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Bank debenture scam artists promise high
returns in a short period of time. They offer "bank guarantees"
issued by "prime banks" (top 100 banking institutions) which
through several trades would multiply in value; this is called a
"roll program". The goal is to have an investor send money to a
foreign bank in control of the con artist. The victim's money is
then used by the criminal or is laundered.
Agencies such as the FBI, the SEC, the ICC
and the Comptroller of the Currency say that any scheme that
claims to yield more than 20% a year should ring alarm bells.
As the saying goes: "If it appears too good to be true, it
probably is" |
