WORLD Law Direct Forums
Home > WORLD Law Direct Forums > OTHER TOPICS OF INTEREST > Money Frauds and Scams
REGISTER FAQ Tags Members Social Groups Calendar Search Today's Posts Mark Forums Read Layout

Money Frauds and Scams

Below you will find a list of topics in the Money Frauds and Scams forum at the WORLD Law Direct Forums. Investment and financial scams including 'phishing', share scams, identity theft, bogus calls, etc.

Top 10 Investor scams

Whether it is through the Internet or in the real world, investment scams are a fact of life. Here is a list of the top ten investment scams compiled by the California Department of Corporations:
  • Promissory notes The illegal and fraudulent sale of promissory notes and unlicensed broker-dealer activity by the sales agents marketing them. Some legitimate brokers are selling these promissory notes unaware or misunderstanding what they are selling.
  • Internet fraud Through the use of Internet, scamsters are plying their trade by making illegal and fraudulent investment offerings, engaging in market manipulation, conducting insider trading and acting as unlicensed broker-dealers.
  • Telemarketing fraud Boiler room operations are not new. High pressured telephone sale tactics are being used to part innocent investors from their money by encouraging investors to invest into worthless investments.
  • Investment seminars and financial planner activity Many investment seminars and financial planner activity are carried on without the required licenses. The organizers of these seminars fail to disclose conflicts of interest and hidden fees and commissions. Many investment seminars are not sincerely aimed at aiding investors on how to invest but are trying to sell certain financial products in which the organizer has an interest.
  • Affinity group fraud Affinity group fraud is the fraud against religious, ethnic and professional groups by members of these groups or persons claiming to provide assistance to these groups. Members of these groups are lulled into a false sense of security believing they can trust a group member who is merely a wolf in sheep’s clothing trying to encourage the purchase of a worthless investment.
  • Abusive sales practices by licensed broker-dealers and agents These practices include sales of securities to unsuitable investors, failure to disclose critical information, fraudulent offerings of securities and market manipulation of low-priced microcap offerings.
  • Viatical investment scams According to the Department of California Corporations, "Viatical investment companies solicit investors to buy interests in the death benefits provided for in life insurance policies of terminally ill patients, including AIDS and cancer patients. The insured receives a discounted percentage of the death benefits in cash to allegedly improve the quality of their lives in the final days. Investors get their share of the death benefit when the insured dies, less a brokerage fee for the viatical investment broker." These investments are extremely speculative because of the uncertainty involved in determining when some is going to die.
  • High tech products and services There has been an increase in the number of illegal offerings of high tech investments. These offerings promise high profits with no risk. These investments include investing in 900 number investments, Internet service providers and high tech virtual reality shopping malls.
  • Entertainment As with high tech products, some scamsters are promoting investments in movie deals and other entertainment products with promises of guaranteed profits without disclosing the risk.
  • Ponzi/pyramid schemes/bunco Ponzi schemes occur where tremendous rates of return are paid to initial investors out of funds from later investors, who end up losing all of their money when they wish a return of their investments. A pyramid scheme involves the collection of money from individuals at the bottom (new investors) to pay the initial investors at the top. The object of the scheme is to recruit new members rather than on selling the product or service. Finally there is the prime bank investments scheme. Here the promoter tells the innocent investor that there are certain prime international banks that pay exorbitant interest rates. These investments according to the promoter are quite secret and only available to select investors. The investor lends his or her money only to find out that there are no such banks and that he or she lost all of his or her money.

Need Legal Advice? Consult a Lawyer - Click Here to Present Your Case Now!

Welcome to the WORLD Law Direct Forums.

To post simply click the area of law most applicable to your issue and then click "New Thread". Registration is not required. However, we encourage you to register in order to take advantage of many personalization features. If you are asking a question, our attorneys may respond. Postings are public.
Note: Only registered users may receive email notifications, subscribe to a thread they posted or get Private Messages in response.
To consult your own Personal Lawyer click here!


Sub-Forums : Money Frauds and Scams

 Search this Forum
Feed Icon
Discussion about all kinds of Internet-based HYIP schemes.
Today 02:54 AM Go to last post
235 35,779
Discussion about YMMSS/STA (Your Money Machine Success System/Success Through Advertising) HYIP fraud.
Oct 22nd, 2009 12:20 PM Go to last post
46 711
Feed Icon
Discussion and updates about the SolidInvestment.com investment HYIP fraud.
Today 02:57 AM Go to last post
27 5,929

Post New Question / Thread  POST NEW QUESTION
Page 3 of 10 12 3 45 Last »

Threads in Forum : Money Frauds and Scams

 Forum Tools Search this Forum
  Rating Thread / Thread Starter Last Post Reverse Sort Order Replies Views
- -
Powered by U.S. Legal Forms
Sponsored Links - -
Exclamation
Cyber Law
Jan 30th, 2009 02:52 PM
by Cyber Law Go to last post
0 627
 
Angry
davidkent
Oct 23rd, 2009 07:49 AM
by davidkent Go to last post
0 53
Angry
davidkent
Oct 23rd, 2009 07:47 AM
by davidkent Go to last post
0 67
RobinSmith
Oct 23rd, 2009 05:12 AM
by RobinSmith Go to last post
0 60
wld_team
Oct 22nd, 2009 11:38 AM
by Unregistered Go to last post
6 248
Thumbs Up
Unregistered
Oct 17th, 2009 02:05 PM
by Unregistered Go to last post
1 78
WSJ_law_blog
Oct 16th, 2009 01:50 PM
by WSJ_law_blog Go to last post
0 49
Thread Rating: 5 votes, 4.60 average. Unregistered
Oct 12th, 2009 03:07 PM
by Unregistered Go to last post
138 12,496
WSJ_law_blog
Oct 10th, 2009 11:24 AM
by Unregistered Go to last post
1 73
Confused
Curious_Assistant
Oct 9th, 2009 06:48 AM
by Curious_Assistant Go to last post
0 100
Unregistered
Oct 8th, 2009 08:44 AM
by Unregistered Go to last post
0 57
Unregistered
Oct 5th, 2009 10:39 AM
by Unregistered Go to last post
1 63
Question
JJMM
Oct 3rd, 2009 02:09 AM
by Unregistered Go to last post
6 1,027
Unregistered
Sep 29th, 2009 10:29 AM
by Unregistered Go to last post
3 133
Unregistered
Sep 29th, 2009 10:13 AM
by Unregistered Go to last post
3 118
Unregistered
Sep 24th, 2009 07:13 PM
by Unregistered Go to last post
11 1,630
forum_admin
Sep 24th, 2009 03:59 AM
by forum_admin Go to last post
1 219
Yahoo!_news
Sep 21st, 2009 04:30 PM
by Yahoo!_news Go to last post
0 87
Unregistered
Sep 20th, 2009 06:44 PM
by Unregistered Go to last post
0 92
Exclamation
Unregistered
Sep 20th, 2009 02:07 AM
by Unregistered Go to last post
3 140
Exclamation
Unregistered
Sep 17th, 2009 04:46 PM
by Unregistered Go to last post
1 54
Post New Question / Thread
Page 3 of 10 12 3 45 Last »

Display Options
Showing threads 41 to 60 of 192
 
Forum Tools Search this Forum
Search this Forum :

Advanced Search

New posts New posts More than 15 replies or 150 views Hot thread with new posts
No new posts No new posts More than 15 replies or 150 views Hot thread with no new posts
Closed Thread Thread is closed  
 
Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Format Your Messages
Add Forum to Google Toolbar
Forum Jump



All times are GMT -5. The time now is 03:16 AM.