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Let the truth be known", the site allows competitors, and not just consumers, to post comments. The Ripoff Report home page also says: "Complaints Reviews Scams Lawsuits Frauds Reported, File your review. Consumers educating consumers", which allows a reasonable inference that the Ripoff Report encourages negative content.
• Don't use internet search engines to find AOL contact info, as they may lead you to malicious websites and support scams. Always go directly to AOL Help Central for legitimate AOL customer support. • Never click suspicious-looking links. Hover over hyperlinks with your cursor to preview the destination URL.
A recovery room scam is a form of advance-fee fraud where the scammer (sometimes posing as a law enforcement officer or attorney) calls investors who have been sold worthless shares (for example in a boiler-room scam), and offers to buy them, to allow the investors to recover their investments. [92]
This type of fraud has been estimated to cost investors $1–3 billion annually. [19] Microcap fraud includes pump and dump schemes involving boiler rooms and scams on the Internet. Many, but not all, microcap stocks involved in frauds are penny stocks, which trade for less than $5 a share.
Learn how to report spam and other abusive conduct.
Mutual Benefits Corporation was a Ft. Lauderdale, Florida based investment sales company that operated a huge ponzi scheme selling viatical settlements, with investors losing an estimated $835 million. The principal ring leader of the scam was Joel Steinger.
In June 2009, the SEC sued Angelo Mozilo, former CEO of mortgage lender Countrywide Financial, and two other former officers, charging that they misled investors about the quality of Countrywide's loans while knowing the company was fueling its growth by letting its underwriting guidelines deteriorate and originating a growing number of risky subprime loans.
On December 21, 2017, the U.S. Securities and Exchange Commission said it had sued luxury real estate developer Shapiro and his Woodbridge Group of Companies for allegedly operating a $1.2 billion Ponzi scheme targeting thousands of investors. According to the SEC’s complaint, Shapiro ran a "sham" business model that allegedly defrauded more ...