Is there something Aussie hate more than being scammed or ripped off? Well maybe there is but this is where I will be writing about them, exposing the con artists and companies willing to get innocent people to part with money they usually cannot afford.
My first target will be about one of my loves, Horse Racing, and don’t the scam artists love trying to get a dollar out of US? Read up people
Sports investment scams
- What are sports investment schemes?
- Computer prediction software
- Betting syndicates
- The sales pitch
- Warning signs
- Protect yourself
- Do your homework
- Report
What are sports investment schemes?
Sports investment schemes can include computer prediction (betting software) or betting syndicates. Salespeople try to convince you that their foolproof system can guarantee you a profit on sporting events like football or horseracing.
These schemes are often camouflaged as legitimate investments when they are merely just a form of gambling and, in many cases, outright scams.
They can cost over $15 000 and some also require ongoing payments. Once money has been paid, most of them do not work as promised and buyers can’t get their money back or in many cases the supplier simply disappears.
Ask yourself: If these systems produce a guaranteed, risk-free profit, why are they trying to sell the scheme to me instead of using it to make millions themselves?
Computer prediction software
Computerised gambling systems are software programs that promise to accurately predict results, usually of sporting events such as team sports, horse races or even share market movements, and promise high returns or profits.
Team sports betting programs claim to identify opportunities based on historical trends and the different odds offered by various bookmakers to provide an arbitrage opportunity where you never lose.
Scammers selling horseracing software say that predictions are based on weather conditions, the state of the horse, the draw or the condition of the jockey. They also claim to track the money that may have been placed on a race by professional betters.
Software that claims to predict share price movements are also commonly promoted by scammers. While there are legitimate software programs that track share prices, any claims of accurately predicting movements should be treated with extreme caution.
You may be promised equipment like special calculators, a program on a disk, newsletter subscriptions or entire computer systems.
Often the information used in these programs can be obtained from the betting pages of your local newspaper at very little cost.
People who have purchased computer betting software report:
- the software does not work as promised
- low or no returns are received
- the company cannot be contacted or refuses to deal with problems or inquiries.
Ask yourself: How can a machine predict a result where luck or unforeseen events are involved?
Betting syndicates
Another common approach used by scammers is to get you to become a member of a betting syndicate. Members are required to pay a fee (often in excess of $15 000) to join. They are also required to open a sports betting account and make ongoing deposits to maintain the balance.
The promoter says they will use funds in that account to place bets on behalf of the syndicate. Syndicate members are promised that they will receive a percentage of the profits.
People who invest in these syndicates often report:
- money being withdrawn from their account with no bets being placed
- receiving nothing in return for their investment
- being unable to withdraw money from the syndicate
- companies aggressively demanding more money
- companies disappearing with all money invested.
The sales pitch
These schemes are usually promoted as business opportunities or investments at trade fairs, shows or via the internet. Promoters also use unsolicited mail, email or phone calls.
Promoters often target small business operators, professionals, retirees or others with funds to ‘invest’.
Scammers use terms like sports arbitrage, sports betting, sports wagering, sports tipping or sports trading to make these scams look like legitimate investments.
Promotional material often takes the form of glossy and sophisticated brochures or websites that contain graphs or diagrams promising large returns for little or no effort.
Promoters may also claim that their company is registered with the Australian Securities and Investments Commission. Don’t let this fool you—registering a business and creating a professional-looking website are cheap and easy to do.
Warning signs
- You are promised huge returns and risk-free profits.
- Promoters will use financial terms like ‘trading’, ‘investment’, ‘arbitrage’, ‘recession proof’, ‘managed fund’ or ‘tax free’ to try to sell gambling schemes.
- You are frequently called by telemarketers trying to pressure you into buying.
- The sales pitch is accompanied by promotional material, such as glossy brochures and graphs showing extraordinary returns.
- You are told that places are strictly limited and you need to buy now to secure your spot in the syndicate or software package or you will miss out.
- When the system doesn’t work, you are told that you are using it incorrectly and that you are not entitled to a refund.
Protect yourself
- Be wary of high pressure and slick sales techniques. Do not let anyone push you into making decisions about money or investments—always get independent financial advice.
- If you receive a call from a salesperson trying to sell you a sports investment ‘opportunity’—just hang up!
- List your numbers on the Do Not Call Register to stop calls from most telemarketers.
- There are no guaranteed get rich quick schemes—the only winners are the scammers.
- Don’t be enticed by reports of past performance or graphs showing high returns. Scammers lie!
- Be wary of investments promising a high return with little or no risk.
- Make sure you know how to stop any subscription service you sign up to.
- Remember: no-one can guarantee that you will make money by gambling.
Explore SCAMwatch to find out more about scams and tips on how to protect yourself.
Do your homework
Ask yourself: Why would someone sell me a system that can guarantee them a profit if they keep it for themselves?
Be on the look out for ongoing costs. Many systems require you to open a betting or trading account and maintain a minimum balance. If the prediction you rely on is not correct, you have to keep pumping money into the account.
Be wary of high pressure and slick sales techniques. Promoters of these products are often highly skilled in closing the deal and getting you to part with your money.
Check out the registered office of the company selling the product, often these can be car parks or post office boxes and no real office exists.
Download our Sports investment scams fact sheet for more information on sports arbitrage, sports betting, sports wagering, sports tipping or sports trading. These terms are often used to promote sport investment scams.
If you still think that the product sounds like it could work, seek independent advice from a solicitor or financial adviser about the viability of the product and the purchase contract/terms and conditions. ‘Money-back guarantees’ may have strings attached.
Report
If you think you have been exposed to a sports investment scam, visit the report a scam page on SCAMwatchto find the most appropriate agency to contact. You can also call the ACCC Infocentre on 1300 795 995.
What to do if you’ve been scammed; Scams & the law; Report a scam.Victim story: Alan was pressured into buying software that promised him huge returns from betting on the horses. The software didn’t work and the only winner was the scammer.Similar scams:
Unsolicited phone calls pushing high-return and high-risk investments, often in overseas markets. The callers sound professional but are not licensed in Australia.Spam email or strange phone messages that urge you to buy shares in a thinly-traded company. The scammers wait until their victims invest before selling their own stock at a profit.High-pressure sales in high-risk investment strategies. Scammers profit through attendance fees and by selling property and investments at inflated prices.You are offered early access to your superannuation (‘early release’), often through a self-managed super fund. The scammers take a large part of your super for themselves, and put you at risk for accessing your super in an illegal way.
RE: CHANGE OF ACCOUNT ON YOUR CONTRACT PAYMENT/PLEASE CONFIRM NOW
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Mallam Lamido Sanusi Lamido drleo_benn@yahoo.fr to c-b-n2011
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From: Mallam Lamido Sanusi Lamido
THE EXECUTIVE GOVERNOR CENTRAL BANK OF NIGERIA (CBN)
CENTRAL BANK OF NIGERIA
TINUBU SQUARE VICTORIA
ISLAND LAGOS NIGERIA
OFFICE OF THE GOVERNOR
CONTRACT #: MAV/NNPC/FGN/MIN/2011
FOREIGN REMITTANCE
Our Ref: CBN/IRD/CBX/021/092011
TEL: +234 80 255 35 865
TEL: + 234 1 408 2439
Dear Client.
This is to notify you that you’re over delayed inheritance fund valued at US$15.5Million will be released to your nominated bank below as directed by your representative’s Account who came to our BANK yesterday which was in accordance with instruction from the Federal Trade for remittance of the said fund.
In view of this present development, we wish to inform you that your contract fund has been stated for immediate remittances but action is on your contract payment following a change of account application filled in by one Mr. George Adams with the new account details as follows: Hong-kong-shan ghai bank corps Grand-London England: Beneficiary: George Adams: Account NO: 001-229-221: This account information which was submitted by George Adams did not come.
However, the Senate committee on foreign payment in its last meeting with the Governor, Deputy Governor central bank of Nigeria gave a final approval for the immediate payment of all the foreign contractors who for long executed their contract in Nigeria without receiving their contract payment. Also the beneficiary has to off set the COST OF TRANSFER (C.O.T) $850 only. And if the beneficiaries consider it not worthy, he/she should please ignore this message. Because any insubordination will not be tolerated.
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As a matter of fact above is the account submitted by your representative and
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Mallam Lamido Sanusi Lamido
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OH…!!! DEAR OLD NAN HAS REMEMBERED ME??????????????
I JUST KNEW SHE HAD MONEY SOMEWHERE WHEN SHE PASSED AWAY 20 YEARS AGO!!!
hehehehehehehehehehehehehehehheheheh……………….
Robbo ,
There is a whole lot of Sports Arbitage Scams and Horse Racing Systems , Lay Betting Scams and Police corruption thats been coming out of Qld and the Gold Coast in particular for many years now .
Innocent People are being targeted all over Australia and N.Z. and all the relevant authorities , protection agencies , as well as the mainstream media are doing nothing about this .
The QLD fraud squad have been pretending for many years that they will be doing something about it yet these scams always continue
A great website and forum which exposes a lot of this is
http://www.arbforum.co.uk/cgi-bin/yabb2/YaBB.pl?board=Seymour
It lists and has detailed information on the many scams which have been coming out of Queensland for many years
Also if you Google – Larry Pickering , Harry Omeros , and Alan Davenport you can find a whole heap of information about these characters as well as the many others that are also involved
This is Organized Crime and corruption at the highest level , and people need to be aware and warned about what is happening on the Gold Coast in this so – called Democracy of ours
A lot of these dodgy companies are now starting to operate in Melbourne
They target retirees , or people trying to earn a quid from home , someone looking for a Home based business opportunity maybe
I would appreciate your help in posting this on your website as a warning to all
I have lost over $ 20 , 000 to one of these companys , and hope no – one else has to go through all the trouble , loss of time and money that i have been through , especially when there is ZERO HELP from any of the Authorities which we think are there to protect or help us
Our corrupt Government is obviously making money , kickbacks , taxes , etc from all these schemes which is why they are allowing it to continue
Thankyou
Regards
Michael
King of Gold Coast scammers is harry Omeros go to harryomerosscammer.com
It’s a dedicated web site that also includes taped phone recordings of him scamming.
These guys have being doing the rounds for years. I feel awful for those getting sucked in but honestly, does anybody bother to to do research any more? They most certainly find out how to do it AFTER getting ripped off, but maybe there needs to be MORE resources etc into checking out these potential ( well known ) scammers…
Maybe when they line up for the umpteenth time for a new company registration, they have to agree to any previous company indiscretions being noted on the scam watch site or something!
But that will not stop them snaring the gullible who are their bread and butter folks…
It never ceases to amaze me how people get so sucked into scams but I cant believe David Schirmer from that world money grab the secret is still free let alone still trying to get business partners from his facebook “friends” after his 20 odd companies got closed down. He’s been exposed that many times for everything from screwing people over financially to having it off with all the lovely ladies he’s got close to yet he still claims to be a faith walkin christian and world expert on everything he wants to make money out of. Got to give it to him, hes one real low life. At least one of his brothers was jailed for child molestation but I don’t see him on your list, why not? Are these guys so special that they dont get a mention?
Isnt David Schirmer also the person who got on facebook or somewhere and told people Bayden-clay didnt murder his wife? Really what weed is this guy on? Apparently he can read minds ……. not!
http://rafaelmarquez.me/a-holes/james-ray-convicted-of-negligent-homicide/
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I have been done too and was stupid enough t believe what I was been told even after asking for proof of the system working. So I get sold the software for laybetting on horses and after that not really working, they say you will absolutely make more your money and more if just pay another 15K. This got whittled down to 10. Of course this did not meet what they promised so there answer is to sell you the “ultimate” package for a lot more money.
They treat u like it is only a small amount and you will find the money if you want to make money. I eventually get them to agree to a small amount more (5K) and then they renig on what is offered.
They then keep sending u text messages saying how much they made which I know is bull. Ask for any proof and they refuse to give you any.
Read the contract too as it gives you a 10 day cooling of period from the time you sign but they will not provide the software until after 10 days. It also states no refund once software is provided once you have the software. They really do trust their software NOT.
Lay betting can make you small amounts of money but you can do it yourself without paying for expensive software that doesnt do much. I know that I could have made some money but without the 21K outlay.
Please learn from me and hang up on these people and insist on proof if you show any interest.
The people I have been ripped of from are LAYBET professionals.