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 You are here: Home > Backstage Tour >  Where did my money go?  

 

Fraud Secrets:

A Backstage Tour

Start the Tour here

Why con artists scam:

You're in for a surprise.

Profile of a con artist

What con artists look for:

How scammers chose their victims.

 

Why so few scammers go to jail

How con artists set up their victims:

The 10 steps con artists use to get your money.

What a con artist won't tell you: Questions you can ask a scammer that will make him run from you.

What a con artist will tell you

14 excuses a scammer will give you for not returning your money

Have I been scammed?

The line between a scam and poor business ethics can be hard to determine.

Where did my money go?

How do I find my money?

 

 

WHERE DID MY MONEY GO?

What scammers do with your money.

 

Money acquired by swindlers is quickly transferred to their own accounts or simply withdrawn and put in their pockets. In some instances, particularly in large frauds involving thousands or millions of dollars, the money is laundered before being spent by the swindlers.

When your money has been laundered, it is passed through a system of accounts set up to make the funds appear legitimately obtained.(see MONEY LAUNDERING) If your money has been laundered, you have a chance of recovering a portion through Federal seizure of assets and public auction (NOTE: This does not include money sent to Nigerian or Eastern European-style scammers).  Recovery through the private sector is frequently faster and far more successful.

List of swindler expenses:

1. Putting on the dog. Financial swindlers and their partners need to look extremely successful in order to persuade you about their claims. This means jewelry, expensive clothes, cars, homes, etc.

2. Bribes. Financial swindlers, especially international ones, sometimes have to bribe bank officers, attorneys, law enforcement (sorry, but this is true), and other parties who must be paid to look the other way.

3. Outsidemen. Outsidemen (brokers, intermediaries, agents, mandates) are those who knowingly target you as a potential victim, qualify you as good financial resource, and introduce you to the insideman (the one running the show). These people have to be paid a percentage of the "take."

4. Travel. Also knows as "the getaway." Con artists do not hang around in order to give you a chance to throw them in jail. They are off to the Bahamas, Switzerland, Florida (a popular jumping-off place to the Bahamas), Panama, Belize, Antigua ... I think you get the idea. Preferably a country that does not have cooperative banks and/or extradition arrangements with the country in which you live.

What's left over is spent on pleasure, gambling being at the top of the list. Most con artists have empty pockets within days of perpetrating a scam.

5.  In the case of Nigerian and Eastern European-style scammers, in addition to personal pleasure, real estate, and luxury items, money is put into other criminal enterprises such as international theft rings, drug trafficking, human trafficking, kidnapping rings, electronics, scam ring expenses, and possibly terrorist activities.

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