SCAMS

Scams have been around a long time. Most people have heard of Ponzi schemes even though they may not fully understand what they are. These schemes are described as fraudulently conning a person to invest money to make money fast. Charles Ponzi became notorious for his schemes and losing investor's money. In July 1920 he had made millions of dollars. People mortgaged their homes and invested their life savings. Many even reinvested their profits. Of course eventually Charles Ponzi was in troubled with the federal government when he could not pay investors who wanted their money back.

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Many people have set up companies of which the USA government has identified as Ponzi Schemes or Pyramid Schemes. One of the well known ones was known as Equinox International. Representatives conducted seminars in hotel meeting rooms with motivational presentations on how to get rich with their company by auto shipping the products and encouraging others to do the same. They encouraged new recruits to buy thousands of dollars of heath products to reach the top level even before they had built an organization of recruits. Many unsuspecting new distributors even took out second mortgages on their home to invest in products. Equinox International was a multi-level marketing organization, headed by William Gouldd. On April 20, 2000, Equinox International was ordered to permanently shut down. The Owner Bill Gouldd is barred forever from any involvement in any capacity in any MLM in the United States.

Every type of business has its own type of schemes or fraud. Of course you are probably aware that there are also in the real estate industry. Find out about mortgage fraudulent practices Click Here! to find out what a mortgage superstar exposed

Every car owner realizes when looking for a automobile that he must be careful not to get ripped off. You owe it to yourself to Click Here! to see what a former car salesman has to say about the industry.

Internet Scams

One online sites that people commit scams are on online auctions. The two major online marketplaces are eBay and Yahoo and they are proven safe auction sites to do business on. They warn you of the phising scams where there have been fake sites that look like them and email yoy to steal your idenity. eBay says they will never ask for your personal information in a email. They also offer buyer protection programs that can be safe alternatives and they discourage use of Western Union for a purchase. You can surely guess that Western Union has been used to part a buyer from his money. There are also other methods that sellers use to defraud buyers. There are also sellers that don't send the product to the buyer. However, these scams are to a minimum, but you still must be cautious as to who you are dealing with on these sites. The use of feedback has proved to be a good way to measure the seller's practices.

The abuse of credit cards and debit cards have been used fraudulent online, especially if it was stolen from the rightful owner. This particular crime is connected to identity theft.

Many people have been defrauded online by following the advice given in unsolicited emails which promised tips such as "Triple your investment — guaranteed!" xperts say investors should be extremely wary about this kind of unsolicited tip, whether it appears in e-mail, on Web-based discussion boards or on Internet sites claiming to offer stock advice.

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What are the current Scams?