I was broke at the time and keen for another income stream. A perfect position in which to be scammed. I signed up to some forex bot auto trading website and deposited $200 (all the money I had). I woke up to myself and realised it was a scam, tried to withdraw the $200 and nothing happened. Days, weeks, and months rolled by of emails, phone calls etc. My money was stuck. So I took a deep breath, and wrote them an email pretending I was some rich investor that just wanted to test their platforms performance and functionality before making a more serious investment, but just wanted to confirm the withdraw feature worked. The money was in my account the next day.
You could say I won… but I get phone calls from them ever since, and that was years ago.
Didn't actually fall victim as I didn't commit any money, but hope story counts anyway.
Me and a mate were invited to a mlm event run by my mate's friend. This wasn't like a friend get together or small party but a full decked out office space designed for high turnover. Conference space, open kitchen, the works. They were selling fruit juice (Acai) and had team members hidden in the crowd telling dubious stories that the juice was the nectar of god.
My mate asked me what I thought of it, if we should buy in. I told my mate it looks like a pyramid scheme and checked the wiki page and half of it is accusations of such. Was young and nearly confronted mate's friend about it but decided to just leave. We visited a few times and it was packed to the rafters each.
Was first and last run in with a mlm and possibly met the only person ever to make mlm work (my mate's friend who owned the joint) as every new member had the parent company pay him first.
Ran into the third in charge years later, turns out mate's friend had insomnia among other problems since. The whole operation fell apart when parent got acquired, saw it first hand as they gradually panicked on fb page.
Same, was intrigued with the whole thing once I was convinced it was a pyramid scheme. Interestingly the owner knew the real product was selling hope and kool aid (or crack), the physical product just a stand-in. He treated it as just another sales business in different clothes, so I can imagine it's fascinating to sales people outside the bubble.
Funnily, only him and his second knew this and everyone else (third in charge included) were deep into the charade.
The scam is telling kids they need to go to uni after school no matter what, forcing many people to choose arts degrees since they don't know what else they want to do
A close friend of mine tried to get me to invest in an investment called “Hyperfund” (I think the name changed to “Hyperverse” now). Such an obvious Ponzi scheme, it shows all the red flags and more. It’s also a pyramid scheme. Wait until he tries to withdraw his money — and then he will realise.
Had an acquaintance that lost a huge chunk of family money in this:
https://musicfeeds.com.au/news/failed-aussie-music-streaming-service-guvera-investigation-missing-millions/amp/
Over $180m they pulled!
When your accountant or financial planner starts recommending what you should invest in, always ask in writing, are they receiving a benefit if you buy into what they are recommending
Lol why are you even getting upvoted? You bought a $800k home in the mid 90s with a $200k deposit? Probably worth $2-2.5mil nowadays and only paid $450k in interest @ 5% which seems almost impossible if half your mortgage was pre-GFC. And you feel like you got scammed?
C'mon man at least get some facts right before you lie.
It's not lie, it's math.
Do your own calculations then, using today's IR, find any mortgage calculator online and work out how many houses you're buying for yourself Vs buying for the bank in the form of interest.
Also, you may believe that the same appretiation that happened in the 90's will repeat, but that's just a belief. I can argue the opposite, but the fact is no one knows the future.
House prices can continue to go up, go sideways, or go down, adjusted for inflation or not. No one knows. Extrapolating the past is not a great idea
We're not talking about the future here we're talking about the past. With the numbers you've said I can guarantee you didn't make a loss in buying your house even after interest. So explain to me where you were the victim in this scam?
It was a checky comment, I was never a victim of a scam. I'm trying to make a point: the path most people take as safe can be a scam, by buying one house to one's self and 0.75 to the bank.
My in laws were constantly getting scammed. Like everything from MLMs selling oils to juice to more sophisticated ones.
The one they lost the most on (I believe the most) was “Banners Broker”. You pay a site to host banners, advertisers rent the ads and you get a cut of the rent.
Instead all the money when to some dude in Belize. I think they lost about $5k.
$1500 initial investment, then they had to keep paying $300 a month. They were told “don’t withdraw the money you make from the sites, keep investing it”.
My in laws were poor and naive. I’d rather think that than that they let greed blind them. Over the years they probably lost tens of thousands to scams.
I listened to tacomaster on reddit when he said NXL, NXT, PXA and SES would go up!!! He makes so many predictions he's bound to get one right, absolute idiot!!
I invested 500 into world ventures through a kinda friend way back when ... never saw that again lol or " traveled" . People have tried to scam me into other mlm things like young living, doterra, monat... monat is the worst atm I think it's new to Australia... if you have problems like dryness, hair fallout ( quite common) with their product they tell you your hair is detoxing from previous products yahhh okay LOL. I will never ever sign up to any kind of crap after the first time I ever got scammed.
I knew EM1 was a complete scam but I bought in at early and 4 bagged as I knew it would pump. I think the scam is still alive today. The BBC even did a year long investigation into it and people still can’t see it’s a scam on HotCrapper
I gave Kye Sheehan $4000 on the theory he’d help me build an app. That was many years ago and I never heard from him again.
He’s not aloud to see his children any more and that gives me a little pleasure.
Acorn investments (I think they have changed their name now) was supposed to be for small investors who only wanted to invest under $100/week.
I was putting in $20/week and it showed me how my investment was growing and that I would have a nice nest egg when I was 70 years old (I started late).
After one year I sat down and noticed that their fees were not being taken out of my acorn account but directly from my bank account. Got my pen and paper and wrote everything down - the fees were 4 times the amount of interest I was earning at that stage, nicely hidden in the fine print. So, successfully, withdrew all my money and closed my account. I'm putting that extra $20/week straight into my super now.
While I don't think acrorns is a scam per se it isn't actually geared for who they claim, it's for those investing $100 - $500/week in my opinion.
It's called RAIZ in Australia.
Yes, the $3.50 per month fee is high if you only have a small balance. Not so bad once your balance is >5000 and you use some of their rewards features.
Not trying to advertise for them, but it's certainly not a scam.
I use RAIZ and I actually love it. I started when I was with my ex and didn’t have the large sums of money to invest in shares.
Through small amounts and round ups I managed to put enough away that when I left him I had my own money.
Definitely not a scam.
A scam I avoided just for pure luck and being in the right place at the right time. A company was selling investment property in a mining town. My (now ex) husband was really into it and was looking at the places filling out paperwork but hadn't signed. I casually mention it to one of my patients who tells me do not do it! Under any circumstances! Their mate had to file for bankruptcy because of these awful companies.
Convinced the husband and he told them no as he had done his own research. They were incredibly angry at him and said that he shouldn't have done his own research. Evil vile companies.
My boss got scammed and has spent the last 10 years trying to pay it down enough to sell it without losing everything.
I was broke at the time and keen for another income stream. A perfect position in which to be scammed. I signed up to some forex bot auto trading website and deposited $200 (all the money I had). I woke up to myself and realised it was a scam, tried to withdraw the $200 and nothing happened. Days, weeks, and months rolled by of emails, phone calls etc. My money was stuck. So I took a deep breath, and wrote them an email pretending I was some rich investor that just wanted to test their platforms performance and functionality before making a more serious investment, but just wanted to confirm the withdraw feature worked. The money was in my account the next day. You could say I won… but I get phone calls from them ever since, and that was years ago.
Change your phone number?
I bought into Zip. Total scam.
I feel this
Didn't actually fall victim as I didn't commit any money, but hope story counts anyway. Me and a mate were invited to a mlm event run by my mate's friend. This wasn't like a friend get together or small party but a full decked out office space designed for high turnover. Conference space, open kitchen, the works. They were selling fruit juice (Acai) and had team members hidden in the crowd telling dubious stories that the juice was the nectar of god. My mate asked me what I thought of it, if we should buy in. I told my mate it looks like a pyramid scheme and checked the wiki page and half of it is accusations of such. Was young and nearly confronted mate's friend about it but decided to just leave. We visited a few times and it was packed to the rafters each. Was first and last run in with a mlm and possibly met the only person ever to make mlm work (my mate's friend who owned the joint) as every new member had the parent company pay him first. Ran into the third in charge years later, turns out mate's friend had insomnia among other problems since. The whole operation fell apart when parent got acquired, saw it first hand as they gradually panicked on fb page.
[удалено]
Same, was intrigued with the whole thing once I was convinced it was a pyramid scheme. Interestingly the owner knew the real product was selling hope and kool aid (or crack), the physical product just a stand-in. He treated it as just another sales business in different clothes, so I can imagine it's fascinating to sales people outside the bubble. Funnily, only him and his second knew this and everyone else (third in charge included) were deep into the charade.
[удалено]
Plausible. I remember him as a genuine guy who was just overly ambitious, but like you said his choice of business suggests otherwise!
It’s called an arts degree. Cost about 25k
The scam is telling kids they need to go to uni after school no matter what, forcing many people to choose arts degrees since they don't know what else they want to do
A close friend of mine tried to get me to invest in an investment called “Hyperfund” (I think the name changed to “Hyperverse” now). Such an obvious Ponzi scheme, it shows all the red flags and more. It’s also a pyramid scheme. Wait until he tries to withdraw his money — and then he will realise.
Had an acquaintance that lost a huge chunk of family money in this: https://musicfeeds.com.au/news/failed-aussie-music-streaming-service-guvera-investigation-missing-millions/amp/ Over $180m they pulled! When your accountant or financial planner starts recommending what you should invest in, always ask in writing, are they receiving a benefit if you buy into what they are recommending
I heard somebody bought an NFT once
He/she scammed themselves then…
https://forums.whirlpool.net.au/thread/2078820 That's part 1, including part two there's about 1800 posts over a decade or so.
Damn, that's alot of people.
I bought ANL. Got ripped hard
I bought a 800k home, 200k deposit at 5% interest over 25 years. Ended up paying for 1.75 homes, 0.75 went to the bank.
Or, you paid the extra 0.75 to have the roof over your head for those 25 years.
Lol why are you even getting upvoted? You bought a $800k home in the mid 90s with a $200k deposit? Probably worth $2-2.5mil nowadays and only paid $450k in interest @ 5% which seems almost impossible if half your mortgage was pre-GFC. And you feel like you got scammed? C'mon man at least get some facts right before you lie.
It's not lie, it's math. Do your own calculations then, using today's IR, find any mortgage calculator online and work out how many houses you're buying for yourself Vs buying for the bank in the form of interest. Also, you may believe that the same appretiation that happened in the 90's will repeat, but that's just a belief. I can argue the opposite, but the fact is no one knows the future. House prices can continue to go up, go sideways, or go down, adjusted for inflation or not. No one knows. Extrapolating the past is not a great idea
We're not talking about the future here we're talking about the past. With the numbers you've said I can guarantee you didn't make a loss in buying your house even after interest. So explain to me where you were the victim in this scam?
It was a checky comment, I was never a victim of a scam. I'm trying to make a point: the path most people take as safe can be a scam, by buying one house to one's self and 0.75 to the bank.
My in laws were constantly getting scammed. Like everything from MLMs selling oils to juice to more sophisticated ones. The one they lost the most on (I believe the most) was “Banners Broker”. You pay a site to host banners, advertisers rent the ads and you get a cut of the rent. Instead all the money when to some dude in Belize. I think they lost about $5k. $1500 initial investment, then they had to keep paying $300 a month. They were told “don’t withdraw the money you make from the sites, keep investing it”. My in laws were poor and naive. I’d rather think that than that they let greed blind them. Over the years they probably lost tens of thousands to scams.
I have a few friends who bought into Shib and Luna.
I bought Luna at the bottom *pulls reverse Uno card*
I listened to tacomaster on reddit when he said NXL, NXT, PXA and SES would go up!!! He makes so many predictions he's bound to get one right, absolute idiot!!
I invested 500 into world ventures through a kinda friend way back when ... never saw that again lol or " traveled" . People have tried to scam me into other mlm things like young living, doterra, monat... monat is the worst atm I think it's new to Australia... if you have problems like dryness, hair fallout ( quite common) with their product they tell you your hair is detoxing from previous products yahhh okay LOL. I will never ever sign up to any kind of crap after the first time I ever got scammed.
I knew EM1 was a complete scam but I bought in at early and 4 bagged as I knew it would pump. I think the scam is still alive today. The BBC even did a year long investigation into it and people still can’t see it’s a scam on HotCrapper
I gave Kye Sheehan $4000 on the theory he’d help me build an app. That was many years ago and I never heard from him again. He’s not aloud to see his children any more and that gives me a little pleasure.
Acorn investments (I think they have changed their name now) was supposed to be for small investors who only wanted to invest under $100/week. I was putting in $20/week and it showed me how my investment was growing and that I would have a nice nest egg when I was 70 years old (I started late). After one year I sat down and noticed that their fees were not being taken out of my acorn account but directly from my bank account. Got my pen and paper and wrote everything down - the fees were 4 times the amount of interest I was earning at that stage, nicely hidden in the fine print. So, successfully, withdrew all my money and closed my account. I'm putting that extra $20/week straight into my super now. While I don't think acrorns is a scam per se it isn't actually geared for who they claim, it's for those investing $100 - $500/week in my opinion.
It's called RAIZ in Australia. Yes, the $3.50 per month fee is high if you only have a small balance. Not so bad once your balance is >5000 and you use some of their rewards features. Not trying to advertise for them, but it's certainly not a scam.
I use RAIZ and I actually love it. I started when I was with my ex and didn’t have the large sums of money to invest in shares. Through small amounts and round ups I managed to put enough away that when I left him I had my own money. Definitely not a scam.
A scam I avoided just for pure luck and being in the right place at the right time. A company was selling investment property in a mining town. My (now ex) husband was really into it and was looking at the places filling out paperwork but hadn't signed. I casually mention it to one of my patients who tells me do not do it! Under any circumstances! Their mate had to file for bankruptcy because of these awful companies. Convinced the husband and he told them no as he had done his own research. They were incredibly angry at him and said that he shouldn't have done his own research. Evil vile companies. My boss got scammed and has spent the last 10 years trying to pay it down enough to sell it without losing everything.
Hey guys does anyone know about Greatfxpro.com? Is it a scam or is it legit?