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Is my friend's workplace a front for money laundering? Should he leave?

dos poptarts

By dos poptarts,
in Huddle Lounge

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dos poptarts Newbie

dos poptarts

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Friend of mine has been working part-time at this engineering firm for 8 months. He completed his 2 year drafting/mech design degree last year and does nothing all day.

 

~35 person firm. He does get some work occasionally and does load bearing calculations. But 80% of his time is sitting doing nothing. (just like the rest of the grunts) He just sits in a cubicle and internet/texts all day. Even the receptionist will laugh and say not a single call or visitor for an entire week.

 

Told him when he started that it may just be slow and they are expecting it to get real busy. But they continue to hire people to sit in cubicles. Even hiring a few managers to manage TWO employees each.  The new hires ask how long it's been this slow and he tells them the truth, since he's been employed there. They ask how can he stand this...

 

He's torn, easy job, easy paycheck, but not really getting experience to move onto a better situation. I told him to leave before apathy sets in and he's still hungry to work. And before the FBI comes knocking. I can't see how this business continues to bring in enough revenue (legally) when all of the workers don't have any work to do. I joke that if he sees laser tag equipment or car wash coupons he'll have his answer.

 

 

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dos poptarts Newbie

dos poptarts

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Not money laundering more like Ponzi scheme if they breaking the law.

 

How does a Ponzi work in this environment. Bilking investors? how do you keep bringing them in?

 

......

I'm beginning to wonder if the firm needs a certain headcount number to bid for certain jobs. Never worked at a small firm so not sure if that is ever comes into play.

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Ja Rhule Grand Master

Ja Rhule

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How does a Ponzi work in this environment. Bilking investors? how do you keep bringing them in?

 

......

I'm beginning to wonder if the firm needs a certain headcount number to bid for certain jobs. Never worked at a small firm so not sure if that is ever comes into play.

 

 

You lie to investors to get their money.  You want to show em promise...  Hiring employees means you expect your business to grow.  Growing business means more return on investment.  People are greedy.  If you got 5,000,000 saved up on your bank account and some business owner comes to you and tell you that he got these new designed bikes which will be the new thing and everyone will want one, all this business owner need is your 5,000,000 and he guarantees you will get 20% return on investment a year!  Aka $1,000,000 easy money.  So you give your $5 million to this businessman, he starts selling these bikes and a year later he pays you $1 million as promised.  Now all of the sudden everyone else wants to make 20% return on investment.  People give this business owner all their life savings... this business owner hires more people to show that company is growing but in reality this businessman maybe sold $10k worth bikes a year.  See, the original guy that gave him $5,000,000 actually got his own million back.  Other people see this investment opportunity and give this businessman money... First few investors can actually profit in Ponzi scheme but latecomers will lose all their lifesaving. If Ponzi scheme last 7 years.  Original guy will leave Ponzi scheme with $7 million but if newcomer invested $20m... he will lose it all. This called Ponzi scheme... you trick investors into think your company is profitable but in reality it is not. You take their life savings and you spend it on yourself living a nice couple of years.  Usually Ponzi Schemes can last up to 5-15 years.  Some don't even last 2 years.     

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