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Beneficiary

Truth:

One who benefits.  The beneficiary is the payee (the one who is paid the designated funds)  on a CHECK, DRAFT, LETTER OF CREDIT, or other CREDIT INSTRUMENT.

Scam:

Scammers are adept at convincing their targets into handing over money that will supposedly be leveraged into a large-sum credit instrument on which the Beneficiary is a group or person or attorney, or anyone except the target.

The target is led to believe that the instrument will be used to return enormous profits, the majority of which will be given to the target.

The target never sees his money again and is usually subjected to about 2 years worth of excuses before he gives up and admits he's been scammed.  For a list of excuses see The 14 most common excuses used by swindlers for not returning your money.

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