An LLC's corporate veil protects you from personal liability, but only if you follow the rules. When operators ignore formalities, they expose themselves to criminal charges and asset seizure, as happened in a Ponzi scheme the speaker uncovered.
So again, no taking shortcuts, follow the rules. And so Trevor, we're talking about the importance of LLCs and when you have an LLC to never ever pierce that corporate veil. And we're talking about a whole other something I discovered in a whole Ponzi scheme that's happening and some illegal activity. And anyway, through the whole thing, who knows what direction we're going to go, whether it's pressing criminal charges, whatever. But the point is that they pierced the corporate veil by doing some really stupid stuff. And because of that, they now have exposed themselves, which now gives us the ability to literally press criminal charges and go after them and the assets and all the things.
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