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Another Gold Ponzi Scheme on eBay
K6AZ
Posts: 9,295 ✭
Someone posted about this seller on the eBay boards. He sent the seller certified funds at the end of December and still hasn't seen his ten ounces of gold. This sure reeks like nicmac/bullionone.
Ideal Bullion
Ideal Bullion
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Russ, NCNE
<< <i>You ever notice how many of these slimeballs are "ID Verified"?
Russ, NCNE >>
ID verify is a joke. Just about every scammer I have seen has had it.
A search on ICTA's site shows this seller is not a member. He's "sold" over $1 million worth of bullion in the last six weeks and he is not a member of ICTA?
an important thread and if it at least opens one persons eyes then it will have been well worth it
<< <i>Due to Fraud Risk, All bullion orders are now payable only by money order, United States Postal Service M/O, your banks Money Order, Cashiers Check or Wire Transfer. Sorry, No Personal Checks or paypal. This way you have a record and nothing gets sent until it fully clears. Eliminating losses on anybodys part ever. >>
I guess sending MO's, cashiers checks & wire transfers doesn't completely eliminate fraud risk.
This is kinda tricky scam to see ahead of time, that user has been registered on eBay for 2+ years, and did have 1093 positives, though 25 neg's in the last year (11 of them over 6 months old, would've scared me away. Unfortunately too many people don't pay attention to that.
The big red flag for me would've been the sheer number of auctions for gold that user had up all at the same time, especially since I've read a handful of stories now of people in other countries getting on eBay, putting up hundreds or thousands of auctions for millions of dollars worth of gold and never delivering.
I do feel bad for all the people who got ripped off. Usually I like to place partial blame on the suckers for their complete lack of common sense, but this case straddles that fence IMHO.
Need more $$$ for coins?