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Author Topic: Beware of beautiful persons offering investment advice  (Read 3935 times)

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Offline Grumpy

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Beware of beautiful persons offering investment advice
« on: September 21, 2022, 02:38:59 PM »
 The most widely used technique among these operations is known as pig butchering, an allusion to the practice of fattening up a hog before slaughtering it. The approach combines some time-tested elements of fraud — such as gaining trust, in the manner of a Ponzi scheme, by making it easy for marks to extract cash at first — with elements unique to the internet era. It relies on the effectiveness of relationships nurtured on social media and the ease with which currencies can be moved electronically.

Typically, fraudsters ingratiate themselves into online friendships or romantic relationships and then manipulate their targets into depositing larger and larger sums in investment platforms that are controlled by the fraudsters. Once the targets can’t or won’t deposit more, they lose access to their original funds. They’re then informed that the only way to retrieve their cash is by depositing even more money or paying a hefty fee. Needless to say, any additional funds disappear in similar fashion.

http://www.propublica.org/article/human-traffickers-force-victims-into-cyberscamming
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Offline Trenchcoat

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Re: Beware of beautiful persons offering investment advice
« Reply #1 on: September 21, 2022, 05:29:37 PM »
There was a crypto scam that went around and probably still is. Articles would appear online stating the vast easy sums that could be made in crypto currency often using purportedly respected prominent people back it - in reality they didn't. Anyhow the article would direct the reader to a crypto trading website. The person would be asked to deposit a £200 - 300 ish to get going. Once staked on the trading platform the person's money would go up in value. This was then the motivation for them to 'inves' more money when asked if they wished to by the sites investment advisors. The investment advisors suggested that they invest a lot more which would likely reap big money for them. So often the person would be hoodwinked into investing thousands of £'s, $'s, etc. Then of course once the money was invested they would miraculously suffer a change in fortune with their investment going down and possibly massive fees added, etc. Long and short their money was swindled. The graphs/figures for the crypto being shown on screen were all fake, they were figures made up by the trading site and manipulated by them. They stated well known crypto, Bitcoin, etc but it was all bs figures. Some were swindled out of tens even hundreds of £,$, etc. Don't know if they ever got their money back. Apparently once the initial money was traded in the platform there was some clause where they couldn't take out the money etc where it went up before they got asked to invest much larger sums.

Obviously those buggered out of many thousands were distraught as they were refusing to give much needed money back that were life savings or saved for retirement, mortgage, etc this that and the other. Kind of a pretty nasty thing to do to people I thought when I heard about it. So e of the comments I read by those conned out of a lot of money you could tell were really distressed so must have been an awful situation for them to have to suffer. How do e people can put others through that and sleep at night I don't know.
"If you make your own bread, then and only then, are you a free man unchained and alive living in pooty tang paradise, or say no and live in Incel island with all the others." - Krimster

Offline Grumpy

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Re: Beware of beautiful persons offering investment advice
« Reply #2 on: July 28, 2023, 10:04:02 AM »
 ‘Romance scam’ woman who stole $2.8m from Holocaust survivor jailed

Peaches Stergo, 36, handed four-year prison term after pleading guilty to charges she swindled 88-year-old man in New York
Ramon Antonio Vargas
Fri 28 Jul 2023 10.38 EDT

A Florida woman who stole nearly $3m from a Holocaust survivor through what authorities described as a romance scam must serve more than four years in prison, a federal judge ruled.

Peaches Stergo, 36, received her sentence on Thursday in federal court in Manhattan, after pleading guilty to wire fraud in April. She was arrested in January on charges that she stole $2.8m from an 88-year-old man who, investigators said, fell for a prolonged ruse which ended in 2021.

That year, the victim was among about 24,000 people who collectively lost more than $1bn to so-called romance scammers, often operating under false online personas and gaining the trust of lonely people seeking companionship on dating websites.

http://www.theguardian.com/us-news/2023/jul/28/florida-woman-romance-scam-jailed
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Offline Chelseaboy

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Re: Beware of beautiful persons offering investment advice
« Reply #3 on: July 28, 2023, 10:19:14 AM »
Your definition of beautiful is rather different than mine  ;D
Just saying it like it is.

Offline Grumpy

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Re: Beware of beautiful persons offering investment advice
« Reply #4 on: July 28, 2023, 10:41:23 AM »
 One of the benefits of old age is failing vision. 8)
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Offline Grumpy

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Re: Beware of beautiful persons offering investment advice
« Reply #5 on: November 22, 2023, 02:45:21 PM »
 According to the FTC's figures, nearly 70,000 US citizens reported romance scams in 2022, netting cybercriminals at least $1.3 billion in the process.

These romance scams typically involve criminal Cassanovas drumming up a rapport with their victims, usually over dating apps, then selling an excuse as to why they need to be sent some money, perhaps for hospital bills, or desperately needing money for an emergency flight home to see a dying relative – you know the ones. If you spot them early, you can even have some fun with them, like this guy.

Pig butchering is a more recent twist on the typical romance scam. It still involves a high degree of social engineering but instead of playing on victims' heartstrings, criminals prey on victims' desire to get rich quickly.

Some involve the traditional formula of making contact, building a bond, and then introducing the scam with a quick "You seem cool, I'll let you in on this crypto opportunity that's made me some serious cash recently…"

Others are a bit more high-tech and involve creating a brand-new beta crypto-trading app to download, which of course is actually just some stealer malware skinned with enough buttons and features to trick users, who download them outside of approved app stores, to enter their financial information.

http://www.theregister.com/2023/11/22/us_cybercops_take_on_pig/
Good women are not cheap
Cheap women are not good
(but they can be a lot of fun)

 

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