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by Animats 2268 days ago
Reads like a typical Ponzi scheme that just collapsed.

If they were for real, they'd announce reduced revenue and show financial statements. Sure, they're experiencing some bad debt. But not 100%.
1 comments
trhway 2268 days ago
>a typical Ponzi scheme that just collapsed.

doesn't sound that way https://www.grupeer.com/why-grupeer

"Grupeer is different from other p2p investment platforms. We are creating a safe environment for our clients and offer three different investment types. Our primary objective is to bring high returns to our clients with minimal risk."

and on the same page below:

"Secondly, investments are secured with BuyBack Guarantee. This means that if the borrower goes bust, our partner- the loan originator is required to buyback the defaulted loan and insure the repayment of the principal and interest in full amount."

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TylerE 2268 days ago
> high returns to our clients with minimal risk

That's classic ponzi language.

Upside and risk go hand in hand. You can't sustainably produce one without the other, else everyone would be infinitely wealthy.

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trhway 2268 days ago
man, it is the reason i posted it. Sometimes people completely miss sarcasm :)
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godzillabrennus 2268 days ago
If I’m reading this right then the “loan originator” is both the recipient of the Capital AND the guarantor of the buyback if it goes south.

That’ll end well.

Looks like a brother system team that worked in construction and moved into lending:

https://www.revenue.land/grupeer-interview

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Animats 2267 days ago
That's always the problem with "guaranteed" loans. Who's the counterparty, how much money have they got, and how strong are your claims against them?

Trying to fund a guarantee with some clever trading strategy usually comes apart in the next downturn. See the history of "portfolio insurance".[1]

[1] https://en.wikipedia.org/wiki/Portfolio_insurance

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mdszy 2268 days ago
Wow it's almost like a Ponzi isn't going to straight up tell you "Hey guys, we're a Ponzi!"

They're going to do everything they can to weasel the language into making it sound like it isn't, when it really is.

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pkaye 2268 days ago
Is that why they are suspending payment? The BuyBack Guarantee?
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