Personal Finance

Lost $700k in romance scam :(

  • Last Updated:
  • Feb 13th, 2019 3:56 pm
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Sep 24, 2018
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notenoughsleep wrote:
Jan 24th, 2019 5:26 pm
Plus he's got nothing on this guy.

https://www.scmp.com/news/hong-kong/law ... hong-kongs

"An elderly man was swindled out of HK$580 million (US$74 million) over two years, sources told the Post, as police on Thursday announced the arrest of 14 people over Hong Kong’s biggest ever bullion trading scam."
Now that’s a scam imo :P
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notenoughsleep wrote:
Jan 24th, 2019 5:26 pm
Plus he's got nothing on this guy.

https://www.scmp.com/news/hong-kong/law ... hong-kongs

"An elderly man was swindled out of HK$580 million (US$74 million) over two years, sources told the Post, as police on Thursday announced the arrest of 14 people over Hong Kong’s biggest ever bullion trading scam."
Isnt that more like a ponzi scheme?
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Aug 14, 2007
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$700,000!!??

My first reaction was sympathy... But my second one says he deserves this. He's an idiot, plain and simple.

These people that fall for romance scams are becoming more and more common and funny enough many times are highly educated people (which should say something). You can say lonely this and depressed that and hell I get lonely feelings sometimes but there's literally no way I could ever be a victim of this.

In this day and age unless its someone with a deteriorating mental state then I don't really have any sympathy cause this is just pathetic and ridiculous.

I would say falling for these is worse than falling for a Nigerian scammers game.
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KingKuba wrote:
Jan 22nd, 2019 3:06 pm
Banks will shutdown $500 bitcoin transactions, debit, credit,

But fire away $50k wires to foreign countries that could be funding terrorism/scams...

Complete joke by TD.
A lot of people transfer large sums of money for legitimate reasons, such as building/buying a home in a foreign country. This is what the man told the bank. If banks were to stop transactions like that, then there would be even more serious problems. We had friends that recently purchased a home in Thailand, and this would have been impossible if the bank didn't allow it. Just like when my grandparents purchased a home in Florida.

The joke isn't TD, the joke was this man sending out $700,000 to this woman *man* that he never met, and lying to the bank about what he was actually doing. Had he said, "I am transferring the money to some woman I have never met," the bank would have stopped it.
How can we fly like eagles, when we're governed by Turkeys?
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The thing about wires is you can't do them remotely. You need to be in the branch in person to do them. It's not like other transactions (like a surge of foreign transactions on a credit card) where they automatically freeze something. You're in the branch, they've verified your identity, so it's something you need to do, and you've explained why you are doing it. You're asking them to do it (and in this case lying about the why). That's why it's not frozen like other transactions which can be done anonymously. IF you're in a branch, you've been identified properly, and you're giving a valid reason. They don't much reason or legal recourse to stop you. It's you're money and you're telling them to do it.

I find it odd. This person wasn't that old. A few years older than my parents. I don't think my parents would fall for something like this. They state he was elderly, but your faculties are completely there in you're 60s. Old is now in you're 80s. Maybe one of my grandparents might fall for something like this (if one survives the other). I'm not sure. They always seem to be careful and question things.

At least it never negatively impacted the guy. He passed away before ever finding out it was scam. It's the kid being upset because it killed his inheritance. I find it odd he holds up the bank to a different standard than himself.

Maybe it's time to wind down the wire system and make something new. Anonymous transfer of funds between countries has always been ripe for abuse.
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When it comes to dating and meeting someone new ... Lesson #1:

Think with your head ... and not with your dick / dick head.
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Darkman wrote:
Jan 28th, 2019 2:26 am
When it comes to dating and meeting someone new ... Lesson #1:

Think with your head ... and not with your dick / dick head.
You know, and this is sort of related: They were discussing suicide on TV. As many know, men are more likely than women to kill themselves. Reasons for suicide are typical, serious health issues, financial issues, and heartbreak. When it comes to things like heartbreak, many men are willing to pay serious sums of cash to rid themselves of this. This mans wife had died, he himself was dying of cancer, and really, he probably felt he didn't have much to lose by tossing the scammers hundreds of thousands of dollars.

This man did find a way to alleviate some of this pain. He had a hope of meeting this woman, and he died while he still had that hope. It really sucks for the family, but I gather that kids weren't that involved with his affairs, otherwise he would have ensured the kids would have gotten some sort of inheritance.

I myself have two children. If the kids decide when I am older, and especially sick and dying, not to be there supporting me, then I too might waste away my money on some sort of stupid fantasy if there is a glimmer of hope of dying in some woman's arms. That said, if my children are a real part of my life when I am close to biting the dust, then I'll make sure 100% that they'll get 100% of my assets when I choke.
How can we fly like eagles, when we're governed by Turkeys?
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XtremeModder wrote:
Jan 26th, 2019 8:59 am
I would say falling for these is worse than falling for a Nigerian scammers game.
Hey some have found true love going this route. Lookup Angela from 90 Day Fiance'. Don't ask how I know, perhaps those are married can relate :rolleyes:
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Feb 1, 2018
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jeff1970 wrote:
Jan 28th, 2019 4:36 pm
As many know, men are more likely than women to kill themselves.

More women attempt suicide. More men succeed. Usually the difference is due to typical methods chosen -- men are more likely to choose methods like a gunshot that have low survival rates, while women are more likely to take an overdose of pills, which you can generally survive if you catch it in time and get medical treatment.

Anyway, that point is moot and neither here nor there, as someone who is depressed to the point of being suicidal would, theoretically, not be in a mentally competent place to be making decisions about large sums of money.

This thread has really taken a turn. Scams are just that, scams. Scamsters prey on people who are vulnerable in some way. That doesn't make it the fault of the victim; it's still 100% the fault of the scamster. People like blaming the victim because it makes them feel smug ("I'd never be dumb enough to do that") or because it gives them a semblance of control ("Oh, that would never happen to me because I'd make different decisions"). The truth is that psychological experiments have proven that almost anyone can be swindled or taken in by a good enough scam if it's executed well enough.
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seriesofcontradictions wrote:
Jan 28th, 2019 4:57 pm
More women attempt suicide. More men succeed. Usually the difference is due to typical methods chosen -- men are more likely to choose methods like a gunshot that have low survival rates, while women are more likely to take an overdose of pills, which you can generally survive if you catch it in time and get medical treatment.

Anyway, that point is moot and neither here nor there, as someone who is depressed to the point of being suicidal would, theoretically, not be in a mentally competent place to be making decisions about large sums of money.

This thread has really taken a turn. Scams are just that, scams. Scamsters prey on people who are vulnerable in some way. That doesn't make it the fault of the victim; it's still 100% the fault of the scamster. People like blaming the victim because it makes them feel smug ("I'd never be dumb enough to do that") or because it gives them a semblance of control ("Oh, that would never happen to me because I'd make different decisions"). The truth is that psychological experiments have proven that almost anyone can be swindled or taken in by a good enough scam if it's executed well enough.
Just to be clear, I wasn't suggesting this guy was suicidal. My point was that his health, and the loss of his wife, and likely an estranged relationship with his children, put him in a state of mind with not much to lose. Just an opinion though.

That said, I don't agree that just anyone can be scammed. People being scammed (in cases like this), usually are expecting a return of some sort. Promises of sex, money, relationships, happiness, whatever it is. He got caught up in that.
How can we fly like eagles, when we're governed by Turkeys?
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jeff1970 wrote:
Jan 28th, 2019 7:39 pm
Just to be clear, I wasn't suggesting this guy was suicidal. My point was that his health, and the loss of his wife, and likely an estranged relationship with his children, put him in a state of mind with not much to lose. Just an opinion though.
He wasn't estranged from children, just was secretive and wanted to "surprise" everyone with his new relationship when she arrived in Canada (the surprise was "her" idea of course). He surprised them alright...
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While I'm sympathetic to the surviving family, I don't think the bank is to blame. They did their due diligence. And if they would have taken it up with the children without having a POA in place, they would have been violating their client's right to privacy, and opening themselves up to a lawsuit. They asked questions, got consistent coherent replies, so that's where it stops.

As far as "winding up something new", it seems the next up and coming means of transferring money is likely bitcoins and the like, which is even MORE anonymous than wiring funds. So good luck with that... People value privacy in their financial matters, not transparency.

C
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jeff1970 wrote:
Jan 28th, 2019 4:36 pm
You know, and this is sort of related: They were discussing suicide on TV. As many know, men are more likely than women to kill themselves. Reasons for suicide are typical, serious health issues, financial issues, and heartbreak. When it comes to things like heartbreak, many men are willing to pay serious sums of cash to rid themselves of this. This mans wife had died, he himself was dying of cancer, and really, he probably felt he didn't have much to lose by tossing the scammers hundreds of thousands of dollars.

This man did find a way to alleviate some of this pain. He had a hope of meeting this woman, and he died while he still had that hope. It really sucks for the family, but I gather that kids weren't that involved with his affairs, otherwise he would have ensured the kids would have gotten some sort of inheritance.

I myself have two children. If the kids decide when I am older, and especially sick and dying, not to be there supporting me, then I too might waste away my money on some sort of stupid fantasy if there is a glimmer of hope of dying in some woman's arms. That said, if my children are a real part of my life when I am close to biting the dust, then I'll make sure 100% that they'll get 100% of my assets when I choke.
This is my thinking, it was his method to feel better, for whatever reason, doesnt matter, he was going this route over his kids. There's no other discussion, as I said if a parent says "Yeah Ill burn my money before dying and not give a dime to my kids" thats their business. In this case, the dad knowing he was dying was self medicating by thinking he was doing someone somewhere some good, now he choose not to do this with his kids, thats your red flag right there, so he wasn't close with them.
Chickinvic wrote:
Jan 29th, 2019 2:09 pm
He wasn't estranged from children, just was secretive and wanted to "surprise" everyone with his new relationship when she arrived in Canada (the surprise was "her" idea of course). He surprised them alright...
He knew he was dying.....most parents if they and their kids were close, would do whatever they could to help them, in this case, he preferred a stranger, so a surprise? The guy knew he was dying, choose a stranger over kids. Kid is just mad his easy money train isnt there. As I said if my dad did the same, I wouldnt want it on TV, makes my dad look like hes stupid.
CNeufeld wrote:
Jan 29th, 2019 2:36 pm
While I'm sympathetic to the surviving family, I don't think the bank is to blame. They did their due diligence. And if they would have taken it up with the children without having a POA in place, they would have been violating their client's right to privacy, and opening themselves up to a lawsuit. They asked questions, got consistent coherent replies, so that's where it stops.

As far as "winding up something new", it seems the next up and coming means of transferring money is likely bitcoins and the like, which is even MORE anonymous than wiring funds. So good luck with that... People value privacy in their financial matters, not transparency.

C
+1
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BadSitcoms wrote:
Jan 21st, 2019 3:46 pm
Its hard to believe people get scammed so easily.... wow
There's a sucker born every day.

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