Sadly greed makes fools of us all, we all think we discovered the secret to the chocolate factory and don't want to be told otherwise. If people are promising returns better than warren Buffet has EVER had in his lifetime, I turn the other way and run.
It's really sad, but if you make the choice to throw your money into a fire, that's on you. Like you say, theres no point trying to reason with people, bes to let them find out the hard way.
I mean I am targetting 7%-15% for the year and I am going way out the risk curve to do it, and happy to fall short, and I do tonnes of research and then some one will come to me oh im getting 1% a day with some stupid ass ponzi schema and im just like gosh, this is going to hurt.
Funny thing is many of them could have gotten out early with an okay return but greed keeps them coming back until they lose it all or most of it, then they want to cry for legal and government help