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Investments Offshore

How the scam works:

You might come across great opportunities to invest your money, either through a friend or after attending a fancy seminar. This scam is aimed at people in their thirties or forties, who are looking for long term financial security.

You are told that you could be part of the forming of a new offshore bank, while you are also told that you are a very lucky individual to benefit from this. Feeling important as several high-end financial gurus are involved in the project; after a couple of meetings with a group of investors you decide to pitch in $15,000 and be part of the deal.

You will receive brochures and printed materials that will describe the project and - most importantly - you will receive monthly statements that will show your profit. You might even be invited to double your profits by investing twice as much - and you might cough up another $10,000.

All the paperwork looks official, but the scam happens when it is time for the payout. You can’t reach anybody, all the phone lines are disconnected, and all your high-end friends are gone. They are financial gurus, remember? They just invested in people like you, who can give them tens of thousands of dollars for useless but nicely printed-paper.

How to avoid:

If you don’t have experience in investments, never start with the biggest project you can handle. It’s great to feel important, but it’s depressing when you realize you were taken for a ride.

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