PZ99
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Whoa! Darn 'em - glad my ip didn't go in their databases
How to identify an investment scam
- Thread starter Joe Blow
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An excellent advertisement for this site Joe !
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What is that old saying about, if it sounds too good to be true?
Garpal Gumnut
Ross Island Hotel
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When the CEO who started off peddling AMP Insurance policies from a run down office buys his own Executive Jet.
gg
gg
Value Collector
Have courage, and be kind.
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I generally can recognize I scam within 30 secs of reading about it, but I find it crazy that my friends and family can’t, and I get emails and face books messages from them asking if I think these things are good investments.
I recently had a “cousin in-law” (if that’s a thing), ask me if the bit coin scam mentioned above was a good investment.
This was my reply.
“Looks like a scam to me.
I have seen these sorts of scams a million times offering automated trading platforms that promise big returns.
They have made the article appear to be reporting on a family that was interviewed on tv, but I bet that interview never happened.
The are using bitcoin as medium of the trading platform, because a lot of people have heard of bitcoin, but in the past I have seen similar scams marketed saying they will trade shares, currencies, commodities, options, horse racing bets etc etc.
But in reality it’s a ponzie scheme.”
I recently had a “cousin in-law” (if that’s a thing), ask me if the bit coin scam mentioned above was a good investment.
This was my reply.
“Looks like a scam to me.
I have seen these sorts of scams a million times offering automated trading platforms that promise big returns.
They have made the article appear to be reporting on a family that was interviewed on tv, but I bet that interview never happened.
The are using bitcoin as medium of the trading platform, because a lot of people have heard of bitcoin, but in the past I have seen similar scams marketed saying they will trade shares, currencies, commodities, options, horse racing bets etc etc.
But in reality it’s a ponzie scheme.”
tinhat
Pocket Calculator Operator
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Hi sn, I'm interested to hear of your opinion that 1% of fb are not scams. How do you identify those 1% of fb that are not scams?
tinhat
Pocket Calculator Operator
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Hi snilson. Thanks for your response. Do you have any particular approaches to fundamental or technical or esoteric analysis or systems that you use?
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Excellent stories in The Guardian on an international scam coming from Ukraine.
The scammers have now brought all the operations under one umbrella They start with the simple "you beaut" crypyo currency investment scam.
They then move onto "Your investment has just gone up 1000% but to get out cash you need to pay a commission" . That shakes out more money.
When the target realises they has lost thsouands they get sent to the "recover your money" department. They start scamming their suckers for further finds to recover what they have already lost.
All started on Facebook using the faces of big name people as lures. Well worth reading.
Honestly this is one time you should make an absolute pest of yourself with friends who might be duped. This sort of scam preys on the desperation of people are in trouble and looking for a way out.
Download, Save it . Be willing to send it on to people ho may ask your advice. Excellent detail.
Revealed: fake 'traders' allegedly prey on victims in global investment scam
Suspected fraudsters lure investors with fake ads featuring celebrities such as Gordon Ramsay
An army of more more than 200 fake “traders” based in Ukraine have been persuading victims all over the world to part with their savings, according to a whistleblower from the operation who describes it as a huge investment scam.
https://www.theguardian.com/world/2...dly-prey-on-victims-in-global-investment-scam
'Swindled with bitcoin': Australian victims count cost of online finance scam
An estimated $100m has been wheedled out of people around the world in a crytocurrency scam run out of a Kiev call centre. We talk to four victims
https://www.theguardian.com/money/2...ian-victims-count-cost-of-online-finance-scam
The scammers have now brought all the operations under one umbrella They start with the simple "you beaut" crypyo currency investment scam.
They then move onto "Your investment has just gone up 1000% but to get out cash you need to pay a commission" . That shakes out more money.
When the target realises they has lost thsouands they get sent to the "recover your money" department. They start scamming their suckers for further finds to recover what they have already lost.
All started on Facebook using the faces of big name people as lures. Well worth reading.
Honestly this is one time you should make an absolute pest of yourself with friends who might be duped. This sort of scam preys on the desperation of people are in trouble and looking for a way out.
Download, Save it . Be willing to send it on to people ho may ask your advice. Excellent detail.
Revealed: fake 'traders' allegedly prey on victims in global investment scam
Suspected fraudsters lure investors with fake ads featuring celebrities such as Gordon Ramsay
An army of more more than 200 fake “traders” based in Ukraine have been persuading victims all over the world to part with their savings, according to a whistleblower from the operation who describes it as a huge investment scam.
https://www.theguardian.com/world/2...dly-prey-on-victims-in-global-investment-scam
'Swindled with bitcoin': Australian victims count cost of online finance scam
An estimated $100m has been wheedled out of people around the world in a crytocurrency scam run out of a Kiev call centre. We talk to four victims
https://www.theguardian.com/money/2...ian-victims-count-cost-of-online-finance-scam
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Chinese police seized crypto assets worth $4.2B today from PlusToken Ponzi
Court filings from Nov. 19 show that a large volume of crypto assets, including Bitcoin and Ether, was seized from seven convicts in the PlusToken case.
cointelegraph.com
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Came across this story of a long medical scam run by a once famous physician.
I post it because the whole article examines many similar issues undermining new stem cell discoveries and other projects that promise far more than they can deliver. Just a cautionary tale.
Scientific pioneer, superstar surgeon, miracle worker – that’s how Paolo Macchiarini was known for several years. Dressed in a white lab coat or in surgical scrubs, with his broad, handsome face and easy charm, he certainly looked the part. And fooled almost everyone.
Macchiarini shot to prominence back in 2008, when he created a new airway for Claudia Castillo, a young woman from Barcelona. He did this by chemically stripping away the cells of a windpipe taken from a deceased donor; he then seeded the bare scaffold with stem cells taken from Castillo’s own bone marrow. Castillo was soon back home, chasing after her kids. According to Macchiarini and his colleagues, her artificial organ was well on the way to looking and functioning liked a natural one. And because it was built from Castillo’s own cells, she didn’t need to be on any risky immunosuppressant drugs.
This was Macchiarini’s first big success. Countless news stories declared it a medical breakthrough. A life-saver and a game-changer. We now know that wasn’t true. However, the serious complications that Castillo suffered were, for a long time, kept very quiet.
www.theguardian.com
I post it because the whole article examines many similar issues undermining new stem cell discoveries and other projects that promise far more than they can deliver. Just a cautionary tale.
Dr Con Man: the rise and fall of a celebrity scientist who fooled almost everyone
Surgeon Paolo Macchiarini was hailed for turning the dream of regenerative medicine into a reality – until he was exposed as a con artist and false prophetScientific pioneer, superstar surgeon, miracle worker – that’s how Paolo Macchiarini was known for several years. Dressed in a white lab coat or in surgical scrubs, with his broad, handsome face and easy charm, he certainly looked the part. And fooled almost everyone.
Macchiarini shot to prominence back in 2008, when he created a new airway for Claudia Castillo, a young woman from Barcelona. He did this by chemically stripping away the cells of a windpipe taken from a deceased donor; he then seeded the bare scaffold with stem cells taken from Castillo’s own bone marrow. Castillo was soon back home, chasing after her kids. According to Macchiarini and his colleagues, her artificial organ was well on the way to looking and functioning liked a natural one. And because it was built from Castillo’s own cells, she didn’t need to be on any risky immunosuppressant drugs.
This was Macchiarini’s first big success. Countless news stories declared it a medical breakthrough. A life-saver and a game-changer. We now know that wasn’t true. However, the serious complications that Castillo suffered were, for a long time, kept very quiet.
Dr Con Man: the rise and fall of a celebrity scientist who fooled almost everyone
Surgeon Paolo Macchiarini was hailed for turning the dream of regenerative medicine into a reality – until he was exposed as a con artist and false prophet
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As a generic comment:
If it's endorsed by a celebrity then that itself is a huge red flag. Only exception being if the reason the person is famous is due to actual business or investment etc (eg Warren Buffet is legit in that regard, some random chef or actor certainly isn't).
If the company website has a focus on senior management and not on the actual business then that's another red flag. It's the business version of identity politics with all that entails - stay clear.
Anyone who undertakes high profile "stunts" to prove things which are already proven is a massive red flag. For example n 2021 it's not even remotely close to any sort of achievement to simply drive a completely standard common car around the country on sealed roads. Even a 1950's car can do that quite easily so long as it's in good order - might be slower, noisier and far less comfortable and safe than a modern one but it can certainly get there. That reality of being completely unremarkable didn't stop a certain company using that exact stunt a few years ago to promote themselves - needless to say that one didn't end well for investors.
Anyone who claims to be doing something which breaks the laws of physics most likely is breaking some laws, just not laws of the physics variety. Stay very well clear - perpetual motion machines don't work no.
Any company that states potential revenue in great big bold figures but says nothing at all about costs or that the revenue estimate is based on capturing 100% of a market that doesn't actually exist is another one. It's not totally impossible it might succeed, but there's far more hype than substance in most such claims.
Any company with zero relevant experience who's jumped on board the latest "hot" sector is biggest red flag of the lot. Think "mining company reinvents itself as 5G communications company" sort of thing. Run for the hills.
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Bernie Madoff has died in prison. He seems to hold the record for the biggest Ponzi scam of all time. Longest running, most losses . Clean sweep.
Came across this story in Invesotpedia that gives a good over view of his life and scams. IMV well worth a thought as the stockmarket races to ever new heights and multiple investment opportunities present themselves at every turn .
www.investopedia.com
Came across this story in Invesotpedia that gives a good over view of his life and scams. IMV well worth a thought as the stockmarket races to ever new heights and multiple investment opportunities present themselves at every turn .
Bernie Madoff: Who He Was and How His Ponzi Scheme Worked
Bernie Madoff was an American financier who ran a multibillion-dollar Ponzi scheme that is considered the largest financial fraud of all time.
Oops,got the grammar wrong,there folks.Should read "In 2019 the FBI etc".
Further to the those tragic aussies,one poor bugger lost $A100,000,his life savings, in the One Coin ponzi scam.Worldwide,losses were in the billions of Euros, 4 Bill,maybe even E 15 Bill.The self-styled "Crypto-Queen",Dr. Ruja Ignatova is still missing,though not now thought to be dead.According to the BBC,she could be in hiding in Frankfort where the ex and their kid still reside.Her brother,Konstantin was nabbed at LAX just as he was about to board a plane back to..you guessed it,Bulgaria!He did a plea deal with the cops and appeared as star witness against the lawyer.
Further to the those tragic aussies,one poor bugger lost $A100,000,his life savings, in the One Coin ponzi scam.Worldwide,losses were in the billions of Euros, 4 Bill,maybe even E 15 Bill.The self-styled "Crypto-Queen",Dr. Ruja Ignatova is still missing,though not now thought to be dead.According to the BBC,she could be in hiding in Frankfort where the ex and their kid still reside.Her brother,Konstantin was nabbed at LAX just as he was about to board a plane back to..you guessed it,Bulgaria!He did a plea deal with the cops and appeared as star witness against the lawyer.
Today's AFR reports NSW police are investigating a fraud ring sending out fake high- yield prospectuses.A 31 year old Sydney man put $100,000 into what he thought was a Nomura corporate bond fund.Because he initiated the contact, he didn't suspect a scam after providing his details on a Google comparison website,then getting the follow-up phone call from the dubious salesperson.
A British scam has been targeting customers of HSBC Australia, Pimco and Vanguard via a phishing try-on.The fraud rings have so far this year ensnared $Millions from its victims,who go into Google with those fatal words "retiree","high yield" and"compare investments".
A British scam has been targeting customers of HSBC Australia, Pimco and Vanguard via a phishing try-on.The fraud rings have so far this year ensnared $Millions from its victims,who go into Google with those fatal words "retiree","high yield" and"compare investments".
