A new crowdfunding platform has been launched for whales, but not for the benefit of some soon-to-be-extinct species which swim in the world’s oceans, but the whales who are defined as such by Las Vegas casinos. It is the high rollers, the persons who can gamble very large sums of money, which Lords Of Fortune hopes to attract.
When the JOBS Act Title II became effective in September 2013, general solicitation advertising in order to acquire investment from “accredited investors” for all sorts of investments was legalized. This change in the law resulted in the proliferation of investment websites to take advantage of this new way of raising money. Numerous crowdfunding websites which focus on accredited investors advertise investment opportunities in everything from real estate to emerging technology companies, to restaurants and clothing manufacturers.
All of these investments are, of course, risky; hence they are only available to high net-worth, high income individuals who, like Vegas high-rollers, can afford a potential substantial loss. The LordsOfFortune website is different from the other crowdfunding sites in that they are focusing on extreme risk investments with, potentially, the corresponding very high returns, and they do so unabashedly promoting, initially, what are perhaps the highest risk investments, shipwreck treasure recoveries.
Managing Member of the Lords Of Fortune Company, Martin Bayerle stated, “Our flagship investment opportunity is the recovery of what may be the largest shipwreck treasure recovery of all time, a cargo known as The Tsar’s Treasure, tons of gold believed to be aboard the sunken White Star Liner RMS Republic, the gold destined for Tsarist Russian battleships then at Gibraltar.”
The White Star Liner RMS Republic, known as the “millionaires’ ship” at the time because of all the wealthy passengers who preferred to travel by her, sank in January, 1909. Rumors circulated at the time that she sank with a very valuable cargo. Mystery followed. At 585 feet and close to 16,000 tons, the Republic was the largest ship to sink to her time, succeeded in that ignominious title by the loss of another White Star Liner, RMS Titanic, just three years later.
Bayerle then added, “My research is available in my book The Tsar’s Treasure, for critical examination. Yes, there is risk, but we believe the research is conclusive in establishing the existence of at least two very valuable cargoes aboard the shipwreck with an estimated value well in excess of $1 billion.. We believe our odds are better, our potential payoffs higher, and our play-action much longer, more fun and exciting than anything “whales” can find anywhere else.”
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