| By
Gary Scott
Here is a large scam warning,
especially for your elderly friends.
Large Scam Warning #1:
The Nigerians are at it again
as evidenced by this letter from a reader. This should be a very large scam warning.
"I am so glad I decided
to research this ridiculous email I received from a woman in Africa. This is the
fourth letter I've received concerning investing money. And I just knew it had
to be a hoax. Besides it's too good to be true anyway. No one is going to turn
over millions of dollars to a complete stranger. Do these people in Africa think
that Americans are complete idiots?
The letter below is a mirror image of one of the SCAM letters listed on your website.
Thank you so much for informing the general population of the scams looming on
the internet. Sincerely,”
See the Large Scam Warning Letter below:
From: Didow Kouassi
Subject: request for investment.
From : MRS JENETH KOROMAH
Abidjan, Ctte dIvoire
West Africa
ATTN : MANAGING DIRECTOR ( C.E.O).
Dear Sir,
With due respect and humility I write you this letter which I believe you would
be of great assistance to me and my children. I am MRS JENETH KOROMAH, the wife
of the late Dr DAVID E. KOROMAH JR. of the blessed memory. Prior to my husband
assassination by the rebel forces loyal to CORPORAL FODAY SANKOH of the Revolutionary
United Front (RUF), He was the Director General National Gold and Diamond Mining
Corporation of Sierra-Leone.
Few days before my husband was assassinated instructed me and my children ( DIDOW
and HENRY ) to move out of Sierra-Leone and also to go in his underground strong
room where the documents of money he has deposited in a security company in Abidjan
Ctte dIvoire in one trunk Box as family valuables and treasures with the name
of my first son DIDOW as beneficiary. The amount is US$15.500 (Fifteen million
five hundred thousand United States Dollars. We managed to escape to Abidjan the
Republic of Ctte dIvoire through the help of my husbands friend who is a trawler.
As our traveling document was seized.
But due to the political problem here in Cote dIvoire on September year 2000,
I instructed the security company to transfer the box that contained the money
to Europe where they have branch office. Now the money is in Europe for safe-keeping.
I am now looking for a worthy and God fearing person who will handle this money
for rapid profit for the future of my two fatherless children.
For your information, the security
company did not know the real content of the box and we do not wish them to know
until the money is transferred to your account. As it was deposited as family
valuables and treasures.
Meanwhile, I want to leave Ctte dIvoire entirely for investment of this money
in your country and mostly for the future of my children. I want you to please
assist us to claim the box from the security company and also deposit the money
in a local account there
in your name and order the bank to transfer the money to your account in your
country. As our foreign partner.
We have it in mind to reward you with a certain percentage for your assistance.
As soon as we hear from you. Do not hesitate to call me on this line immediately
receive this letter to enable us proceed in Ernest toward retrieving the box and
transferring of the money into your account.
Finally, Please ensure that no
one else knows about this money as it is only myself my son, yourself and the
Rev. Pastor of the church where we worship knows about this money. May God bless
you as you assist me. Yours sincerely. MRS JENETH KOROMAH
Large Scam Warning Reply
My reply told a sad tale.
"Thank you for letting me
know. I am pleased we could help. Sadly this letter has netted the con artists
tens of millions of dollars so some North Americans are stupid. Actually greedy
is a better word."
Large Scam Warning #2:
Blatant scams like this are not
the ones that require your maximum care at this time as a Financial Times FT.com
warns in its article entitled "Con Men Adapt to Investor's New Caution"
that "as savvy US investors have swung their portfolios from stocks to bonds,
con artists have also adapted to the changing environment. Whereas they once fleeced
investors through stock schemes that flourished during the bull markets of the
1990s they have recently turned to seemingly conservative fixed income investments.
They sold bogus oil deals with
the oil and gas bubble in the 70s, moved to stock manipulation in the 80s and
have now shifted to fraudulent promissory notes.
Large Scam Warning on Safety
Investments
Swindlers market them as having
the safety of Treasury bonds with a bit of extra yield. Regulators warn that in
reality the notes are often risky securities issued by speculative companies that
could not borrow elsewhere.
In the three month period after
the stock market began to slide state regulators have brought 370 actions against
promissory note vendors responsible for more than $170 million in losses.
Remember that con artists will
always try to use some type of authority image to gain your confidence. They will
have a phony high sounding business name, will say they are a banker or government
official or often use religion to gain confidence (note the religious connotation
in the Nigerian scam letter above).
Large Scam Warning on Religion
and Prayer
Prosecutors stated that in a
recent Indiana case two insurance agents got on their knees to pray with elderly
victims before separating them from their retirement money.
Large Scam Warning #3:
Elderly beware.
Older folks are especially at
risk and another scam floating around now comes in the form of individuals claiming
to represent social security with the task of enforcing a new law that pays war
and or Holocaust repatriations (or some similar event). They claim to have to
check the individual's social security number as it appears that the elderly individual
has a valid claim. Once they have the social security number, they'll use this
to rip off the individual in a variety of ways.
There of course is no such law.
My friends beware! It is easy
enough to lose money with legitimate investments. With such cons there is no chance
at all except for a guaranteed loss and there are some really bad guys out there!
Until next message, good global
business and investing.
Gary Scott
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 Little
Horse Creek. |
