Job Opportunity & Investment Scams

Ponzi schemes. When things sound too good to be true, they usually are. Even if someone is a friend, check out what they are telling you.

Bernie Madoff received the maximum sentence for his crime. Yet, his incarceration won’t bring back the life savings to those that he bilked out of millions of dollars.

He apologized.

“I live in a tormented state for all the pain and suffering I created,” Madoff said. “I left a legacy of shame. It is something I will live with for the rest of my life. Saying I’m sorry is not enough. I turn to face you. I know it will not help. I’m sorry.”

The Securities Investor Protection Corporation already has over $61 million in claims made by nearly 9,000 Madoff investors. The SIPC will also pay up to $500,000 for eligible claimants who lost money to Madoff.  The SIPC works with a trustee in the even that a brokerage firm fails and owes money to investors.  Hardship cases are also being given priority and their claims are being expedited.

The worst part about this is that with so many people out of work, it is possible that there are more similar illegal schemes like multi-level management and Ponzi schemes just looking for more gullible folks to participate. The unemployed need to be wary of “great opportunities” offered by a company seeking salespeople for their products and require that you bring in more people to sell or asking you to refer friends to a great opportunity.

When something is great or horrible you want to tell your friends. It is when things are mediocre that you say nothing. When you have a great experience anywhere you tell others – a great return of your income or a great chance to make more money. Good or bad, check it out.

Investigate on your own, if something doesn’t seem right even if it legitimate, then don’t go any further with a “job opportunity” or investment.  Investments are not mandatory, they are optional. When you want to work and have been out of work for a while, some work opportunities seem great – this does not mean that they are legitimate. With investments, the best option is not to put all of your money into one type of account. Nothing is certain and sincere is are many way that people have spent their money. For a job opportunity ask how much you have to spend in order to get a position. If you are required to recruit a certain number of people or do something that you are uncomfortable with, leave the opportunity.