not least, there was an earthquake, 7.0 earthquake that rattled California and it triggered a tsunami alert. Check it out. This morning, the cleanup is underway after a 7.0 earthquake jolted northern California. The large trembler, which struck just before 11 Thursday morning off the coast of Humboldt County, contained a brief tsunami warning for hundreds of miles of coastline from California’s Bay Area to southern Oregon.

It feels like a warning, but it’s still scary getting that notification. Cities including Berkeley, Half Moon Bay, and Crescent City issuing immediate evacuation orders, this man heading to high ground from his home in Stinson Beach. The probability is low, but I have no reason to take a risk of dealing with a big tsunami. Within a few hours, the warnings lifted, but experts say it was a necessary precaution. The fault is moving the seafloor, and if it moves vertically and displaces a lot of water, it can generate a tsunami. The quake’s motion turned out to be mostly horizontal, so it didn’t move much water and didn’t cause any significant damage or injuries.

But those closest to the epicenter in Humboldt County had some cleaning up to do, with bottles and other items flying off shelves at this grocery store in Garberville and at this historic hotel in Ferndale, a door shaken off its hinges. Across the state in Chico, the quake making waves in this swimming pool. This is a big one, guys. Governor Gavin Newsom declaring a state of emergency for the area. It’s another reminder of the state that we live in and the state of mind that we need to bring to our day-to-day reality here in the state of California in terms of being prepared for earthquakes.

The quake comes nearly two years to the day after a 6.4 struck the same area in Humboldt County. Two died, and several buildings were damaged in that one. This time, many here thankful it wasn’t worse. Everybody talked to, you know, they were shaken up but not hurt. So it’s a tight-knit community. So everybody’s helping each other pick up and clean up, and on we go. Now, here in Humboldt County, there’s been some reports of power outages and a couple homes knocked off their foundation. There’s also been several aftershocks. We felt when some 60 reported so far, experts say this part of northern California where three tectonic plates meet has more magnitude seven quakes than anywhere else in the state.

I think that California at some point is going to fall off the face of the earth. It seemed like there’s just so many bad things that just happened. I don’t know why people continue to live in California. Oh, yeah, I do. Because of the weather, right? Everything else can go wrong in your life except for weather. You could be homeless, but as long as you got that sun in your face, because it never rains in southern California, as long as you got that sun in your face, you good. [tr:trw].

See more of The Millionaire Morning Show w/ Anton Daniels on their Public Channel and the MPN The Millionaire Morning Show w/ Anton Daniels channel.

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