Looking for some sky-high options for your money? Why not put your money into the Mercorella investment scheme, offering 36 per cent per year? You could even get up to 72 per cent if you sign up your friends and acquaintances.
Alternatively, you could split a cool $35 million with a Dr Paul Mbizala who's got his hands on money belonging to investors in a US managed fund.
Once you've made your packet, you could fly out of Australia on a cheap flight overseas bought from New Flights Limited. Except the company is a fake, is not registered with ASIC, and buys the tickets with stolen credit cards.
These outrageous offers are all fakes that won't come true. That's why they're the top nominations for the ASIC 'Pie In The Sky' award for 2007.
'ASIC announces the Pie In The Sky award once a year for the most outrageous financial scheme that's too good to be true', ASIC's Executive Director of Consumer Protection, Mr Greg Tanzer said.
'Pie in the sky financial schemes still devastate far too many people. They frequently use sophisticated props and hard sell techniques that lure even financially experienced people', Mr Tanzer said.
'The serious purpose behind these awards is to warn the public that get rich quick schemes promise the world, but usually end in tears.'
The ASIC 2007 Pie in the Sky Award goes to the Ponzi scheme operated by Guiseppe Mercorella that offered people between three and six per cent per month. Mr Mercorella's illegal scheme received $216.9 million from investors who ultimately lost $76 million. Mr Mercorella is now serving a five year jail term on ASIC charges.
Many of the investors were from South Australia, and many from the local Italian community who became aware of the scheme through family and friends. This is typical of how many people become involved in 'Ponzi' schemes. Some investors mortgaged their homes to invest with Mr Mercorella.
'Always deal with licensed Australian financial providers, because that way your rights are better protected if something goes wrong.'
'You can check ASIC’s consumer website, FIDO for free at www.fido.gov.au to make sure a scheme is operated by a licensed business', Mr Tanzer said.
Alternatively, you could split a cool $35 million with a Dr Paul Mbizala who's got his hands on money belonging to investors in a US managed fund.
Once you've made your packet, you could fly out of Australia on a cheap flight overseas bought from New Flights Limited. Except the company is a fake, is not registered with ASIC, and buys the tickets with stolen credit cards.
These outrageous offers are all fakes that won't come true. That's why they're the top nominations for the ASIC 'Pie In The Sky' award for 2007.
'ASIC announces the Pie In The Sky award once a year for the most outrageous financial scheme that's too good to be true', ASIC's Executive Director of Consumer Protection, Mr Greg Tanzer said.
'Pie in the sky financial schemes still devastate far too many people. They frequently use sophisticated props and hard sell techniques that lure even financially experienced people', Mr Tanzer said.
'The serious purpose behind these awards is to warn the public that get rich quick schemes promise the world, but usually end in tears.'
The ASIC 2007 Pie in the Sky Award goes to the Ponzi scheme operated by Guiseppe Mercorella that offered people between three and six per cent per month. Mr Mercorella's illegal scheme received $216.9 million from investors who ultimately lost $76 million. Mr Mercorella is now serving a five year jail term on ASIC charges.
Many of the investors were from South Australia, and many from the local Italian community who became aware of the scheme through family and friends. This is typical of how many people become involved in 'Ponzi' schemes. Some investors mortgaged their homes to invest with Mr Mercorella.
'Always deal with licensed Australian financial providers, because that way your rights are better protected if something goes wrong.'
'You can check ASIC’s consumer website, FIDO for free at www.fido.gov.au to make sure a scheme is operated by a licensed business', Mr Tanzer said.
Posted on Sunday, November 30, 2008
This trophy is been awarded each year for the most outrageous financial scheme that's too good to be true.
The serious purpose behind this award is to warn you about financial scams. Scamsters frequently use sophisticated props and hard sell techniques that trap even financially experienced people.
The serious purpose behind this award is to warn you about financial scams. Scamsters frequently use sophisticated props and hard sell techniques that trap even financially experienced people.
Posted on Sunday, November 23, 2008
Have you received unsolicited email asking for a donation to help victims of an emergency or with news about it? If so, you may have been the target of a scam.
According to the Federal Trade Commission (FTC), the nation's consumer protection agency, some fraud artists are taking advantage of an emergency situation to rip-off people who want to help victims or who are looking for news about it.
Charity Spam
One scam involves requests for donations to bogus charities. Spammers send email claiming they are providing aid to victims and directing you to websites that look legitimate, reference well-known charities, or have names that sound similar to well-known, legitimate, and respected charitable organizations. In fact, the spammers keep most - or all - of the funds they collect for themselves.
If you get an email that interests you in helping those affected by an emergency, the FTC has these tips to help you give wisely:
- Donate to recognized charities you have given to before. Be on the alert for charities that seem to have sprung up overnight. They may be well-meaning, but they lack the infrastructure to provide assistance.
- Give directly to the charity, not to the solicitors for the charity. Solicitors take a portion of the proceeds to cover their costs and that leaves less for victim assistance.
- Do not give out personal or financial information - including your Social Security number or credit card and bank account numbers - to anyone who solicits a contribution from you. Scam artists use this information to commit fraud against you. Never send cash: there's no way to ensure that the organization received your donation.
- Check out any charities before you donate.
News Spam
Some computer hackers are pasting a snippet of news about an emergency situation into an email, with a link to "read more." If you click on the link, you may be unwittingly starting a process that secretly installs software giving the hackers control over your computer. It's called "spyware," and it allows the hacker to access the data and programs on your computer, or even take control over computers and use them to send spam.
Computer security experts and federal officials caution consumers not to click on links in, or reply to, unsolicited email offering news about emergencies or asking for donations to help the victims. And they recommend that consumers not cut and paste any links from an unsolicited email message into their own Internet browsers. Scammers can make links look like they go to one place, but actually send computer users to a different site.
How can you detect spyware on your computer? Your computer may suddenly take a long time to run the programs you use; you may get random error messages; or you may find new and unexpected icons or toolbars on your screen.
How can you get rid of it? Security experts advise you to take three steps:
- Get an anti-spyware program from a vendor you know and trust.
- Set it to scan on a regular basis — at least once a week — and every time you start your computer, if possible.
- Delete any software programs the anti-spyware program detects that you don't want on your computer.
Posted on Thursday, November 20, 2008
Landmark Mergers and Acquisitions Inc
445 Park Avenue,
NYC, NY, 10022 USA
Ph: 1 (646) 530-8783
www.landmarkma.com
LGT Capital Partners (now also known to be using the name Dartmouth Financial Inc)
#Please note that this company is not connected in any way and should not be confused with LGT Group Foundation Herrengasse 12
9490 Vaduz
Principality of Liechtenstein
Tel. 00423 235 17 87
Fax. 00423 235 12 39
Dartmouth Financial Inc.
Phone: 55(21)3002-0338
Fax: 55(21)3002-0336
Email: info@br.dartmouthfinancial.com
LGT Capital Partners
Av. Luiz Carlos Prestes, 180
Barra da Tijuca, Rio de Janeiro, Brazil – RJ CEP: 22775-055
Phone:55213002 0338
Fax: 5521 3002 0336
Liberty Assets Inc
3306 South Liberty St
New Orleans Louisiana 70115
USA
Ph: 1 504 324 1825
Fax: 1 504 324 1878
www.libertyassets.com
Liberty Asset Management
One Financial Centre
Boston
MA 02111
USA
website: libertyassetmngt.com
Ph: 001.202.478.5308
Fax: 001.202.478.5309
Liberty First Financial Services, Inc
Liberty First Foreign Services, Inc
Liberty First Advisory Services, SA
Paris 101 – 107, 5º1ª
Barcelona 08029
Spain
Ph: 34 93 493 5000
Fax: 34 93 493 5002
www.libertyfirst.net
Lincoln Financial Group
See the Securities Securities and Exchange Commission of Thailand's media release 42/2004 Conviction on Boiler Room Case - The Brinton Group, issued 10 June 2004.
23F, 105 Tun Hwa South Road Section Two,
Taipei 106 Taiwan, R.O.C.
Tel: 886 2 2784 1600
Fax: 886 2 2784 1602
Lincoln Market Research
685 Market Street
San Francisco CA 94105
USA
Ph: 1 415 874 7832
Fax: 1 415 840 1734
www.lincolnmr.com
Link Mergers & Acquisitions
1375 e 9th Street 14th Floor
Cleveland
OH 44114-1724
1 216 453 2315
1 216 274 6274
21 Ichiban-cho
Chiyoda-ku
TOKYO 102-0082
81 3 4580 2144
81 3 4496 4333
contact@us.linkman.com
Linx Asset Management
Lambroekstraat 6, 1840 Diegem
Brussells Belgium
Ph: 32 2 403 4988
Fax: 32 2 706 5557
www.linxasset.com
Lloyds and Barclays, Inc
Suite 3304, Empire State Building
1350 Fifth Avenue
New York, NY 10118
USA
Ph: (1) (212) 971 1315
Fax: (1) (212) 971 1327
Lloyds & Lambert Capital Ventures Inc
27th Floor, 85 Chambers St
New York, USA
And/or
57th Floor 84 Chambers St
New York NY 10007
Ph 1 718 337 8473
Fax 1 917 591 86 09
www.lloyds-lambert.com
Lowe and Lane Asset Management
10 East Doty Street,
Madison, WI 53703
United States of America
Phone: 1 (608) 467-5872
Fax: 1 (608) 299-3785
Taikoo Place,
979 King's Road
Island East, Hong Kong
Hong Kong
Phone: 852 3678 9859
Fax: 852 3014 4991
www.lowelane.com
Lynx Limited
Asia House
31-33 Lime St
London EC3M 7HT
United Kingdom
4402074794821
www.lynxcommodities.com
The Lyon Group Inc
Suite 289, 10700 Richmond,
HOUSTON, TEXAS
USA
Ph 1 832 497 5159
Fax 1 832 487 1709
www.thelyongroupinc.com
445 Park Avenue,
NYC, NY, 10022 USA
Ph: 1 (646) 530-8783
www.landmarkma.com
LGT Capital Partners (now also known to be using the name Dartmouth Financial Inc)
#Please note that this company is not connected in any way and should not be confused with LGT Group Foundation Herrengasse 12
9490 Vaduz
Principality of Liechtenstein
Tel. 00423 235 17 87
Fax. 00423 235 12 39
Dartmouth Financial Inc.
Phone: 55(21)3002-0338
Fax: 55(21)3002-0336
Email: info@br.dartmouthfinancial.com
LGT Capital Partners
Av. Luiz Carlos Prestes, 180
Barra da Tijuca, Rio de Janeiro, Brazil – RJ CEP: 22775-055
Phone:55213002 0338
Fax: 5521 3002 0336
Liberty Assets Inc
3306 South Liberty St
New Orleans Louisiana 70115
USA
Ph: 1 504 324 1825
Fax: 1 504 324 1878
www.libertyassets.com
Liberty Asset Management
One Financial Centre
Boston
MA 02111
USA
website: libertyassetmngt.com
Ph: 001.202.478.5308
Fax: 001.202.478.5309
Liberty First Financial Services, Inc
Liberty First Foreign Services, Inc
Liberty First Advisory Services, SA
Paris 101 – 107, 5º1ª
Barcelona 08029
Spain
Ph: 34 93 493 5000
Fax: 34 93 493 5002
www.libertyfirst.net
Lincoln Financial Group
See the Securities Securities and Exchange Commission of Thailand's media release 42/2004 Conviction on Boiler Room Case - The Brinton Group, issued 10 June 2004.
23F, 105 Tun Hwa South Road Section Two,
Taipei 106 Taiwan, R.O.C.
Tel: 886 2 2784 1600
Fax: 886 2 2784 1602
Lincoln Market Research
685 Market Street
San Francisco CA 94105
USA
Ph: 1 415 874 7832
Fax: 1 415 840 1734
www.lincolnmr.com
Link Mergers & Acquisitions
1375 e 9th Street 14th Floor
Cleveland
OH 44114-1724
1 216 453 2315
1 216 274 6274
21 Ichiban-cho
Chiyoda-ku
TOKYO 102-0082
81 3 4580 2144
81 3 4496 4333
contact@us.linkman.com
Linx Asset Management
Lambroekstraat 6, 1840 Diegem
Brussells Belgium
Ph: 32 2 403 4988
Fax: 32 2 706 5557
www.linxasset.com
Lloyds and Barclays, Inc
Suite 3304, Empire State Building
1350 Fifth Avenue
New York, NY 10118
USA
Ph: (1) (212) 971 1315
Fax: (1) (212) 971 1327
Lloyds & Lambert Capital Ventures Inc
27th Floor, 85 Chambers St
New York, USA
And/or
57th Floor 84 Chambers St
New York NY 10007
Ph 1 718 337 8473
Fax 1 917 591 86 09
www.lloyds-lambert.com
Lowe and Lane Asset Management
10 East Doty Street,
Madison, WI 53703
United States of America
Phone: 1 (608) 467-5872
Fax: 1 (608) 299-3785
Taikoo Place,
979 King's Road
Island East, Hong Kong
Hong Kong
Phone: 852 3678 9859
Fax: 852 3014 4991
www.lowelane.com
Lynx Limited
Asia House
31-33 Lime St
London EC3M 7HT
United Kingdom
4402074794821
www.lynxcommodities.com
The Lyon Group Inc
Suite 289, 10700 Richmond,
HOUSTON, TEXAS
USA
Ph 1 832 497 5159
Fax 1 832 487 1709
www.thelyongroupinc.com
Posted on Monday, November 17, 2008
Federal Reserve Board Alerts Public to Instances of Questionable Solicitations Directed at Consumers
The Federal Reserve Board on 4th November 2008 alerted the public to instances of questionable solicitations directed at consumers. These solicitations promise consumers access to personal loans through a nonexistent Federal Reserve lending program.
Under this fraudulent scheme, targeted individuals are told that that they can work through a broker to access a Federal Reserve program that extends sizable secured loans to consumers. Consumers are encouraged to deposit large sums of money into a bank account, under the guise of a security deposit, in order to receive the purported loan.
The Federal Reserve is advising consumers that it has no involvement in these solicitations and does not directly sponsor consumer lending programs. The matter has been referred to the appropriate authorities for action.
Consumers are strongly urged to verify the legitimacy of potential service providers before entering into a business transaction. Individuals seeking personal finance options are encouraged to do business only with reputable lenders and to shop around for the most favorable loan terms.
Posted on Wednesday, November 12, 2008
The Social-networking site Face-book is riddled with the Nigerian scammers using compromised accounts to concern users out of cash.
It appears that the badly-spelt slang cash requests, extends since laughed-off the Internet by anyone with even half a brain, are resulting in fertile ground among the Facebook crowd.
It is found that the scammer are the user's Facebook login details after he/she is infected with a virus delivered by email or from an infected web page.
There are many numbers of viruses which, on getting installed in a computer, sends the detailed login information's of everything entered using the keyboard, including the online banking details and the passwords for services such as Facebook.
While the Nigerian scammers are using the compromised Facebook accounts which are coupled with the social engineering strategy and trying to convince the user to hand over cash, most of them are using compromised accounts to spread malware.
It appears that the badly-spelt slang cash requests, extends since laughed-off the Internet by anyone with even half a brain, are resulting in fertile ground among the Facebook crowd.
It is found that the scammer are the user's Facebook login details after he/she is infected with a virus delivered by email or from an infected web page.
There are many numbers of viruses which, on getting installed in a computer, sends the detailed login information's of everything entered using the keyboard, including the online banking details and the passwords for services such as Facebook.
While the Nigerian scammers are using the compromised Facebook accounts which are coupled with the social engineering strategy and trying to convince the user to hand over cash, most of them are using compromised accounts to spread malware.
Posted on Monday, November 10, 2008
Nigerian advance-fee fraud has been around for many years, but now it seems to have reached out-breaking proportions: Some of the consumers have said to the Federal Trade Commission (FTC) that they are receiving dozens of offers a day from supposed Nigerians graciously promising huge profits in exchange for help moving large amount of money out of their country. And it is said that, many sympathetic consumers are continuing to fall for the believable sob stories, the unswervingly polite language, and the unequivocal promises of money. These advance-fee solicitations are scams. And according to the Federal Trade Commission, the scam artists are playing each and every consumer for a fool. Here's the play book:
"Claiming to be Nigerian officials, businesspeople or the surviving spouses of former government honchos, con artists offer to transfer millions of dollars into your bank account in exchange for a small fee. If you respond to the initial offer, you may receive "official looking" documents. Typically, you're then asked to provide blank letterhead and your bank account numbers, as well as some money to cover transaction and transfer costs and attorney's fees.
You may even be encouraged to travel to
Posted on Thursday, November 6, 2008
There are many scammers online. You should really avoid taking on offers that seem to good to be true. And it probably makes sense buying iPhones from official distributors, or directly from other companies that sell them. Overall, be cautious.
Here's the experience of a businessman from Durban, South Africa - He fell for a cheap iPhone advertisement. He answered one of these " iPhone" ads. After paying the original price, the person he contacted told him that his boss had told him that the full amount needed to be paid and they would ship the goods only then, so the victim paid R1 600 into his account on the Monday. He then called him and told that the phone would get to buyer on coming Monday afternoon. The phone never came but the scammer contacted him again. This time he wanted shipping charges of R1 100! The businessman ended up paying the extra money. But guess what? He still did not receive the iPhone and when I tried his cell number he didn answer. The scammer eventually replied, saying "IT IS A SCAM. U CAN NEVER FIND ME. ALL INFO GIVEN TO YOU ARE FAKE. SIM CARD WILL BE DAMAGED SOON. SO DON'T CONTACT ME AGAIN. WE GOT MORE THAN 50 FAKE BANK DETAILS SO THAT IS NO PROBLEM"
Here's the experience of a businessman from Durban, South Africa - He fell for a cheap iPhone advertisement. He answered one of these " iPhone" ads. After paying the original price, the person he contacted told him that his boss had told him that the full amount needed to be paid and they would ship the goods only then, so the victim paid R1 600 into his account on the Monday. He then called him and told that the phone would get to buyer on coming Monday afternoon. The phone never came but the scammer contacted him again. This time he wanted shipping charges of R1 100! The businessman ended up paying the extra money. But guess what? He still did not receive the iPhone and when I tried his cell number he didn answer. The scammer eventually replied, saying "IT IS A SCAM. U CAN NEVER FIND ME. ALL INFO GIVEN TO YOU ARE FAKE. SIM CARD WILL BE DAMAGED SOON. SO DON'T CONTACT ME AGAIN. WE GOT MORE THAN 50 FAKE BANK DETAILS SO THAT IS NO PROBLEM"
Labels: 419 scam
Posted on Monday, November 3, 2008
2008 Pie in the Sky Award winner - 1st Place
According to the offer, people could get a share of the wealth by claiming to be the deceased's next of kin. To claim the wealth, you would need to respond to the email. The nature of this type of fraud is that you would need to pay a fee before you would receive the money. This is an advanced fee fraud where you would pay to receive nothing.
'Of course there is no $17 million estate, and people were being scammed for the upfront fees', said Ms Delia Rickard, ASIC's Acting Executive Director of Consumer Protection.
Posted on Monday, November 24, 2008