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Or as others might say, No Wai.

People are too gullible. Way too gullible. It is too easy for people to get sucked into scams because people always want a quick buck.

A group of con-men will be going to jail. They preyed upon religious people and exploited their beliefs. One of their scams was that Joseph Smith had an overseas trust fund worth $1.6 Trillion and they just needed some money to get the funds over here. No way. Not by a long shot. This sounds much like the old Nigerian 419 scam. [Here is a humorous site of Nigerian Scam baiters, may contain some inappropriate language.]

Both of these scams, the Nigerian 419 and the trust fund are also known as advance fee fraud or the Spanish Prisoner.

If you are ever asked to send someone money via Western Union and you do not know them, be either very cautious or ready to part with the money with nothing to show for it in return. The transaction is not traceable and the money can be picked up anywhere in the world, even with fake ID.

Another common scam is the overpayment.

You sell something on E-bay and you have the payment method through PayPal. You sell a nice rare book for $110 (including shipping) and they “mistakenly” pay you $210. Oops. No problem they say, just send the extra $100 back to me, thanks for the book. Being an honest person, you send the money. A couple of days later, Paypal informs you of some discrepancy or difficulty with the $210 transfer and that you don’t really have that money anymore. You just mailed someone a book and sent them $100 too.

This happens with check deposits, wire transfers, and other transactions. The key is to wait until the transaction is cleared completely before sending any money back. Be especially careful if they overpay and ask you to send the money back via Western Union.

According to this man with a radio show and books, you may unwittingly be creating your own Chapter 13 Bankruptcy, or sometimes a Chapter 7, without ever setting foot in court or paying an attorney.

If you hire a service to pay your bills for you and you just pay them a lump sum once a month it could appear on your credit and may be treated like a Chapter 13 repayment plan. If you use a debt negotiator that will “settle” and reduce your debts with credit card companies, that is treated like a Chapter 7 Bankruptcy. These are services offered to “help” you but may do more harm than good.

There have been advertisements that under the U.S. Code, you can consolidate and reduce your debt!! They were really offering Chapter 13 Bankruptcy.

There are too many scams out there and there are more every year. 12 Daily Pro was shut down by the SEC, and it sucked in many saps from BYU A dean at the school said that students may be removed from school for participating. (The news story did not say, but it may be that the reason the students may be removed from school is because they have already proven themselves too dumb to complete school and they want to save the students the embarrassment of flunking out.) 12 Daily Pro offered a 44% return every 12 days, or a 3000% return per year. Not very likely. It is even less likely that these people will get their money back from 12 Daily Pro.

Be careful out there. Your money belongs to you.

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July 2018
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