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The classic Spanish Prisoner trick also contains an element of the romance scam (see below). Many con artists employ extra tricks to keep the victim from going to the police. A common ploy of investment scammers is to encourage a mark to use money concealed from tax authorities.
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The Internet Crime Complaint Center (IC3) of the FBI received 847,376 reports in 2021 with a reported loss of money of $6.9 billion in the US alone. [10] The Global Anti Scam Alliance annual Global State of Scam Report, stated that globally $47.8 billion was lost and the number of reported scams increased from 139 million in 2019 to 266 million ...
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Grant and Abdallah were accused of having operated KGTA as a Ponzi scheme. The oil purchase orders never existed and KGTA did not sell fuel or oil to its purported buyers, according to the complaint. In classic Ponzi scheme fashion, KGTA allegedly used some of the funds raised from new investors to pay fake returns to earlier investors.
3. Gift Card Scam. Another hallmark of many scams targeting used car buyers is a request for gift cards as payment. When the buyer calls the fake toll-free number, they’re told to purchase gift ...
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