Comments on: Financial Fraud: 6 Simple Steps to Protect Yourself

By: Tom D.

Tom D. — Mon, 04 May 2009 15:34:02 +0000

It would have been much easier for everyone if you had included the Powerpont presentation Scott Brown’s session on options. It is almost impossible to visualize and understand his commentary without the slides.

By: Financial Scams Go Global, Here's How to Avoid Them | Jutia Group

Financial Scams Go Global, Here's How to Avoid Them | Jutia Group — Thu, 19 Mar 2009 17:02:15 +0000

[...] Investment U, an investment newsletter that reaches hundreds of thousands of readers daily, offers “Six Simple Steps to Protect Yourself From Financial Fraud.” Consider them part of a “sniff test” to tell if something is legitimate. [...]

By: Financial advice | As Financial Scams Go Global, Here’s How to Avoid Being Stung - Contrarian Stock Market Investing News - Featuring Bargain Stocks

Thu, 19 Mar 2009 16:02:28 +0000

By: As Financial Scams Go Global, Here’s How to Avoid Being Stung

As Financial Scams Go Global, Here’s How to Avoid Being Stung — Thu, 19 Mar 2009 10:00:43 +0000

By: Paul

Paul — Sun, 08 Mar 2009 21:43:19 +0000

The original article and the replys are all good. First, the sovereignty and governments of Bermuda, Nigeria, India, the Bahamas etc., certainly do not endorse or foster financially fraudulent schemes as an official government endorsement. It is illogical, bad for business and eventually will hurt that country ( With all due respect to Mr McMartin, it is likely that Doc Brown’s research does not have the statistics to back up his statements, otherwise he should have published them with the article. Please reconsider your subscription, as one author and one opinion should not deter you from otherwise valid financial information. )
Secondly, I have been duped by several MLM scams. The lesson I have leaarned is to RUN AWAY AS FAST AS YOU CAN, and if you can’t just say no, hangup and move on. If it is a family member, friend or neighbor, tell them to talk to you again in a year. Usually they wake up and they are out of it long before this.
Thirdly, good point on WELLS FARGO Liz Gray. In my dealings with them (Six mortgages, three bank accounts – personal and business over eight years, they are dishonest, crooks to the consumer, bureaucratically corrupt and immensely inefficient. I recommend getting away from Wells Fargo as fast as anyone can. Please write for details.
The bottom line from Doc Brown is that there are CROOKS, THIEVES, and SCAMS everywhere (in every country on the planet – by the way). DO NOT GIVE OUT ANY INFORMATION over the internet, telephone, or even in person until you verify the person or business entity to which you are dealing.
Lastly, if you can add and subtract, and want to get out of debt, add up all your debts, pay off the least amount or highest interest debt first, then the next, then the next, etc. Stop spending money on things you don’t need. What you do need is shelter, utilities (electric, gas, water), taxes, vehicle, gasoline, insurance (auto, home, life), food, and basic necessities. Take a break from (impulse) shopping until your debts are gone. This advice is free. It is similar to what you would pay many dollars for on line or on TV. If you want a good advisor on debt reduction/elimination see Dave Ramsey. (www.daveramsey.com)
Be careful out there,
Paul.

By: Leo Rey

Leo Rey — Sun, 08 Mar 2009 14:46:23 +0000

Why are you talinkg about Network Marketing like that? I wonder why Mr Buffet purchase a Network Marketing co. I have to say that we have bad appleas out there no doubt. The Direct Seller industry is powerfull. Who use Network Marketing? all brand names are using it because they are saving big money on advertisement.. Thas how they are getting paid.. sorry about my gramma. I dont need to have a perfect gramma to make six figures in Network Marketing (Direct Sellers)

By: Liz Gray

Liz Gray — Fri, 06 Mar 2009 21:20:18 +0000

If you get paid every two weeks, deposit 1/2 of payment into separate account +10% (maintenance “sinking fund”) then make one payment per month. Search your mortgage book or closing papers to determine the ammount of principal. Make a “prepayment of principal” labeled such with a separate check noting the arcelnumber and address of the property. These few dollars (dinner out 1x/week) will knock a whole year of payments off the far end of the mortgage. This will be more effective than extra payment which is largely interest. Many lenders do not regognize “extra” payment, and will not count two payments in March and April as a reason to miss October and November. Better to save one or two payments in a separate emergency account.
Be very cautious of bank savings accounts. Wells Fargo changed the terms of my savings account. The interest went down to almost nothing, and they took fees from the principal. The final straw — one cent of interest for the quarter, and $6.00 in fees. Obvoiusly, I closed the account. When we opened it the BO (bank official)
promised my mother that her money would be absolute safe…every penny protected by the FDIC.
Apparently that does not apply to the thieves within the system. We never agreed to pay a monthly fee on our joint savings account.
Our cash would have been safer buried in a tobacco tin, than in Wells Fargo. Scared…Oh Yeah. What’s next?

By: Diane

Diane — Fri, 06 Mar 2009 19:16:47 +0000

This article is absolutley the truth about what is going on in the financial world. There are so many scams out there and as the economy gets worse, as it may, more scams will follow.

One scam that has hit my twice in the last couple of months is one that they try to tell you that they have a check in a very large amount, say $500K to $2.5mil. and they have to get it to you right away. Oh, by the way, there is a delivery fee of anywhere between $499 and $525. The check will look real and legit, but you are out the delivery fee if you are taken in by this. Fortunately, I was on to this scam. It is being run out of India and if you ask who it is, they will tell you it is either Richard or Robert Shaw. So be on the lookout. They will have your name, phone number and address.

By: Alexander Wissel

Alexander Wissel — Fri, 06 Mar 2009 14:21:11 +0000

From our understanding, “reverse compunding” is a fancy way of saying you pay more on your mortgage than you have to. IE, changing payment plans to weekly (adding one full payment a year).

The “trick” is that by paying off more than your principle each month, you limit the amount of interest accrued, “paying it off early” miraculous!… Forget the tape, save your money.

By: Noel Horlanda

Noel Horlanda — Fri, 06 Mar 2009 08:12:37 +0000

this article is speaking the truth. In the Philippines one prominent fraudster is breathing alive with fire as if a flame thrower burning everything in its path. Currently there is a congressional investigation going on regarding this matter. However the outcome of the inquisition is still hanging in the air and no positive resolution in sight yet. Thousands of investors had already lost millions of pesos. How long would they wait to regain their hard earned savings? The sad thing is the culprits is still at large and perhaps enjoying the summer sun on a beach somewhere.