04-05-2018, 04:27 AM
Scams are again getting prevalent. The public is being warned of the current investment scams that are attractive particularly for retirees who are looking for a means of income. The scammers promise a 10% interest monthly on the investment. The investor is paid the monthly interest on the 1st and 2nd month. During that time, the scammer convinces the investor to put in more money since he had received the promised interest. In effect, the investor would roll his investment including the interest earned plus some more that he would borrow from friend. On the next month, the scammer had vanished.
Another scam is the mortgage of a vehicle or house. The title is given to the investor on the promise that the mortgaged house is being rented out so it will earn. For a vehicle, it is used in car rental so the investor earns while waiting for the installment of the money he loaned. But the scammer vanishes after receiving the investment.
Another scam is the mortgage of a vehicle or house. The title is given to the investor on the promise that the mortgaged house is being rented out so it will earn. For a vehicle, it is used in car rental so the investor earns while waiting for the installment of the money he loaned. But the scammer vanishes after receiving the investment.