| By
Gary Scott
Scam protection issues are vital
to every business. I have witnessed hundreds of scams during the past thirty years.
Each business that lost did so because they had not dealt with their scam protection
issues.
One remarkable fact is that the
issues of scam protection were such that even when potential suckers were told
how they will be robbed, they still lost! Protect yourself by reading the scam
protection issues in the story below which explains why people get caught in cons.
Here are two letters I received
after writing about scam protection issues.
Scam protection issues #1: "
Gary, I have made MORE than 10% per month over the course of a year in some of
these investment clubs and have been paid! Is it possible that some of them are
legit? Thanks for keeping us informed. Bob"
Scam protection issues #2: About
your Scam alert that you send us, even if you don't seen to believe it, is it
possible that some investments could give this kind of returns (between 10 and
30 % a month)?
I have a friend that is telling
me that he is making an average of about 15% a month (I saw several checks). Confident
of these returns, the same friend is been tempted to invest in another club (diversifying
is his goal) who offers 20.5% a month. By the way, I am not sure where this club
is from."
Here is my reply about these
scam protection issues to both these letters:
I have so many scam stories that
I cannot give them all to you.
Let me be clear. Most of these
clubs and similar programs are Ponzi schemes. The con artists operating them pay
out money coming in from new investors to existing investors. The pay our is their
form of advertising! This works for awhile until the bubble bursts. The con artists
want to give you checks so you will talk to others about your huge profits. Your
friend may have received some checks. He may receive some more. If he is lucky
he may even get his money back before the thing collapses, but collapse it will.
Here is my first scam protection
issues story which took place when I was working and living in Hong Kong. Two
guys came into town allegedly experts in trading commodities. They promised to
make 15% to 20% per month for their clients. They did-for awhile. One of my clients
(his name was Dwight) invested and nothing I could say would convince him that
these guys could not make that kind of profit again and again for a large group
of investors.
Finally the Hong Kong fraud squad
investigated and investors became nervous. Dwight and a friend of his both asked
for their money back. Both received a check. They rushed to the bank and deposited
them. Dwight's friend's check went through. Dwight's check bounced. The two promoters
had fled and hundreds of investors lost millions.
New con artists come along almost
every day offering huge returns. Sometimes they are experts in commodities, other
times industrial wine (doesn't exist) other times discount groceries, etc. A few
investors get in and make huge returns. Many investors jump in and all make a
bunch for just a while. The second the deal slows down or is investigated, it
collapses leaving millions short.
Investors beware!
Scams - scams - scams. The internet
has become one of the favorite vehicles for con artists. You must beware of scam
protection issues and protect you business. This website has a board of experienced
advisors, ethical attorneys, bankers and businessmen who can help you spot and
avoid scams.
Gary
My novel the 65th Octave looks
at scam protection issues. The hero is a scam catching expert who works for big
banks. The book outlines why scams work and why suckers always lose. I recommend
you read the book. It has some in depth economic information but is also a fast
paced, fun read.
Order the 65th Octave at GaryScott.com
Sometimes one picture is worth
a thousand words
To avoid scams balance
yourself in nature like this cabin at Gary and Merri Scott's Merrily
Farm where you are welcome to visit and stay at Little
Horse Creek |
