Interesting Article on Common Fraud Scheme

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Other official sounding terms are also used, such as “prime bank notes” and “prime bank debentures.”

This artificially increased trading volume has the effect of artificially increasing the price of the targeted security (i.e., the “pump”), which is rapidly sold off into the inflated market for the security by the fraud perpetrators (i.e., the “dump”); resulting in illicit gains to the perpetrators and losses to innocent third party investors.

Be wary of companies that want to send a messenger to your home to pick up money, claiming it is part of their service to you.

For more information: - Heath Care Fraud webpage back to top Redemption / Strawman / Bond Fraud Proponents of this scheme claim that the U.S. government or the Treasury Department control bank accounts—often referred to as “U.S.

Typically, the increased trading volume is generated by inducing unwitting investors to purchase shares of the targeted security through false or deceptive sales practices and/or public information releases.

These documents are frequently referred to as “bills of exchange,” “promissory bonds,” “indemnity bonds,” “offset bonds,” “sight drafts,” or “comptrollers warrants.”

This scheme predominately uses fraudulent financial documents that appear to be legitimate.

While such an invitation impresses most law-abiding citizens as a laughable hoax, millions of dollars in losses are caused by these schemes annually.

The scheme relies on convincing a willing victim, who has demonstrated a “propensity for larceny” by responding to the invitation, to send money to the author of the letter in Nigeria in several installments of increasing amounts for a variety of reasons.

For More information: - Telemarketing Fraud Targeting Seniors back to top Nigerian Letter or “419” Fraud Nigerian letter frauds combine the threat of impersonation fraud with a variation of an advance fee scheme in which a letter mailed from Nigeria offers the recipient the “opportunity” to share in a percentage of millions of dollars that the author—a self-proclaimed government official—is trying to transfer illegally out of Nigeria.

Independently verify the identity of the people involved, the veracity of the deal, and the existence of the security in which you plan to invest.

These documents are frequently referred to as “bills of exchange,” “promissory bonds,” “indemnity bonds,” “offset bonds,” “sight drafts,” or “comptrollers warrants.”

This artificially increased trading volume has the effect of artificially increasing the price of the targeted security (i.e., the “pump”), which is rapidly sold off into the inflated market for the security by the fraud perpetrators (i.e., the “dump”); resulting in illicit gains to the perpetrators and losses to innocent third party investors.

For more information: - Sovereign Citizen Movement - Treasury Inspector General for Tax Administration: Fact Sheet on Sovereign Citizen Movement back to top Investment-Related Scams Letter of Credit Fraud Legitimate letters of credit are never sold or offered as investments.