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rockfordbuckeye
Oct. 4, 2009, 11:52 AM
http://www.freep.com/article/20091004/NEWS05/910040558/1001/rss01

Saw this in the news and am hoping no one here knows him.. :)

Equibrit
Oct. 4, 2009, 12:05 PM
http://dianaderosa.wordpress.com/2009/05/23/riches-to-rags-the-ron-davis-joe-zada-saga/

http://doversworld.com/blog/2009/07/zada-responds-sort-of/

http://www.zadaresponds.com/

http://www.chronicleforums.com/Forum/showthread.php?t=213578

He's been at it for a long time.

indyblue
Oct. 4, 2009, 07:02 PM
That all just made the most fascinating reading.What a made for tele movie.

Selleconn
Oct. 6, 2009, 10:12 PM
Very sad, but only worth commenting on since the horse world is so heavily based on the ability to "sell" (products, services, horses, self...). If this does end up being a complete scam, he could certainly be considered to have taken it to a new level within the horse community, but he is by no means alone.

poltroon
Oct. 7, 2009, 11:57 AM
I think what surprises me most about this whole story is how many people considered $100k a "relatively small sum of money".

SGray
Oct. 7, 2009, 02:25 PM
Very sad, but only worth commenting on since the horse world is so heavily based on the ability to "sell" (products, services, horses, self...). If this does end up being a complete scam, he could certainly be considered to have taken it to a new level within the horse community, but he is by no means alone.

but was he selling things that didn't belong to him?

quote from the article:

Like many who later dealt with Zada, Sam Smith's first transaction was profitable.


Around 1990, Zada found a show horse for Smith, who soon sold it for a tidy gain.


The following year, Smith paid Zada a $600 commission to find a horse for his 16-year-old daughter, Kristen.

The Smiths were happy with the deal -- until Fantasia was repossessed.


The horse's owner told Smith that Zada never turned over the $6,000 the Smiths gave Zada to buy the horse. "All of a sudden, this guy -- our buddy, our agent -- is the culprit," Smith said.


Zada still says Fantasia's owner stole the horse back.

Equibrit
Oct. 7, 2009, 07:45 PM
Can you say Ponzi ??

SGray
Oct. 8, 2009, 12:55 PM
Can you say Ponzi ??

How to spot a Ponzi Scheme:

"....began to invest money with their friend and were happy with the initial results. "He would say, 'If you give me $100,000 ... I'll give you $130,000 in 30 days,'"

Bogey2
Oct. 8, 2009, 08:12 PM
gee, where ARE those supporters who popped up a few months ago saying he was a nice guy and all was forgiven?

and I almost fogot...the person who said "consider the source" because it was on a BNT's website?

ridgeback
Oct. 8, 2009, 08:21 PM
gee, where ARE those supporters who popped up a few months ago saying he was a nice guy and all was forgiven?

and I almost fogot...the person who said "consider the source" because it was on a BNT's website?

Incorrect consider the source means the person who was making the claim and it wasn't Dover in that article if you can remember:) LOL

I again say when it sounds to good to be true it usually is. I hope everyone takes responsibility for their mistakes in this saga.

Bogey2
Oct. 8, 2009, 08:26 PM
so was the "source" correct then ridgeback?

ridgeback
Oct. 8, 2009, 08:32 PM
so was the "source" correct then ridgeback?

That source alone no but what has come to light since then I'd say Zada is in some trouble. Get rich quick schemes don't work and greed is not a good thing. JMO

Bogey2
Oct. 8, 2009, 08:43 PM
ummmmmmmm...ok. Is that a yes or a no? :lol:

Selleconn
Oct. 8, 2009, 09:35 PM
The situation is one that requires a fair amount of tongue biting. Abnormally high returns are obviously a red flag. They are also an indication that someone else will be paying a price of some sort, even if the deal is not dishonest. This notion is diametrically opposed to the typical gain of wealth as a professional in the horse business, where those paying the price are typically easily able to do so comfortably. This may explain some of the confusion and disillusionment.