Watch out for Financial Scams
Twice
this week my firm has been solicited by e-mail to help two different
widows, both of whom lost their husbands to "bad guys" who
apparently still run the respective countries, to help "save"
or "retrieve" fortunes that they can't touch without our
help.
The e-mails were labeled
"Business Investment" and "Immediate Response
Required." "I am Mrs. Maria Vusi, wife
of late Anthony Vusi who was murdered by the Zimbabwean veterans and
irate black people," starts one letter. "I am MRS MARIAM
ABACHA, wife of the late Nigeria Head of State, General Sanni Abacha
who died on the 8th of June, 1998 while still on active duty,"
begins the other. One
has a fortune worth $18 million, the other has one worth $25 million,
that oddly enough, only we can help save!
I sent
both c-mails to the Florida Department of Agriculture and Consumer
Affairs to see what the official stand is on these solicitations.
According to Susan Counts at DOACS, financial scams are thought to be
between the third and fifth largest industries in Nigeria!
There
are many legitimate businesses in Nigeria, but we are talking about
scams here. According to Counts, “The scam operates as follows:
the target receives an unsolicited fax, e-mail, or letter concerning
Nigeria containing either a money laundering or other illegal
proposal. Common variations on the scam include: 'over invoiced' or
'double invoiced' oil or other supply and service contracts where
your Bad Guys want to get the overage out of Nigeria; crude oil
and other commodity that needs to be 'chemically cleaned' before
it can be used and he needs the cost of the chemicals.
"Or
the victim will just be stiffed on a legitimate goods or services
contract. The variations are very creative and virtually endless. At
some point. the victim is asked to pay up front an advance fee of
some sort. be it an 'advance fee, 'transfer tax, performance bond: or
to extend credit, grant COD privileges, whatever. “
“If
the victim pays the fee, there arc many 'complications' which require
still more advance payments until the victim either quits, runs out
of money, or both. If the victim extends credit etc. he may also pay
such fees ('nerfund,' etc.), and then he is stiffed with no
effective recourse."
This information is from
the 419 Coalition. a group based in Harrisonburg. Va. Its
home page is at
According to the group.
there are five rules for dealing with any Nigerian company:
1. Never pay anything up
front for any reason.
2. Never extend credit
for any reason.
3. Never do anything
until the check clears.
4. Never expect any help
from the Nigerian government.
5.
Never rely on your government to bail you out.
Oddly, both letters
offered us 20 percent of the "held" funds, with 5 percent
to be used for expenses if we "helped" free the "frozen'
funds. Some industry!
George
Mindling ©
2002
