Con Artists' Phone Mischief--Learn How Easy it is to Spot these Investment Scams

--Gold Mines, Coins, Mortgages, Oil Wells, Commodities, and Livestock dominate the Legal Scam offerings by Con Artists, 75% of which are Telemarketed

It seems like killing cockroaches would be easier than eliminating telemarketing con artists. They seem immune. Phone Scams continue, ever on. A ten-foot pole is not long enough to separate one from these quick-buck "deals." Odd, but despite the FTC "No Call Registry," this kind of con artist action still flourishes. Come again, what kinds? Here is a sampling:

> Gold and silver mine investments. The old "dirt pile" scam seems to live forever.
(Sure, "time" is a great teacher, but you've got to recognize that it does kill off all of its students.) Another rip-off signal: claims of new, secret formulas for extracting valuable minerals from closed down, played out mines. These offerings are usually extended by the real renaissance con artist.

> Gold and silver coins and bullion. The "hook" here is usually a promise of safekeeping in the seller's (con artist's) deposit vaults. Most often, when it comes time for the sucker to cash-in his holding and cash-out of the action, he finds that no coins or bullion ever existed in the first place. Do the math. Isn't this a fraud that was obvious right from the beginning? Loopholes in these arguments quickly become nooses. For some reason the gullibility factor in this area is extreme--like expecting to see a trial lawyer with his hands in his own pockets.

> Deferred delivery and leverage contracts. Up-front payment for future deliveries of commodities is most often required for these offerings. These almost always turn out to be phantom commodities which either disappear into the night, or never existed to begin with. If you are ever tempted by such an "investment," stop. Think. If at first you don't succeed, taking up a new career of high wire walking with no net in a circus is not for you.

> Mortgages and deeds to secure debt. The "mark" in this case is tempted by the offer of interest checks, with promise--in case of default--of gaining title to property. Most of this property is so overvalued that it will not cover the cost of the investment. Also, the sucker will usually belatedly discover that the same property was sold to many other investors.
In mortgages and deeds con artists offer you many opportunities to become a self-indulgent, navel gazing victim.

> Livestock and exotic animals. These are offerings to breed and raise herds on the investor's behalf. Exotic birds, such as emus or ostriches, or their eggs, are dangled, too, as desirable investments. The meat, hides, or output (eggs) from these birds is the supposed attraction. Before investing in this kind of venture, try and recall the last time you saw ostrich eggs offered on a restaurant menu.

> New technologies. A new invention, a patent, a new hi-tech service process--these are lures which forever entice. The inside track ("Get in on the ground floor") always seems to tempt investors into big money losses. Con artists' many offered opportunities here provide ample chances for you to get quickly cleaned out and become a drooling head-banger.

> Oil and gas wells Working interests and partnerships are held forth by scam artists as great investments, along with "guaranteed" wild cat wells. Callers often offer an interest in a license issued by the Federal government to obtain the rights to drill. The deals are usually scams. The wells do not exist. Strangely, this is one of the most common con games around. This scam can only show why so many investors are here on this earth for a purpose: to serve as a warning to others.

The quick, shortcut way to insulate yourself from these legal scams--if the No Call Registry doesn't protect you--is to fall back on the wisdom of Murphy's Law: Almost anything is easier to get into than out of.

Nothing is fool-proof to a talented fool.
Hence, the short route to safe cover is to respond to such phone offers with, "Sorry, but I do not deal with telemarketers." And, hang up.