Triple Your Money in 30 Days! … and Other Scams You Should Know
What is worse than an economic crunch? People scamming people during the hard times. It’s evil. But it is a scene that keeps repeating itself. Sadly, the victims are often the most financially vulnerable among us: the elderly, pensioners, and employees whose savings and retirement options are their only main assets. We re-visited some of these heart-wrenching stories to remind everyone that scammers will always be among us, dressed in sheep’s clothes as seemingly the promised angel to give us our pot of gold. Caveat emptor—remember, if it’s too good to be true,
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The economic crash has had an enormous ripple effect, and one of the millions of lives it changed was that of Bernard Madoff, or “Uncle Bernie” among Jewish America”s super-rich elite.
After 28 years, David Salinas” financial scams finally caught up with him. An insurance salesman for most of his career, Salinas at some point began taking money from friends and investing it for them.
The research stated that most victims reside in areas of the USA where there is a high Jamaican population, especially New York, New Jersey and Florida; and that victims risk their savings and social security payouts, ostensibly, for large sums of cash they believe they won in a “lottery” or the right to claim the fortune of someone who recently died.
Victims from abroad were befriended through an online dating site and then tricked into sending money to the fraudsters to invest in the business.
“…The Federal Trade Commission reminds consumers that scams often follow disasters. The nation’s consumer protection agency warns people about urgent appeals for charitable donations, and cautions residents in stricken areas about fraudulent home repair offers.”
A federal judge… likened two brothers to “financial vampires” and sentenced them to 14 years in prison each for a massive fraud scheme targeting elderly and minority homeowners.
According to the indictment, Goyer and his co-defendants called elderly victims in Southern California and invented scenarios involving legal or financial crises they claimed had befallen the grandchildren or other relatives of the victims and instructed victims to wire them money.
Have you or a friend been victimized by a scam? Please share the story to warn others.
Category: Personal Finance