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Noah Musingku is a Bougainvillean conman. In the late 1990s, he created a highly successful Ponzi scheme called U-Vistract.Facing prosecution from Papua New Guinean authorities, Musingku fled to the Solomon Islands in 2002.
U-Vistract also attracted followers in Australia, Solomon Islands and Fiji. In Australia, a small number of Queensland investors contributed some AUD500,000 between July and October 1999… This drew the attention of the Australian Securities and Investments Commission (ASIC), which stopped the further spread of the scheme and required U ...
All investments carry some degree of risk, but there's a distinct line between a risky investment and a downright scam. Unfortunately, scams are prevalent. According to data from the Federal Trade...
Report the scam. If you feel you’ve been taken advantage of by an investment scam, contact your local banking institution to go over how to best protect and recover your personal finance ...
False claims about a public company’s products and services relating to AI also might be part of a pump-and-dump scheme where fraudsters profit at the expense of unsuspecting investors. AI ...
Profitable Sunrise was a Ponzi scheme that operated between 2012 and 2013, accepting deposits from members and promising returns on investment of 1.5% to 2.8% per business day, thousands of percent annualized. It solicited members around the world, particularly among Christian communities in the United States of America and in Canada.
Phishing scams happen when you receive an email that looks like it came from a company you trust (like AOL), but is ultimately from a hacker trying to get your information. All legitimate AOL Mail will be marked as either Certified Mail, if its an official marketing email, or Official Mail, if it's an important account email. If you get an ...
Get-rich-quick schemes are extremely varied; these include fake franchises, real estate "sure things", get-rich-quick books, wealth-building seminars, self-help gurus, sure-fire inventions, useless products, chain letters, fortune tellers, quack doctors, miracle pharmaceuticals, foreign exchange fraud, Nigerian money scams, fraudulent treasure hunts, and charms and talismans.