| By
Gary Scott
Lets call this the Art of the
Steal.
Many offers of overseas structures
are scams. Here's how to avoid getting caught by con artist art
Many offers of overseas structures
are scams created as part of the Con Artist Art. Here's how to avoid getting caught.
Con Artist Art Enquiries
We receive a large number of
inquiries about how and whether to set up overseas structures. Questions are about
IBCs, LLCs, overseas trusts, contractual trusts and constitutional trusts, etc.
to reduce tax or gain asset protection and privacy.
Regretfully many of the offers
we are asked about are rip offs. There are so many questions that the temptation
has been to create a form letter in reply. Yet this has not been done because
every person's needs vary dramatically.
The scam artists are really promoting
structures such as constitutional trusts, etc., big time right now. There is a
special con artist art in these deals and these structures are often expensive,
yet they do not work and can get those who use them into serious (even criminal)
trouble. These cons have become a big business because taxes are unfair and high,
government intrusiveness grows and legal complications so great. Also the laws
relating to all are so complex it is easy to dupe the average investor. This is
where the con artist art works best.
Having been in the overseas corporate
and trust formation business for more than a decade- I have a pretty good grasp
of this situation and promise you that many of the structures now touted do not
work. Even those that do, do not apply for most investors. The costs and complications
are simply too high for the benefits received.
The purpose of this message is
to remind you that you should never buy a "one structure fits all" program
from a promoter. If you are going to use any structure beyond an overseas bank
account, you should always employ an attorney or CPA from your jurisdiction that
is experienced in overseas structures to help you set up and maintain compliance
of the structure.
Con Artist Art Protection
One way to protect yourself from
con artist art that operate in this area is to read the book "Art
of the Steal". This was written by Frank Abagnale, a former con artist
who spent four years in jail after bouncing more than 2.5 million in bad checks
in one year.
He had masqueraded as a Pan Am
pilot, as a pediatrician and professor in his previous (ahem) career so he knows
what he's writing about in this book that details scams that are waiting to happen
to unsuspecting citizens. He knows con artist art at its best.
Until next message, good global
business and investing!
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. |
