Wednesday, December 17, 2008

The biggest pyramid scheme of them all... 50 Billion dollars gone

This is arguably the biggest con of all times: It is the pyramid scheme of former stock exchange chairman Bernard "Bernie" Madoff. Over 50 Billion U$ have disappeared, see these BBC reports: 1, 2.
The old adage holds true: If it's too good to be true, it's not true. This should be a wake-up call to all people investing into HYIPs, and other investments that promise high returns. These things are just plain fraud. In case of Madoff, he got away with it for so long, because he "only" offered 10% in return. But as can be seen, even in this case it was a scam.

Telephone and mobile phone SCAMS

Telephone and mobile phone scams are going around.
For example, you may get a phone call saying you won a cruise, and to claim your prize you have to press a number on your phone. This will pass you to a line for which you have to pay dearly - and no prize.
Or you get a short phone call (they don't really wait for you to answer) from some number (e.g., +88213229003) on your mobile. The hope is that you call back - for a hefty fee, of course. These 88213 calls are usually a scam. 88213 is a virtual country code to Telespazio S.p.A. in Italy, see this link. The 88213xxx callers try to lure you to call back, and you would have to pay quite a lot for it (e.g., 9 Euro/min). See also this list of suspicious numbers:
whocallsme.com