URF ponzi ramped to minimize DRP

A ponzi scheme can be based on anything from ostrich eggs to herbal extracts. In the case of URF the ostensible asset is American slum housing. URF claims to pay its dividends out of rent collected from this high-yielding U.S. real estate, but in reality URF has paid dividends straight out of capital raisings. URF also offers a dividend reinvestment plan, ramping its share price to minimize the number of shares paid under the DRP.




Following the lead of the LIC securities fraud, URF has ramped its share price beyond NTA. ASIC and sundry shills alike as usual pretend this is not manipulation at all, but totally natural. It is just a coincidence all this market-abhorrent price action happens to benefit the scheme managers, just a big multimillion dollar coincidence at the expense of granny investors, and not ASIC's fault. 

URF has now announced a July 2013 DRP priced at $1.85, accomplished by the criminals ramping URF in a low-to-no-volume 'market'. Anyone issued shares at $1.85 is the victim of securities fraud supported by ASIC. All of these fraudulent schemes absolutely require ASIC sign-off before they can scam a single dollar from granny investors. And every single time ASIC is only too happy to comply.