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In July 2005, a skeptical investor began asking questions about Bayou's auditor and assets. Soon afterward, Israel shut down the fund. In mid-August, the investor picked up a redemption check from Marino–only to have it bounce. When he returned seeking answers, he found an empty office and a note from Marino admitting that Bayou was a fraud. [5]
NCFE, a private corporation, suddenly collapsed along with its subsidiaries in October 2002 when investors discovered that the companies had hidden massive cash and collateral shortfalls from investors and auditors. The collapse caused investor losses exceeding $2.6 billion and approximately 275 health-care providers were forced to file for ...
A recovery room scam is a form of advance-fee fraud where the scammer (sometimes posing as a law enforcement officer or attorney) calls investors who have been sold worthless shares (for example in a boiler-room scam), and offers to buy them, to allow the investors to recover their investments. [92]
What do email phishing scams look like? They're not as easy to spot as you'd think. These emails often look like they're from a company you know or trust, the FTC says.
Aman Futures Group (simply referred as Aman Futures) was an investment and privately held company based in Malaysia with branches in the Philippines. [1] It has also been allegedly engaged in a pyramid scheme. [2] [3] The group was founded by Manuel K. Amalilio, a Filipino of Malaysian descent.
Even “Shark Tank” investors get bitten sometimes. In the case of Mark Cuban, it appears to have been to the tune of $1 million after the billionaire investor was apparently the victim of an ...
Phishing scams happen when you receive an email that looks like it came from a company you trust (like AOL), but is ultimately from a hacker trying to get your information. All legitimate AOL Mail will be marked as either Certified Mail, if its an official marketing email, or Official Mail, if it's an important account email. If you get an ...