So what do you think of this story?
The sad part of this story is that his parents are short of 120K and have lost all of their savings, the equity in their property and their future ability to secure credit. It's an ever so common story.
What can we do to avoid the same trap?
Don't be so bloody naive! Handing over 15K to some adolescent spouting a load of bullsh1t about starting a Jetstream 31 operation in the middle of the biggest global recession imaginable is plain stupid! The fact that his initial start up had went tits up after only 6 weeks, combined with Varsity being nothing more than a business plan should have had alarm bells ringing. Solid credentials my ass! It of course doesn't condone the fact that the guy was conned; that was deplorable. However don't be lacking in basic judgement. I'm not trying to harsh or getting any satisfaction by maybe appearing to rub his nose in it, but a little common sense shouldn't be that hard to find. Even the fact that he has applied to Ryanair knowing that he can't afford it.........WHY, WHY, WHY?