Tuesday, December 06, 2005

If You Have Been Scammed or Have Been Approached by Promoters of this Scam
Call your local FBI branch immediately, and tell them how you have been approached. Call also your state's securities commission. Contact the SEC at their Online Complaint Center. Cooperate with law enforcement -- maybe you can help them to catch the promoters! If you have signed one of the "Secrecy and Confidentiality" agreements (however it may be titled) please be advised that the agreement is NULL AND VOID because it is part of an illegal agreement -- that is, you CANNOT be successfully sued because you signed one of these hokey forms and later went to law enforcement to lodge a complaint. Promoters often try to threaten people when they want their money back that they will be "sued" for violating the agreement, but the plain fact is that these agreements have no effect as a matter of law because the underlying scam transaction was invalid. Note also that if you are a VICTIM of this scam, you have done nothing wrong and will not be prosecuted for cooperating and assisting authorities. Therefore, there is NO REASON NOT TO CONTACT THE AUTHORITIES to at least help prevent someone else from being scammed. Finally, the BEST WAY that you are going to get your money is by way of a Victim's Restitution Order. That is, if the person who has scammed you is convicted, they will have to pay you your money back before they will be released from parole. This is another reason that you should immediately go to the authorities and disclose the fraud.
THE END GAME
Once a victim has figured out that he or she won't be getting their money back, they are then often lead into the "end game" where they will essentially assist in the fraud. The line the promoter will give is this: "Look, I can't give you your money back unless you bring someone else to me. Bring someone else to me, and I will give you a cut of their money." If the victim goes along, the victim is now also a promoter, and is guilty of fraud, securities fraud, embezzlement, and aid & abetting fraud, securities fraud, and embezzlement -- so don't go along: Turn the promoter in to the authorities instead!As mention above, the BEST WAY to get your money back is to file criminal charges against the promoter, and seek a Victim's Restitution Order. Not only does this offer you your best hope of getting at least a portion of your money back, but it will also take the promoter off the street and hopefully save somebody else from being sucked into this scheme.Please note that when someone tells you that they have made these astronomical returns off the program, it usually means that they have already been scammed, and are trying to get you into it so that they can re-coup part of their investment. Well, turn these folks in to the authorities, too, because they are no better than the original scam artist.
DENIAL
Like any other scam, people who have been scammed with these programs go into denial that they even have been scammed.Many people can't get over the mental barrier that they have lost everything. The only thing they have to live for is the hope that their money might come back, and we have seen people wait for years even after the scam artist has completely vanished and they don't even know who to call to check on their investment. But they still sit around, thinking that someday, somehow, a check for millions will somehow miraculously appear in their mailbox.Many people are embarrassed because they have been scammed. They've told their family and friends about this great investment, and simply can't face them to say that they did something stupid.Many people are culpable because they have also gotten their family and friends to invest in these programs, and even if the scam artist can't be found, they will go to jail for aiding and abetting the felony sale of securities without a license, embezzlement, etc.Well, all you folks who fall into these categories NEED TO WAKE UP AND SMELL THE COFFEE. Your money is gone, vamoosed, and you will never, ever get it back. The least you can do is report your losses to the police and to the FBI so that at least they can stop the scam artist before they hurt someone else.
STUPID ARGUMENTS
About twice a month, we get actually get calls from the scam artists themselves, posing from everything from an interested investor to an attorney acting on behalf of one of the roll programs. These idiots offer all sorts of B.S., arguing that their program is somehow "different" or that they have "guaranteed returns" or other such nonsense. Notably, they almost all hang up when we suggest that if their program is so good, that they should take it to the U.S. Securities & Exchange Commission and register it!Again, we have seen literally hundreds of these programs over the last several years but we have YET to see even a single legitimate one. Not one!
THEY DO NOT EXIST
Every couple of weeks, some sucker who is about to be scammed calls us and says essentially "I've read your website but isn't it possible that some of these might be for real?"
No! Hell No!
None of these are for real, period. This scam has been going on for years, and to date NO program has been legitimate. If you can't find the proposed program investment in either the Wall Street Journal or the London Financial Times, and if it has not been registered with your State Securities Commissioner, then it is a scam. Any and all reasons why it is not so listed are the purest of lies.During the course of the last several years, we have seen hundreds of these programs, but we have yet to see a real one! If there is a real one out there, we'd like to know because it would be the first. We're not holding our breath, however.[Please do not send us information to evaluate these programs, unless you also send us the U.S. address of the promoter so that we can forward this information to law enforcement for them to check against their records.]

0 Comments:

Post a Comment

<< Home