Silence is fraud's best friend. Word of mouth is fraud's worst enemy. Pass the word!TM
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«BACK Trader fraud: truth vs. scamFrom The Dictionary of Financial Scam Terms© An easy-to-understand guide to financial terms used by swindlers.
A trader is a person who buys and sells securities, financial instruments, loans, commodities or other assets either from his own account or on behalf of others or both. A trader may be a broker, a dealer, or a speculator. Depending on the type of trading being done, a license may be required even if the trader is using only his own funds; however, if other people's money is at stake a license to trade is definitely required. The Scam: In a fraudulent investment scheme, the Trader allegedly possesses incredible financial power, agreements with internationally recognized banks, contracts with private investment trusts and and investment houses, and the ability to make enormous profits from modest investments. You are never, ever allowed to see the Trader's contracts as it would "compromise" the Trader. Additionally, during the persuasion phase of a fraudulent investment scheme you are distracted from asking to see any authorizations whatsoever. Financial con-artists (grifters) wrap their scheme with an aura of such secrecy, mystery, and exclusivity that you feel you have been granted a rare privilege by being invited to join the investment pool. You will not do anything to rock the boat. If you are willing to invest extremely large amounts of cash or securities and insist on seeing a license, a phony one may be produced but again you are distracted from following up with outside verification. faq-3/trader «BACK |
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