Tag Archives: scams

Finance

Robert Jain: The Most Common Financial Scams

Have you ever heard of something that is deemed, “too good to be true?” This is the best statement that can be used to describe the many financial scams that exist, which makes sense when you think about how prevalent they can be. Fortunately, the likes of Robert Jain can tell you that these don’t have to happen to you. All it takes is a bit of learning, which you can start off by recognizing these financial scams that are all too typical.

Affinity Fraud – People tend to gravitate more towards those who share similar interests as themselves. This is the idea behind affinity fraud, which hones in on people by appealing to common interests, including ethnics and business endeavors. This is why it’s important for the average person to be mindful of such personalities. Not everyone is who they seem, as names like Robert Jain CS will be able to agree.

Embezzlement – Anyone who has ever operated a business has probably been warned about the possibility of this scam. Embezzlement refers to the spending of company funds, by the person operating said funds, for their own personal needs. What this means is that the utilities required by said company might not be used to the fullest effect. Stronger hiring strategies would be required in this instance, which Bob Jain CS and others can support.

Ponzi Scheme – When one group is put ahead of another, time after time, instability is the end result. Ponzi schemes occur when a certain group of investors put in money, for said amount to be used in order to pay a previous group of investors. This cycle continues until, ultimately, the structure collapses on itself. The best advice that can be given to those concerned about falling into Ponzi schemes is to carefully research where your money is going.

Of course, these are just a few of the financial scams that exist in the world. However, they are among the most common, which is why it makes sense to learn as much about them as possible. By doing so, you will be able to avoid the tricks that fraudsters pull, resulting in a stronger financial situation for yourself by proxy. While these scams are troublesome, you can clearly see that they do not have to happen to you.

Contact Bob Jain Credit now for more financial help from Robert Jain Credit.. Free reprint available from: Robert Jain: The Most Common Financial Scams.

Finance

Bates Victims Continue Even After Receivership

The man and his company have been put into receivership in federal district court in Tennessee because enough customers and potential customers finally caught on to their essential dishonesty. And the resolution of an $80-million class-action suit against Bates and FAMC still hangs over them like the sword of Damocles.

Despite the weight of this legal action, it appears that a lot of individuals are still reeling from the effects of being cheated by Bates before his business ended.

Two of these stories we’ll share here. A dear woman from Kansas contacted Anne Trimble, our principal, recently after her father passed away. She was helping to get her mother’s affairs in order and came across some invoices from FAMC from 2009.

Without telling their children, this couple had been motivated to send Bates’ company a half-million dollars of their hard-earned investment funds, which they had cashed in to purchase precious metals from FAMC. And ” you guessed it ” as of this writing they are still waiting for the metals to fulfill most of their purchase.

These individuals got just a few gold coins as proof of their purchase. Although one could argue that they did ask FAMC to save their metals for them, I find it curious that FAMC simply can’t find a way to produce them now?

Then there is the story of a woman which deals with taking care of a quadriplegic kid, who was provided a significant amount of money as recompense for an accident that affected his life. In 2008, they provided Larry Bates a few hundred thousand dollars as an investment, but they never received any precious metals in return for their money.

Together, in today’s metal’s prices, these two cases of fraud cover about $4 million.

By this point, it is probably becoming abundantly clear to you that the entire business model of FAMC is comparable to the infamous Ponzi scheme pulled off by Bernard Madoff. Although Bates’ clients were scammed in lots of ways, what really upsets me is the front he used as a Christian financial planner and service, a deliberate ploy to appear to be someone of the Christian faith who could be trusted.

Anne continues to be horrified as she hears such devastating stories. Besides the raw sin involved, it reminds her of how she herself was victimized by another businessman who had claimed to be a Christian.” He stole a half-million dollars, and the ministry operated by Anne and her husband, Jay Trimble, more than 20 years ago. She recounts that story in her biography, Faith Through the Flames.

Want to find out more about precious metal investing, then visit Anne Trimble’s site on how to buy gold and silver.