Oct 10

Gold scammers strike again with guaranteed returns

It seems that interviews about a person’s financial success have been a regular segment in the papers. Question and answer about their success and downfall in the investment world would always be catchy to our eyes. Of course, the answer to success would always be the interviewees’ business, but today it is not because an unknown business success has surfaced. We are talking about a guaranteed return of at least US$100 a day from a capital of US$7,000. How true is that? Now, we wonder how possible it is to earn this much. Where would we invest our money with a daily return? I would really like to do a bit of investigation myself to prove some important points.Newspaper and Calculator

I started entering a few keywords that would link me to my puzzling thoughts. It was a bit tricky because some search engines do not match my keywords. I finally found it through yahoo. There was so much unprofessional evidence in the website. They filled their site with photos of gold being mined and some precious metals being processed. The company clearly wants to show potential gold sellers that they are legitimate through information about mining in Africa. Unfortunately, with all of these details for show, no information on return of investment was there.

How about the CEO? This came up next in my mini investigation. What alarmed me was that there were no matches with the company stated by the CEO and the company he was supposed to be working for. The CEO’s information and important details were not on the web as well.

Public social networks were not exempted on the list. Some illegitimate companies post their fraudulent business advertisements here as well. One is in a foreign language I don’t understand but there were photos of supposed to be “investment portfolio”. The dividend shown per day is at almost 2%. Now who wouldn’t want to have that? But is there really a sure investment such as this?

The media has always been filled with reports like these- success stories of businessmen putting quite a huge amount of money in unknown investments. Even gold for cash traders are added to this roll. Like many, interested investors still opt to gamble without listening to advices and warnings, thus being victims to gold for cash scams.

Sometimes because of the daily news, more people would fall on the hands of the scammers. Advertising articles that talk about successful investments only add up to the many victims that have lost a great amount of fortune. In a few countries, one still has to wait for more scammed targets before being able to take action. Unfortunately, it is not always a fact that an investor has that amount of money to pay for legal services.

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  1. R. C. Laguda

    Times like these, we really wouldn’t know who or what to trust in. It’s getting hard everyday for the rest of us, that’s why a lot of people resort into frauds and scams which affect those honest people who get by earning a living the right way. Gold investors are not exempted from these kinds of scams. The more reserves one owns, the more ill-mannered people who are after what he/she has. If you’ve spent your life working for something and you’ve chose to invest in something like gold, it doesn’t hurt to go an extra mile and take precautions in protecting your valuables. Scammers are getting more intelligent and smoother in their ways, even taking it to the next level by going to social networking sites to advertise their fraudulent business ads. It pays to be careful. Thank you for your article. It really helps.

  2. Abdur Rahman

    Any investment is risky if one doesn’t know all the information of the background. There are thousand deceptive marketing skills to allure you to the deal. What we should do is to investigate before investment which would help in saving your fortune and providing it to the right hands for proper use.

  3. maria suarez

    Times are tough. With the recession rate escalating up and the poverty threshold plummeting down, it’s definitely going to get tougher. In the perfect world, people would strive to earn more, save more and invest more. Sadly, if the bad times bring out the best in some of us, it also brings out the worst in others. Scams, cons, swindles and embezzlement abound. Everyone can fall prey. The best form of defense therefore, is knowledge. If a person is aware of the modus operandi and ways on how to spot a fraud he/she is less likely to be victimized. True, it’s easier to spread lies and rumors in this digital age. However, it’s also as easy to spread the truth. If one is really interested in investing in gold, all they need to do is to take the time, energy and effort to research, study and learn. This way, the protection of their assets is highly guaranteed.

  4. Michelle Castaneda

    Yeah, not all that glitters and shines are gold. Once again, we have to spell out the huge scam happening in this industry. The middle class society must have an understanding the thoroughness of this gimmicks.
    This article must-read for any types of investors to be more focus on the glitches. We must always know that knowledge is power.

  5. Bella

    Almost all of these type of companies who buy your gold are only giving you 10-15% of the total value of the gold, then reselling at a profit. They are not hoarding your gold. They buy it from you at 10% of the value (they buy a $1000 necklace for $100) then turn around and sell it for $500. You can get more money for your gold if you go directly to a jeweler or even a pawn shop where you’ll get 20-30% of the value of your gold. But again, it all depends on the company so please just read the fine print, and ask questions. That’s all you can really do :).

  6. manasa edawrd

    People these days believe almost anything and when you are desperate for cash, that is when people scam you.

    Gold gives guarenteed returns at say 15-20% (as per me) not $100 per day for investment of $7000 .. i.e. is like 500%?? Impossible.

  7. Adnan S. Jatt

    So! The gold market is also not free of scammers. Make sense, though. Investing in shares of gold mining companies can be risky. When search is done, about half of the countries appear to be scam. The best precaution is to do thorough research and then contact real life legitimate companies. Much better is to buy gold bullions and coins. As in this form, one is himself in charge of his gold. This way, we can avoid scamming.

  8. Violet Rocher

    If it’s too good to be true, it probably is. What you did was wise and very intelligent, from checking out the company’s website to doing a background check of their CEO.

    I believe that every first time investor, not just in the gold trading industry must emulate the attitude you had in making investments.

    As for social networking sites, it I really difficult to discern the legitimacy of a gold trading company if you are going to just rely on advertisements, especially on social networking sites.

    The best way is to find other resources on the web that would help one in his investment decisions.

  9. A.Jane

    I like the tip in this article about checking the companies’ CEO. That’s a smart way to double check its authenticity. Always do your homework when you invest. It’s unfortunate that so many people lose their hard earned money to scammers and cheats. Remember, if something seems too good to be true than it probably is!

  10. zakaria

    all the precautions are required when investing the gold, not paying attention to the details can lose as the money, so investors must keep an eye on the latest updates concerning security and other methods of precaution, thanks for the article.

  11. scott

    imagine that you could be grifted and lose all that you hope to gain and everything you have worked for. Remember not to put all your eggs in one basket.

  12. Niloy R.

    It is like a rule, when financial condition is downgraded by the attack of recession, many scammers from all over the world have started their activities by various illegitimate offers to attract people. To avoid such this situation, we should need to follow the reputation of those websites which are expert to deal with golds. These websites can be trusted by talking to the administration or listening to someone who have already invested in those with the appropriate satisfaction.

  13. Kristine Joy Escarilla

    It is always wise to do research on the truthfulness of the existence and credibility of the gold dealers before planning on doing business with them. To be safe you would rather do business with those gold dealers that are known and possess a good reputation. In these times of economic uncertainties, you should all the more be very cautious about this matter since it especially involves your hard-earned money, and not only that but also scammers are even present in gold investments in which they even present themselves in a manner that you can easily be deceived, so it is either they get you or you get them. The key to not being deceived or cheated is knowledge, so know all the facts before diving into any venture.

  14. ghifary kamal

    Earning more is the human’s most desirable dream ever. But it is really tough to attain especially in the highly speculative market. But one can surely get highly benefited by investing on gold. There is no possibility of falling down the price of the gold. However, the value of the money is fluctuating now and then. But be aware of the gold scammers. One can easily trust on the Gold Bullion Bars, this is a guaranteed company as to real.

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