Nigerian Scammers Claim Another Victim

A Florida newspaper ran a story yesterday about a local retiree who fell hard for a 419 scam. The story goes into depth on the methods used to play on the target's beliefs and gain his confidence - in this case, the target (who lost $320,000) is still having a hard time accepting that they were thieves. Truly remarkable.

Comments

It's not a scam

[Anonymous Coward]

It's a voluntary tax on stupidity.

Re:It's not a scam

[Leroy_Brown242]

It's right up there with the lottery.

Re:It's not a scam

[MoonBuggy]

I completely agree. While the scammers should not have tried it to start with, anyone stupid enough to be taken in by something so well documented after being warned by the police deserves to loose anything they put in. Why does nobody ever point out this side of the story? It's always like the victim was an innocent bystander, not a greedy moron.

Re:It's not a scam

[pe1rxq]

Worse even if you believe the first email its obvious that there is a fraud going on... In this case it was some corrupt bank worker wanting to move cash out of a unused bank account.

Anybody that falls for this is just a thief an served right when they don't get anything.

Jeroen

Re:It's not a scam

[Blublu]

The lottery is a tax for people who suck at math.

Re:It's not a scam

[Lemmeoutada Collecti]

It always amazes me how accurate the quote about never underestimating stupidity proves to be. A mere five minutes with Google, or for the less technically inclined, call to the local police or news, reveals 90% of these scams. Check with the Better Business Bereau, look in the library news archives, so many ways to debunk snake oil like this. Heck, the old folk living here in Florida used to see these guy on street corners selling tonic.

This guy probably is a runner up for a Darwin award many times over...

Re:It's not a scam

[Eccles]

While the scammers should not have tried it to start with, anyone stupid enough to be taken in by something so well documented after being warned by the police deserves to loose anything they put in.

What about his wife?

It's also quite possible his mental state is somewhat deteriorated by age. It doesn't happen to some seniors, but it certainly does to others, and it's very likely they'll still have legal control of their assets for some time while in the deteriorated mental state.

Re:It's not a scam

[Dan Crash]

"The guy deserved to get scammed! Stupid people should suffer."

Ah, the spirit of Christmas on Slashdot.

Re:It's not a scam

[Khomar]

We should be careful when we attack people like this. Did he make a huge mistake? Yes. Was the mistake a result of caving into greed? Yes. However, millions of Americans are currently putting themselves into similar situations by getting deeper and deeper into debt by taking loans to buy luxury items: a new yacht, a larger house, a fancy new car, etc. The evils of debt and the mounting interest costs is well documented, but it happens time and time again.

While you may not have fallen victim to this particular scheme, are you certain that you have not fallen victim to the "must-have" commercialization scheme so prevalent (and legal) today? Yes, this was a very stupid mistake, but we are all just as capable of making equally stupid mistakes (an investment in the next Enron perhaps).

Do not be so quick to judge and save a little room for compassion. If nothing else, think of his wife who has lost so much and may have had little to say in the decision. Consider the difficulties that they will both face in their marriage as they approach their final years in poverty. This is a heartbreaking story. Do not become so cynical that we lose sight of this.

Re:It's not a scam

[harlows_monkeys]

It's right up there with the lottery

The lottery is occasionally in your favor, when it has gone several weeks without a winner, so the prize is very large. (Yes, that does attract more players, but not enough more to compensate for the larger prize).

The Nigerian scam is never in your favor. :-)

There is an interesting case included in income tax caselaw books, where a consortium of Australian investors tried to buy one of each possible combination for such a lottery. Buying tickets turned out to take longer than they thought, so they only got about half what they wanted, but still won most of the prizes, including all the big ones, and so made a nice profit. The case is in the books because there was some question over how to tax this.

Tax law cases are often a lot more interesting than other cases, because people put a lot more thought into avoiding taxes than they do to most other things. People who would only devote a few minutes to planning a murder will spend weeks trying to figure out how to deduct the cost of the bullets. :-) (This also makes it hard. I've got a B.S. degree in math from Caltech, and never in my life have numbers so confused as they did when we studied partnership taxation in law school)

Re:It's not a scam

[Fnkmaster]

In general, I agree with you, but you have to consider that many of the people who get taken are eldery retirees. In many cases, these people's mental faculties aren't what they were when they were younger. The elderly are unfortunately often the target of overt scams because of this very fact, and because they often have retirement nest eggs.

There really needs to be stronger international enforcement on these scams. These scammers deserve to be taken out with extreme prejudice.

Re:It's not a scam

[segfault7375]

...However, millions of Americans are currently putting themselves into similar situations by getting deeper and deeper into debt by taking loans to buy luxury items: a new yacht, a larger house, a fancy new car, etc...

But at least with those kinds of debt, you at least have something to show for it (the house, the car, etc..) With this scam, you simply lose the money. At least if you find yourself in great debt, you can sell off the item you bought and cut your losses. Just my $0.02.

Re:It's not a scam

[Paradise Pete]

Hmm, must some new law of statistics I'm not familiar with.

If the jackpot is large enough, each ticket bought that week will have an average return higher than the cost of the ticket. However, that fact alone does not make it a good bet, because the variance overwhelms the positive expectation.

Re:It's not a scam

[letchhausen]

"...your average Slashdot reader"

Yeah, those geniuses in Silicon Valley and Seattle who put up their stock options against their mortgages till the drop in 2000 and had to face foreclosure, or the slick characters who poured their hopes and dreams into the money making machine known as the internet only to come up with severance if they were lucky. Those guys are so smart, the ones who have downsized into tiny apartments from expensive condos and are playing 2-year old games while living off unemployment extensions. The ones with the "What Me Worry?" looks on their faces. Yeah, they'd never get scammed......

Re:It's not a scam

[stonecypher]

The lottery is occasionally in your favor

Statistics are funny. Even if it's in your favor, you're still not going to land the sum, so it's still not worth it - unless you're willing to risk a huge amount of money.

As the old saying goes - a variation on what this was started by - the lottery is a tax on those which are bad at math.

I see the 419 scam as a form of social darwinism.

Re:It's not a scam

[stonecypher]

Yeah, and the next time the police come to you and say "this is a scam, don't trust these people you've never seen from the other side of the planet", and you proceed to pump in a third of a million dollars, taking out sixteen credit cards, selling two cars and double mortgaging your home, we'll be laughing at you, too.

Similarly, do not attempt to generate electricity by holding up a lightning rod in a storm, and do not attempt to seem commercially productive by suing for decade-past code publicly authored by someone else.

Re:It's not a scam

[eric76]

It may still be a pretty good deal.

The real question is not the numerical amount of the winnings compared to the bet, but the value of the money in what you can do with it.

For example, assume the ticket costs $1 and the payout to a single winner is $25,000,000.

What is the real value of that $1 to you? Probably not a whole lot. It's not even a hamburger. Maybe a small coke.

That $1 is just not going to make much difference in your life.

How about $25,000,000? That can make a huge difference in your life. Even adjusting for present value and taking out taxes, you can probably still retire, open your own medium size business, pay off your bookie, ... .

So the real value of $25,000,000 in terms of what it can potentially do for you may be much more than the strict odds on the gamble.

But considering how most people who win seem to blow the money, the value to them may be much less than would be expected.

Re:It's not a scam

[ornil]

Taxes go to the government. They are not completely wasted. So I disagree.

Re:It's not a scam

[Joe Tie.]

And I woudln't even say it's always deterioration which causes an inability to see through this kind of thing. In my experience at least, a lot of older people get stuck in the worldview of whatever decade they were in at around their twenties or thirties. Even if they wind up with a computer in their homes, it dosn't become the same thing in their minds as it does to us. It's just a strange magic box which might as well be powered by dragon horns for all they understand of it. If their magic box says a nigerian wants to give them millions of dollors, it's no more stange than the fact that they're able to get letters through their phone line in the first place.

Re:It's not a scam

[stonecypher]

However, millions of Americans are currently putting themselves into similar situations by getting deeper and deeper into debt by taking loans to buy luxury items: a new yacht, a larger house, a fancy new car, etc. The evils of debt and the mounting interest costs is well documented, but it happens time and time again.

We're not laughing at this dumbass for getting into debt. We're laughing at him for spending three times his monetary worth on something that police had already told him was fake.

While you may not have fallen victim to this particular scheme, are you certain that you have not fallen victim to the "must-have" commercialization scheme so prevalent (and legal) today?

Not to the tune of a third of a million dollars, not once the police had told me not to, and certainly not to sixteen credit cards, two sold cars and a doubly mortgaged house.

I do feel a bit dumb about my $50 electric razor. That's maybe a different caliber of dumb.

but we are all just as capable of making equally stupid mistakes (an investment in the next Enron perhaps).

Did the police tell you not to invest in Enron? Did you hear about Enron via email? Did you invest triple the amount of money you actually had, risking corporate funds loaned to you, on Enron?

If nothing else, think of his wife who has lost so much and may have had little to say in the decision.

I'm not laughing at her. I feel awful for her.

This is a heartbreaking story. Do not become so cynical that we lose sight of this.

Heartbreaking, yes. Uproariously funny, yes. I wouldn't think it was funny if he hadn't been specifically told by the fucking authorities.

Re:It's not a scam

[jejones]

I used to think that as a rational utilitarian hedonist it made sense to buy a lottery ticket when the expected value became positive...but then I realized I was overlooking opportunity costs.

Re:It's not a scam

[harlows_monkeys]

Hmm, must some new law of statistics I'm not familiar with

Uhm...you aren't familiar with the formula

Expected payoff = probability of winning * prize if you win

?

You should have got this in the first week of your first statistics course. :-)

Or maybe you aren't familiar with how lottery prizes work? If no one wins, the prize gets added to the next lottery.

The probability of a given ticket winning is the same each week, but the prize goes up. However, more people tend to play as the prize goes up, so the chances of sharing the prize go up, but the net effect is the "prize if you win" term goes up each week.

If a lottery goes a few weeks without a winner, this can push the expected payoff higher than the price of a ticket.

Re:It's not a scam

[xinit]

It's not just that the guy is stupid either... Anyone who's taken in by these schemes has to realize that they're doing something illegal if they're helping someone effectively "steal" millions of dollars.

They're Criminally Stupid.

Re:It's not a scam

[slamb]

We should be careful when we attack people like this. Did he make a huge mistake? Yes. Was the mistake a result of caving into greed? Yes. However, millions of Americans are currently putting themselves into similar situations by getting deeper and deeper into debt by taking loans to buy luxury items: a new yacht, a larger house, a fancy new car, etc. The evils of debt and the mounting interest costs is well documented, but it happens time and time again.

That's not true at all. People get themselves into holes with loans, yes. But it's not a similar situation. Nigerian spammers essentially say "I stole a lot of money and I'll give you a cut if you help me smuggle it out of the country." The original premise in these emails is always that it's money the guy has acquired through questionable means, thus the need to launder it through an American. In this case, the guy claimed to work for a bank and to have stolen the money from the account of some dead German guy. (Was it his? No. Is it his now? Yes. Was it a gift? No. Thus, stealing. It's not rocket science.)

I'm tired of everyone saying the people who get scammed are innocent but stupid. They may be stupid, but they're not innocent. They all knew something shady was going on; they just didn't realize it was at their expense.

So for that reason, the people who just get themselves into debt are in a totally different situation. They were irresponsible and screwed themselves over, yes. But they didn't do it in the name of stealing money from someone else.

Re:It's not a scam

[Pieroxy]

The lottery doesn't lie to you.
They make some people (other than themselves) rich.
They take few from many to give a lot to few, where sammers take a lot from few.

Apart from these differences, it is the same.

Re:It's not a scam

[dustman]

I don't know about your grandparents, but mine aren't mentally retarded.

While it's own thing to say "my grandma doesn't know jack about how computers work", and even joke about it, saying they consider it a "magic box" powered by dragons.

But, if my grandmother is using email, I don't think she says "oh, my magic box is telling me to send my bank info over"... She understands the concept of mail, and letters.

Computers and technology had very little to do with this. Maybe sometimes people don't understand the danger of giving out their bank account and identification information, but that's a little different.

(All this being said, my grandmother might fall for this con. But that's because she's into get-rich-quick schemes (she's owned vending machines, tried "telemarket from home" schemes, raised emus in her back yard(!), etc), not because she's an idiot fooled by the "magic box powered by psychic fairies")

Re:It's not a scam

[Grishnakh]

I wouldn't call it dumb either. My first razor was a Braun electric that I got for $60 in high school. I didn't have to replace it until almost three years ago, which means I used it for about 11 years. I used the same blades and foil the whole time too, so that works out to $5.45 per year for shaving, plus electricity. A lot cheaper than disposables.

For my new one, I got a $125 Braun that comes with a cleaning/recharging base; it's nearly three years old and still works like new. I expect it to last at least 11 years.

Buying expensive stuff isn't dumb if it saves you money in the long term.

Re:It's not a scam

[Lemmy Caution]

That ignores the utility value of money, which acts as a coefficient to the payoff, rises and falls in a non-linear way, and reacts differently for loss than for gain.

Utility theory is also why it taxing 10% of a blue collar worker's income hurts more than taxing 50% of Bill Gates'. There's a vast difference in value between the utility of 10,000 dollars and 9,000 dollars (it may be the difference between paying rent and not having a home) and less of a relative gulf in utility between 20 billion and 40 billion dollars.

Re:It's not a scam

[Roblimo]

You have the wrong credit card, my friend. The one I use for travel expenses (BofA Visa) is prime + 2%.

And any wage earner and/or homeowner who's not totally buried in debt gets constant offers of 0% "introductory offer" credit cards where the introductory rate last 6 months or more. If you have a card or two with high interest, get one of those and transfer the balance *with this caveat*: If you are even one day late on one of those special offer deals, you will suddenly stop paying interest and start paying what used to be called "vigorish" back when the government still regulated financial institutions. To me 22% or 24% interest is nothing but loansharking, even if it's done by a a supposedly resepctable bank or other financial firm.

If that happens to you, your best option (if you're not so buried that you should seek help from one of the credit counseling agencies that make deals with creditors for you) is to get another low-interest card or two... and watch yourself from then on.

Of course, if you're really deep in debt, you can always answer one of those friendly Nigerian emails. $20 million or $30 million ought to help you get a fresh financial start, right?

- Robin

Re:It's not a scam

[SiliconJesus101]

And I beg to differ. He supposedly gave a mortgage on his home. In the state of Florida the mortgagee can and will foreclose on the home and the elderly gentleman most definitely will be evicted and lose his home.

While it's true that standard credit debts cannot force the sale of your primary residence, they instead acquire a judgement lien against your estate, a mortgage can and will be foreclosed upon no matter what the circumstances are.

Re:It's not a scam

[Lonath]

Ok, I'm bored, so here's how I figure out when to play the lottery. First the main principle is that of the "progressive jackpot". That means that people play some game and if nobody wins, a pot grows and grows. Normally when playing poker or something with a progressive jackpot, you can't just sit down halfway through and start playing because you didn't put any money into the game. The lottery OTOH lets you start playing after many people have put their money in and lost. I think this is the same idea behind those teams that beat video poker by waiting for a huge jackpot, then playing all of the machines for days until they win the jackpot.

If the lottery gives you a 1/N chance of winning the big prize per dollar ticket, and the jackpot is about 3N, then the tickets start getting worth it. Start with the 3N. First, they take away about 40 percent of the money if you pick the "lump sum" (you should consider this important since you pay for the tickets now and don't get to pay for your tickets over 25 years...), then you have taxes which will be about 40 percent of what's left, so you're looking at .6*.6 of the money, which is 36 percent, or roughly 1/3 of the total (About N dollars). Then you have the problem of if there's a 1/N chance of winning and 2N tickets are bought for that drawing, you will average 2 winners, and it could be more, but it could be less, so your real expected payoff is more like P(1 winner)*.36(Jackpot = J) + P(2 winners)*(.36(J)/2) + P(3 winners)*(.36(J)/3)...and so forth. It's a binomial distribution with p = 1/N, q = ((N-1)/N), so your P(X = 0) is ((N-1)/N)^2N, P(X=1) = C(2N,1)(1/N)((N-1)/N)^(2N-1), P(X=2) = C(2N,2)(1/N)^2((N-1)/N)^(2N-2).... All of the ((N-1)/N) terms are roughly the same and we can call them K, and we can simplify the combinations (By assuming that C(2N,P) is roughly (2N)^P/P!) for large N and small P to get

P(X=P) = C(2N,P)(1/N)^P((N-1)/N)^P which is approx

(2^P)(N^P)/P!(1/N)^P(K) = (2^P)/P!(K), and the K is essentially constant over all P, so we can ignore it, so the P(X=P) is proportional to (2^P)/P!.

I will ignore the 0 winners case, since then you get a chance to play again next week, But the constants for the other numbers are : C1 = 2, C2 = 4/2 = 2, C3 = 8/6 = 4/3, C4 = 16/24 = 2/3, C5 = 32/120 ~= 1/4, C6 = 64/720 ~= 1/12, and it keeps going down.

Add those numbers up and make the last one a 1/10 or so to take care of the other numbers, and you see that the total is about 6.5 or 7. You have essentially a 2/7 chance of being the sole winner, a 2/7 chance of being a half winner, and so on, so your real expected value will look more like

(2*J+2*(J/2)+(4/3)*(J/3)+(2/3)*(J/4)+(1/4)*(J/5) +( 1/10)*(J/6)...)/7

which is approx ((2+1+4/9+1/6+1/20...)/7)*J ~= (1/2)*J, so you're looking at about half the jackpot being yours (ignoring the 0 winner case which lowers it even more to about .4.

So, on top of the taxes and persent value which eat away about 2/3 of the value of the jackpot, the other winners make your jackpot about half or less of its value beyond that, so we're looking at about a 15-18 percent return on the actual "dollar value" of the jackpot. I tend to play when the jackpot is 3N where the chance of winning is 1/N, since I like poker and this situation only comes up every few years, but to take everything into account, you should wait until the jackpot is about 6N,. The only problem is that I was assuming 2N tickets bought for the current drawing, and if those numbers go way up, then the expected size of the jackpot keeps going down due to more players. So, I guess it will never be perfect, but it's nice to have better odds if you're going to play and the little prizes increase the expected value, as well, so it might be worth playing once in a while. And no I never won except for the little stuff.

Re:It's not a scam

[Sivaram_Velauthapill]

This message isn't necessarily directed at you...

I'm tired of everyone saying the people who get scammed are innocent but stupid. They may be stupid, but they're not innocent. They all knew something shady was going on; they just didn't realize it was at their expense.

All of you on Slashdot dissing this old person should be ashamed of yourselves. Most of you are laughing now but wait until something like this happens to you. You people don't realize that these are sophisticated operations. It isn't just an e-mail and that's that. Did you even read the article? If people can fly you around the world, set up fake guards, metal cases filled with cash, etc, it is SO EASY for someone to fall for that. None of you have any idea how sophisticated scammers are.

It's just too bad you guys attribute all this to stupidity (what the hell is stupidity anyway? Are you stupid for falling to George "Warmonger" Bush's lies of WMD in Iraq?). Until you guys get defrauded on a car you buy, or a house you buy, or a vacation, or whatever, you are all living in your glass houses throwing stones at the victims.

(No, I haven't lost any money on anything like this. But I just feel sad and angry at the hostility directed by the Slashdot crowd towards the victim. It isn' that surprising to me though. Most people here are conservatives and quite clueless on these issues, not to mention heartless :( )

Sivaram Velauthapillai

Re:It's not a scam

[haystor]

I used to think this way too until I saw what my grandmother went through while she was being cared for in a home.

There are a zillion scams targetted at the elderly. The typical one involves telling them all their benefits are going away and selling them a magazine subscription of a political group defending their benefits. I don't mean slight implications like saying, "The Republicans are looking to cut Social Security." I mean utter crap about how all Social Security could be cut to zero next month and Medicare will no longer be available. Subscribe to the XXX Defense Fund for $1000 a year and make sure this doesn't happen.

A *lot* of these people have money. They listen politely on the phone. They consider businesses to be trustworthy (these are the same people that retired on pensions, so why shouldn't they?).

Back in their day cars didn't have keyed ignitions (just door locks generally, open cockpits didn't have that). They didn't have to lock their houses.

And for the it's-always-the-victims-fault-crowd:
"It's their fault they got scammed." they say.
"It's your fault you're not bulletproof." I say.

419 Scam Infomercials?

[DaRat]

So, at what point will it become more profitable to run How to Run a 419 Scam seminars than it will be to actually run a 419 scam? Okay judging by the fact that people still get taken in, quite a while, but I can see the infomercials now...

Simply Insane

[OS24Ever]

This is just simply greed run amuck. Not by the scammer - but by the idiot who fell for it.

I can't feel sorry for this guy in the slightest. This guy was a whole lot of stupid. Just insane to fall for something like that and need to spend $320K to get it.

There is a certain personaility type that has to fall for this no matter where it was from. It's not the internet that has caused this, it's just helped people find more idiots to suck in.

Re:Simply Insane

[Anonymous Coward]

Exactly. He was greedy in the classical sense and he paid for it.

You'd figure that after 75 years on this planet he'd develop some common sense - This is not a knock on the elderly. I know a lot of old folks who grew up during some mean times and would never ever get scammed like that because they don't believe in the "free lunch" and they're always on their guard about stuff like this.

Greedy fool.

Re:Simply Insane

[pe1rxq]

He agreed to help steel money from a bank account......
He agreed to help commit a crime.

Jeroen

Re:Simply Insane

[OS24Ever]

I read the article start to finish prior to posting my comment. The guy is so stubborn and stupid to think that the government of the country is keeping him from his millions, not his friends.

He's an idiot, plain and simple. When given documentation showing it's a scam he won't admit it, and won't even file an official complaint. He's a moron.

He lost everything, yep. He's now a burden on society as a whole completely because he will loose his home, bankrupt off his debt and now the banking & mortgage industries will take the hit for it causing interest rates, and credit ratings to be just that much tighter for us non-greedy types to get a loan and/or credit card.

The banking industry let him get *21* credit cards and cash advance all of them and no one blinked. They started blinking when they didn't get their payments though. That could be the only thing that might need to be fixed, the ability for a person to get *that* many credit cards in such a short time, and for no one to notice.

Re:Simply Insane

[Apreche]

I don't feel bad either. I in fact almost despise this man. Because of his ineptitude there are now drug trafficers in Nigeria who have some positive revenue. Why? Because this dumbass american is a fucking idiot. I feel bad for people who are screwed and it isn't their fault. Like a small child who gets kidnapped from the playground. Or someone who trips and falls into a fire. But if you are this dumb, your life deserves to be ruined. Darwinism at its finest I say.

Re:Simply Insane

[Anonymous Cow herd]

Empathy? If you took all your money and flushed it down the toilet, do you deserve empathy? If you decide it'd be a neat idea to deliberately drive a 6" spike through your shin bone, do you think you're going to get a lot of sympathy?

Don't get me wrong, I'm all for empathy... if unexpected medical bills had cleaned out his nest egg, or he'd lost it in some Enron-type pension plan raiding, I'd be Mister Empathy himself.

But the long and short of the story is that he got greedy, he didn't listen to advice from good sources. Jesus Christ, he handed over $300,000 to these guys without even doing any due dilligence. And now he's in denial. This guy deserves everything he got, end of story.

Re:Simply Insane

[KrispyKringle]

``Tell me more, he said, but don't ask me to do anything illegal.''

That said, he was a moron.

Re:Simply Insane

[JebusIsLord]

Unfortunately, as he was scammed long after the reproductive age, this is NOT an example of natural selection at work. Too bad he didn't get scammed when he was 20.

Re:Simply Insane

[jandrese]

I think the "arbitrary level of worthiness" is "didn't inflict it on themselves". We feel bad for people when bad stuff happens to them, we don't feel nearly as bad when they do it to themselves, especially if it is for some unbelievably stupid reason.

Re:Simply Insane

[starling]

Because of his ineptitude there are now drug trafficers in Nigeria who have some positive revenue.

What, you think drug trafficking runs at a loss? The evil drug runners need to use scams like this because they sell of drugs at below cost? Yeah, right. That's progaganda, pure and simple - and you fell for it.

Re:Simply Insane

[pe1rxq]

Scammers: 'We want your help in robbing someones bank account'

Idiot: 'Sure I'll help you rob someone just don't make me do anything illegal'

So when you say 'don't ask me to do anything illegal' when helping criminals it somehow protects you from the law????

Jeroen

Re:Simply Insane

[RichardX]

It's incredibly easy to denounce this guy as an obvious idiot - indeed, his stupidity seems absolutely breathtaking, and therefore he deserves all the flak he gets....

Or maybe not.
It's always so easy to denounce things from the other side, for example, lack certain beliefs that some other people hold (I'm staying nonspecific here so's not to get into an argument about religion, or whatever).. to me, it seems absolutely staggering that anyone could possibly believe some of the things I don't - but it's never that simple.

This guy is not of the internet generation - he's older. In my experience to many older people the internet is some "magical computery thing" that can do anything. I know people of that kind of age who are every bit as shrewd, bright, and worldly-wise as their years should suggest, but you tell them you can download money from the internet, and they'll believe you.

Secondly, his wife is partially disabled. That's likely to put financial strain on him and his household. Strain = stress, and stress generates emotional rather than rational thinking.

Thirdly, it's often difficult for people to admit they've been taken for a ride - even very smart people. Put yourself in this situation:

You've been offered a bargain.. it all looks legit, and it's something you really don't want to pass up.. A really nice PC/Mac for $100, mebbe.
So, you send off your $100, and after a while you're informed that due to some oversight, the cost is actually going to be $105.

At this point, you grumble.. but what do you do? Risk throwing in the extra $5 for the machine you really, really want, and prove to yourself that you aren't stupid... or prove that you ARE a complete idiot for falling for it in the first place by trying to get your money back?

It's a pretty devious trap. A lot of people would rather spend a little more to get a "good" result.. and will repeat ad infinitum. A little more.. just a little more.. one more bit.. etc. It's an age old con trick, but it's survived this long with good reason.

Anyways, this has turned into something of a long winded rant.. by basic point is - don't be too quick to judge.

Re:Simply Insane

[Sloppy]

In other words, when you play Ultima IV, you choose compassion over justice. ;-)

Suppose the 419 scammers who conned this dude, were caught and punished. Would you feel empathy, since they would also be human beings in a horrible situation?

I guess there's a spectrum of degrees by which people earn their misfortune. Somewhere along that continuum, there's a point where our sense of justice and compassion are equal. One on side of that point, we feel sorry for them. On the other side, we hope they (and others who are watching) have learned a lesson.

As for me, no, I don't feel sorry for this guy. People as greedy, reckless, and irresponsible as this, are one of the reasons I hate collectivism so much. I don't want to be in the same money market, insurance pool, or taxes-for-government-services deal as them. This isn't somebody just line me, who happened to have some bad luck or made a mere mistake. His suffering is a result of fundamental ethical failure, and yes, I want such people to suffer, and for the world to see that they suffer.

Learn, world! Don't be like this guy. Don't be a 419 victim, or a cultist, or a compulsive gambler, or a drug addict. If you do, then you're destined to suffer, and I won't feel sorry for you or want to help you.

Re:Simply Insane

[Avihson]

This is not an internet scam. It is an old scam that has been around for years, now it is just easier to find "marks" by spamming on the internet. In days of old, the scammers had to be a bit better salesmen and judges of character since they did a lot of cold calling. This lead to the possibility of one of the marks knowing what was going on and reporting them to the authorities. It relied on human greed then and it relies on human greed now, not human compassion or religious zeal. It is "money for nothing"...

Now most people just delete the spam, and those who try to report it usually are stymied by fake addresses or apathetic authorities.

If the Government wants to plan some stings, they can give me the money to send to these guys and we can get some of them off the net. I'll do it for a mere 10%

Re:Simply Insane

[anarchima]

If you owe the bank $1000, you've got a problem. If you owe the bank $1,000,000, the bank's got a problem.

somebody should direct him to

[JeanBaptiste]

This site.... that should convince him he was scammed...

Golden rule

[msgmonkey]

If it sounds to good to be true it most probably is. period.

I dont know who came up with that line but it holds true time and again.

For the love of...

[fluxrad]

"His trip to financial ruin began Feb. 2, 2002."

Mr. Sessions, meet P.T. Barnum. Mr. Barnum, please smack Mr. Sessions as hard as you can upside the head.

Ouch..

[MattC413]

I can see why he won't admit to having been scammed, and keeps denying that those people were scammers.

At that age and point in my life, if I were to admit that I were completely scammed out of everything I had worked for my entire life because of a scam that has been around for decades, it would probably make me a broken man.

How long can someone that age live with a broken heart?

Wow

[El Pollo Loco]

This was on fark yesterday. What cracks me up is that they guy doesn't even think he was scammed. He blames governments for holding the money, and he considers the criminals his friends. Actually, never mind, that doesn't crack me up. It makes me sad.

Before you start feeling pity for him...

[phorm]

We have to look at the signs. First, we have the obvious there is no free lunch and if it looks too good to be true, it probably is

Next, we find this line:
He ignored police warnings that the deal was bogus and instead blames his losses on corrupt foreign governments
OK, so even the police told him that this would go bad, he continued to dump his money. So now we have "too good to be true" coupled with warnings from the law that he was going to get fleeced

The actual premise of the transaction doesn't even sound legal. A banker needs to move money that isn't his by using an offshore account?

The account had been dormant for years -- ever since the businessman and his family died in a plane crash, the e-mail read. The "banker" needed help moving the money. Otherwise, the government would confiscate it.

That's where Sessions fit in.

And finally the trump:

Still, Sessions was so mesmerized by the well-spoken West Africans that to this day he does not think he was scammed. "I consider them my friends," he says. "They're not criminals."

If this guy had more money and they asked for it, he would give it up. It goes beyond stupid and trusting to the point of insanity. Yes, he's old, but when you've been warned by police and god knows how many others, lost all the cash you have,and face losing your house then you should know you've been robbed.

This guy has more in common with a gambling addict than a victim. He's still not giving up. I really wouldn't be surprised if he would have given to TV preachers or others who might have fleeced him had the nigerian scammers not caught him first.

Re:Before you start feeling pity for him...

[AJWM]

The actual premise of the transaction doesn't even sound legal. A banker needs to move money that isn't his by using an offshore account?

Yep. There's an old saying, "you can't con an honest man". Most big cons have some element of dishonesty (beyond the "getting something for nothing") because it helps to discourage the mark from checking on the legitimacy of the scenario in the first place.

Denial's a wonderful thing isn't it.

[antis0c]

My take is on this is more than likely he knows he was scammed. He would rather believe a lie he knows is a lie than accept the fact he was swindled for all he's worth.

It's easier to blame "corrupt foriegn governments" than it is to blame yourself for being taken in by it. I think the poor guy is just too embarrassed to admit he was swindled.

But did anyone else get the impression off this article like they were really poking fun of him instead of covering a real piece of news. Kinda like, "Look at this stupid old guy, haha"

You know what else is a little odd:

Jim Stratton can be reached at jstratton@orlandosentinel.com or 407-420-5379.

That just screams, "please send donations." Makes you stop and think, who's scamming who..

Re:Denial's a wonderful thing isn't it.

[GbrDead]

Jim Stratton is the reporter.

A new T-shirt

[attackiko]

"I sent the scammers $320,000 and all I got was this lousy carved wooden elephant and antelope"

Re:A new T-shirt

[lxt]

The Register used to do a great 419 T-shirt, but you can still get an "All my money went to Nigeria and all I got was this lousy t-shirt".

Time to take away..

[the MaD HuNGaRIaN]

his drivers license--no more Information Super Highway for you!

I don't think he is a scammer

[andy666]

i helped him out and i made a bundle! with the money, i bought a great house with a fantastic mortgage. then i married a beautiful russian bride, and i pleasure her with my surgically enlarged, viagra driven member. During sex, I take photos and print up hundreds of copies, but hey no problem - I have an excellent source of toner....

Sounds like Scientology..

[jcr]

Get the victim hooked, keep bleeding money out of him until he's ruined, and all along he'll insist that he's not being robbed.

Sad. Very sad.

-jcr

if only

[Camel Pilot]

"I think the Lord uses people to do his work," Sessions said. "With that money, we'd be comfortable, and we could do some good things."

This statement is another way to pc package the concept of greed. If only God would let me win the loto I promise I will use it to do the Lords work - after of course making myself "comfortable".

Alive and Well

[aufecht]

This is exactly why SPAM is thriving and so widespread. Someone, somewhere will fall for anything, no matter how propostrous. A million may complain about SPAM, but it only takes one to buy into the scam. I mean, this one he should have seen a mile away and yet he lost a ton of money. Sad.

I'd laugh, but...

[mblase]

...I lived through the dot-com stock bubble.

You don't have to be old and retired to be seduced by people promising you 500% returns on $50,000 investments. Twenty-somethings will fall for it if you use enough marketspeak.

Re:I'd laugh, but...

[StormReaver]

"You don't have to be old and retired to be seduced by people promising you 500% returns on $50,000 investments. Twenty-somethings will fall for it if you use enough marketspeak."

If you do it once and lose your $50,000, you could be a victim of bad luck and market fluctuations. If you do it six times with money you can't afford to lose, you're just dumb.

I do feel sorry for this guy, though. He worked (probably hard) all his life to accumulate his nest egg. He seems like a genuinely caring and overall good guy except for his astronomically sized greed.

The fact that he was monumentally greedy does not mitigate the fact that his money was taken under fraudulent circumstances. Being greedy does not make him any less a victim.

It would be like blaming a retarded virgin girl for being a rape victim on the grounds that she should have known that the rapist was lying to her when he told her that good things would happen to her if she would just put out. The whole point is that she can't make that kind of informed decision without a guardian.

Granted, the man is not medically retarded and is fully capable of making his own decisions. However, his trust was still abused by the scammers. They are about 80% to blame, while he is about 20% to blame for failing to apply common sense due to extraordinary greed.

TANSTAAFL

[discovercomics]

"a sucker is born every minute."

Captain Alexander Williams, a New York City police inspector at the time, attributed "There's a sucker born every minute, but none of them ever die" to Joseph Bessimer, a notorious confidence trickster of the early 1880s known to the police as "Paper Collar Joe".

Scams have been around for a long time and there will allways be some soon to be poor fool who falls for it.

Re:Common sense

[pe1rxq]

Well... Some do succeed in voting :)

Jeroen

We're the one's that pay...

[k4hg]

Fine to say it is his fault, and have a good laugh at his expense, but it doesn't work out that way...

As the article says, most of that money is in new debt. He'll never be able to pay it back, so it will become the loss of the finance companies. They will raise the interest rates we have to pay in order to recoup that money.

And of course, since the guy will lose his home and has no money, he'll have to go on welfare to get his rent and food money. He won't be able to pay for his health care co-payments any longer, so he'll bail on those bills, making his doctors and hospitals raise their rates for paying customers and insurance companies.

Yes, he was stupid, his life will be crap, but we are the ones that have to pay for his stupidity!

Feel sorry for him

[Quixote]

It is quite easy, for us (20|30)-year olds to pass judgement on this man. But consider this:

• He is 73
• He and his partially disabled wife needed the money
• He comes from a simpler time, a different era

Please don't be harsh on him.

What if, 50 years from now, there's a scam going around , today, you won't in your wildest imagination consider possible? Would you fall for it? It is possible some of you would.

Please don't deride this old man, but feel sorry for him. He's ruined, with a disabled wife to take care of.

If anything, us young folks also have to share some of the blame in not spreading the message clearly that such things are scams.

Re:Feel sorry for him

[OS24Ever]

Couple problems with this

1. This scam has been around almost as long as he has, The oldest reference I could find is a reuters article in '91.
2. The internet had nothing to do with it, this used to be delivered via fax, and good old US Mail
3. He was greedy, and used god as a reference to fulfill his greedy needs. Just as bad as spending your life savings to win the lottery

I don't buy it. hell the police TOLD him while he was being scammed it was a lie and he disagreed with them.

Re:Feel sorry for him

[Lemmeoutada Collecti]

My grandfather, a cop during your simpler time, has told me story after story about hucksters, scammers, con men, and all variety of snake oilers. He is 82, so he lived through the same times as our questionable man. His first reaction on seeing the Nigeria e-mail was to laugh. He even showed me a story from the Orlando Sentinal he had saved (don't remember the exact issue) where they busted a guy for using almost the exact same scam about funding a gold mine. So it's not even an original one.

Aside from which, said old man was warned by friends, family, even the police. No issue there of failing to spread the word. Just a gullible, greedy, old fool.

Re:Feel sorry for him

[nathanh]

It is quite easy, for us (20|30)-year olds to pass judgement on this man. But consider this:

Look, you've pushed a particular button of mine with this one.

* He is 73

Ok.

* He and his partially disabled wife needed the money

Ok.

* He comes from a simpler time, a different era

No, I strongly disagree with this. There seems to be this all-pervasive myth that you go back 70 years and everything was rosy. People left their doors unlocked. Everybody tipped their hats to ladies in the street. Con-artists didn't exist and policemen had nothing better to do than provide consolation to young toddlers who had temporarily lost their mothers while shopping.

It's a nonsense. Go back 70 years and there are drugs, crime and corruption on an incredible scale. The mafia rules several cities. Drive-by shootings are basically invented. Policemen are murdered in their homes. Con-artists swindle the entire population out of their money leading to a rather well known market crash; makes Enron look like a child's tantrum. Hollywood movie stars are involved in drug scandal after drug scandal. You have street gangs, street crime, etc.

You need to lose this rosy-coloured vision of your history. Simpler time? Don't be stupid.

On the other hand...

[exp(pi*sqrt(163))]

If you read a news story about people too dumb to be real...it's probably true!

Hubris

[Detritus]

If you think you are too smart to be conned out of your money, you're wrong.

desperation

[dh003i]

these types of things reel in desperate individuals who don't want to work for their money, or do the research to learn how to invest it well. In general, if someone tells you that you can make lots of money by doing no work, they're trying to scam you.

It's not all black and white. There are even some companies in the US that have a sort of queezy feel to them in regards to their offers. Pre-Paid Legal has an iffy feel to it (see News on Pre-Paid Legal. It's a MLM company which sells
That was a grey-area example, But offers which promise to make you rich while requiring no work from you are almost invariably scams. There's an easy way to detect a scam: listen to your gut. If something doesn't feel right, you shouldn't go with it.

Re:desperation

[Hoi Polloi]

A tiny amount of research could've saved him from this mess (he obviously had internet access). Instead he let his greed lead him to a point where he not only has jeopardized his wife's future but he is too scared to admit he was scammed. His mental health demands that he pretend the scammers are the good guys and were victims of their big bad government.

419 Scams, Ponzis, Insurance, U.S. Debt...

[mankey wanker]

Plenty in common there:

Greed.
True believers.
Those that get stuck with the debt.

Nobody thinks they were scammed. The leaders were just good honest men that were themselves misled. When all other justifications fail, try the old "God works in mysterious ways, his wonders to perform."

Don't be so quick to point the finger at the imbecile in the story -- look in the mirror first.

Fight control. Question authority. Rebel. Be free.

I Say So What

[poofyhairguy82]

There must be millions of scams working in the world today. Just because a particularly lame one has entrapped this man does not make him special. The most interesting fact regarding this article is how someone that gullible got that much money to lose in the first place.

In fact victims of this scam probably deserve less pity (the only reason for coming out in public that you were duped) than most other. For a person to bite on a Nigerian scam they must be unusually greedy. Many other scams take advantage of altruism. It is those that deserve some pity. Be not admitting to being scammed (yea right like he doesn't know when an article is written about him being scammed) the man seems to want to come off innocent and naive probably to gain pity and a new income. But this is just him trying to scam the altruistic masses of the internet. This man just reaped what he sowed.

Scams on the Elderly

[ChuckDivine]

I'm not quick to blame the victim in this case.

My mother is 88 years old. You would not believe some of the scams that target the elderly. The ones I've seen are, surprisingly enough, quite legal. For example, selling reports on lotteries you may have won or soliciting for charities that keep practically all the money for themselves.

Some of the elderly do have difficulty distinguishing between reality and fantasy. Most do not. For those who do it's partly it's because of problems that happen to people who grow quite old -- and sometimes it's due to having grown up and aged in an era in which normal people were not targeted by frauds.

If the man in this story was, say 43 or 53, I'd be much harsher. But, by 73, he could be suffering from some problems that limit his ability to understand reality.

What should be done? Damned if I know for sure. But I think younger relatives should keep a close eye on their elders. That way you can limit the damage done to Mom or Granddad by this kind of scum.

who uses who

[PinkyGigglebrain]

from the article

Mr.Sessions said "I think the Lord uses people to do his work,"

he forgot the devil does as well.

Other variations on the Nigerian Scam

[sagefire.org]

Learning Strategies theoretically hired me to train other people to teach classes using The Interwise Platform to K-12 students. They promised me a salary of $45k. I have filed the proper papers with the Attorney General for failure to pay an employee. Also, my case was reviewed by a labor lawyer who says it looks good, but since it is a government case, it will take some time.

Why am I posting this here? Well, the other day, someone else that Learning Strategies failed to pay sent me the following. This came from the FBI:

THIS IS NOT AN AUTOMATED REPLY

Thank you for your submission of information via the FBI.Gov Web site. In as much as the FBI receives reports of this type of activity on a regular basis there is no need to forward any such additional emails to the FBI.

You indicate that you are aware that these solicitations are fraudulent, so I will not caution you against responding to them. However, I have included our standard caution to the public simply because it contains information of which you may not be aware.

____________________

A review of the information you provided revealed that you are being approached over the Internet to participate in one of many variations of an advance fee scheme being perpetrated by individuals from various West African nations, particularly Nigeria. Victims have lost substantial funds in the past and all requests for travel to foreign locations should be ignored. The United States Secret Service (USSS) has developed an excellent, detailed description of this fraud scheme, which can be accessed at http://www.secretservice.gov/alert419.shtml. If you have been victimized by one of these schemes, please forward appropriate written documentation to the USSS, Financial Crimes Division, 950 H Street, NW, Washington, D.C. 20223, or telephone (202) 406-5850. We encourage you to share this Web page with family and friends. Your continued cooperation in this and other matters is greatly appreciated.

It is not always clear that one is being scammed. In my case, I had been paid a nominal amount for classes I taught as an independant contractor ($435) before they offered me fulltime work. Learning Strategies owes me $4375. But, who knows if I will ever see it.

If anyone has any sugestions on how to get the ball really moving on this I would greatly appreciate it. As would all of the other people who were promised salaries that never got them.

Thank you.

Re:Feel sorry for him?

[0123456]

"Please don't deride this old man, but feel sorry for him. He's ruined, with a disabled wife to take care of."

He's been ruined by his own greed and stupidity, and was apparently quite happy to steal money from the bank account of a dead man. Why should I have any sympathy whatsoever for someone like that?

"What if, 50 years from now, there's a scam going around , today, you won't in your wildest imagination consider possible?"

If it sounds too good to be true, it probably is. If you remember that, you'll never fall for one of these scams. To do so you need to be either crooked or stupid or both.

Scam who?

[AnotherBlackHat]

He borrowed hundreds of thousands of dollars, gave it to some one in a foreign country, and now he may go bankrupt.

Why do I feel like the real idiots in this story were the people willing to lend him the money?

-- this is not a .sig

As P.T. Barnum said...

[adept256]

"There's a sucker born every minute."

Spam relies on the idiot factor. Ask the same stupid question a few million times, you're going to get a few stupid answers.

As long as there is one ignorant/plain stupid person managing to survive this world, there are ten people waiting in a queue to exploit them and take their money.

Final obligatory quote: A fool and his money are soon parted.

Yup

[Greyfox]

From what I've seen of student loans, universities are more dangerous to the population at large than the Nigerian scammers are. I've seen people go into debt to the tune of 50-60K or more and then go into $20,000-$30,000 per year jobs. You're not buying your future with student loans, you're adding just one more chain that corporate America can use to make you a wage slave.

Of course, that's just my opinion and I'm sure a lot of people have good, positive experiences with the studen loan people...

Re:Yup

[Unregistered]

for real. my cousins who make shitloads of money still have student load debts. It's crazy.

And Worse Yet

[blunte]

It said most of the 320k was new debt. There's no chance he can pay that debt back, as he can't even afford to pay current living expenses.

That means he'll default on loans and credit card debt, which means creditors will have yet another reason to fleece good customers to make up for the bad ones.

Re:And Worse Yet

[batura]

Uh, it is the creditors responsibility to only grant credit to those that can afford it. The fact that they gave a guy the ability to borrow 320,000 without the chance to repay it is what makes me think about who the true dumbass is in this story: the bank. The guy will file for bankruptcy next week, and they'll (the banks) will be the ones paying for thier greed.

Bull

[Hoi Polloi]

"He is 73"

So he had 73 years of life experience for him to know better.

"He and his partially disabled wife needed the money"

He had no problem burying his wife and himself in debt and putting everything they had in hock for the sake of a scheme that would have made Ralph Kramden (The Honeymooners) blush.

"He comes from a simpler time, a different era"

Bah, I hate that "Golden Age" bullshit. Life wasn't simpler and people act exactly the same as they always have. Some people are liars and cheats, some are greedy fools; time hasn't changed this. People even had fewer people watching out for them (bank insurance, auto insurance, consumer fraud protection, etc) than they do today.

He grew up with Stalin, McCarthy, Hitler, the Depression, countless scams and scandals, and on and on. He wasn't from some innocent time.

Send them image files...fill their inbox

[John3]

People (including myself) have tried engaging the scammers in conversation to have some fun and possibly steer them down a dead end. However, these folks have far more time to devote than we do at creating these bogus stories.

I've also heard of people replying and attaching image files so that they're mailbox quota gets used up. Most of the scammers are using free email services so it doesn't take much to fill their quota. I;ve done this a few times, choosing suitably bizarre images (nothing pornographic, just bizarre).

Why is this a scam, and televangelism not?

[ColonelPanic]

If this guy had given all his money to a church, it wouldn't be in the news.

perhaps

[The Tyro]

Or it's a tax on naivete`

In this particular elderly gentlemans' case, it is probably a combination of that, and denial. It ain't just a river in egypt, folks, and it's a powerful ego defense when you've lost it all due to your own trust, and can't face the reality of your victimhood.

Think that kind of denial can't be real? How hard do you think it is for that old fellow to look himself in the mirror and realize that his own foolishness cost he and his disabled wife their life savings and future?

Truly a sad tale.

i got an e-mail...

[bbdd]

...from some other scammers demanding $699.

the pitch was pretty much the same.

"Today, everyone with an in-box has seen the pitch: A West African lawyer, banker or dignitary wants to get a huge stash of money out of the country. If the victim helps, he'll be cut in."

but he signed up for a crime...

[timelady]

the whole point of the 419s is the way they offer to rip off the current gvt of a country and smuggle cash out - usually impoverished economies.this guy thought his 'friends' werent 'criminals' when they offered him a chance to rip off a country? be real. telling everyone he intended to 'do good' with it - well, that makes it ok, does it? and ok, hes in his 70s. so is my dad - and boy, would he tell this guy he'd been a greedy sod. $320,000 - that would have kept him comfy. ignoring the police - thats just bloody minded. sorry, but my sympathy gland doesnt ignore his greed because of his age. aint no money for nuthin, peeps.

What would be amusing

[Joe Tie.]

Is if this actually was true, and there was a rich, confused, Nigerian out there wondering why 100,000,000 English speakers so far have refused his request to make them rich. It's just begging to be made into a wacky sitcom.

The root of the problem...

[X86Daddy]

is that people aren't encouraged to use critical thinking skills. As children, asking why too many times or spotting inconsistencies in explainations is often frowned upon. As adults, questioning your employer is an example of not "being a team player," while questioning your government is "unpatriotic." At any time, questioning an organized religion is usually branded "heretical."

Trust is a good thing. Common sense is good too, but not encouraged as much. Just imagine a world where everyone had plenty of the latter.

And not all debt is bad

[Sycraft-fu]

A house is an asset. All things being equal, it will appreciate over time, and unlike an apartment, your money isn't just being dumped into someone else's pocket.

I'm currently in more debt than I've ever been. I have $100,000 outstanding on a house I got. Before this, I'd never been in debt more than $1000. However, that doesn't mean I'm hurting in a bad way, on the contrary, my mortgage payments are LESS than my rent was, I have one more roomate so I'm paying even less, and now only 5% of what I pay goes to someone else, instead of all of it when I lived in an apartment.

Re:And not all debt is bad

[Frisky070802]

I'm currently in more debt than I've ever been. I have $100,000 outstanding on a house I got....

Assuming your house is worth more than you owe on it, I don't know that this is truly "debt" in the same sense as someone who owes credit card issuers. A debt that is secured by an asset is a completely different animal.

So right, not all "debt" is bad. But neither would I call you in debt over a mortgage. Our friendly scam victim is not only in debt, he's in the doghouse and all that brown stuff that lies around outside that doghouse.

I fell for a scam too.

[Chainsaw Messiah]

I can sympathize with this guy. I fell for a scam too that promised to let me retire in comfort. I don't know how they got my name either. I'm still paying for it today and I'm sure the rest of my life. I'm having 7.5% deducted from every paycheck because of it. Just watch out for these scammers, this group calls themselves "Social Security". I don't know if they're from Nigeria or not though.

Re:I fell for a scam too.

[Anonymous Coward]

What really sucks, pal, is that there is no way to opt out of that pyramid scheme.

You can always have fun with them.

[karmaflux]

One of my friends is currently screwing around with these morons.
Heheheh.

Wife, children, friends?

[khasim]

Maybe it is deteriorating mental faculties.

But his wife couldn't stop him? Does she have the same problem?

Do they have children? Couldn't the children stop him?

Friends? Do they have any friends? Are they all affected with the same deterioration?

Even after he is shown the "black money" scam is fake, he STILL believes that they were legit.

I notice they don't talk to his wife about it.

[OT] Re:It's not a scam

[harlows_monkeys]

However, that fact alone does not make it a good bet, because the variance overwhelms the positive expectation

That reminds me of a question. Might make an interesting Slashdot poll. Suppose you've won a free drawing. You have your choice of the following prizes, each of which has an expected value of $1. Which do you take?

• $1
• A random chance at $2, with a probability of 1/2 of winning
• A random chance at $4, with a probabilty of 1/4 of winning
• A random chance of $8, with a probability of 1/8 of winning
• ...
• A random chance of $4294967296, with a probabilty of 1/4294967296 of winning.

Re:[OT] Re:It's not a scam

[aastanna]

So who's the bigger geek, you for using 2^32 as an example of a really big number, or me for knowing that 4294967296 = 2^32?

sigh

Evolution...

[DrCode]

Unfortunately, it's not "evolution in action", since the man and his wife are well beyond child-bearing.

Great example of endless scam potential

[soloport]

Uh, you'd better check your math. There's much more than 5% going to someone else. Try more like 100-200% of the present value of your home.

Try this out: Multiply your monthly payment times 360 (the number of payments per year, times 30 years -- the typical home loan term). Now divide that amount by the amount you owe the bank. Should be 2.3, more or less, or 230%. And since, on payment, you'll have bought and own 100% out of that 230%, the amount you'll be paying someone else for the privilege is around 130%!

See? Isn't *compound* interest fun? That 5% is not "simple" interest, after all.

It is a good thing you're monthly payments are lower, though. Now you have more "disposable" income to buy, er..., disposables.

No not the darwin awards sadly.

[SmallFurryCreature]

In order to qualify you have to somehow remove yourselve from the gene pool. Since he is 70 already he prob is beyong reproduction and likely has already reproduced. So unless he has to sell his kids for their organs his genes have spread.

I should be more sympathetic? Fuck that. This guy is a criminal. He funded the bribing of officials all in an attempt to defraud a foreign goverment for nothing else then pure financial gain. Rule 1 of being a criminal be aware of bigger criminals. Oh well no doubt a lot of other idiots will help this sucker out proving to him that god exists and that it is goverments who seek to screw people over. God bless america.

419 eater

[swanky]

The grass isn't necessarily greener on the other side of the fence

http://www.419eater.com/index.htm

Cognitive dissonance strikes again

[shanen]

Well, none of the comments I saw made the obvious comment, which is that people tend to believe exactly what they want to believe. The fancy name is "cognitive dissonance" and reduction is the goal. In his case, he desperately wanted to believe that his financial problems were about to be solved by this manna from heaven. Actually, the article mentions his strong religious streak, which I take as symptomatic of the gullibility the 419 scammers are looking for. And now he still can't admit he was wrong.

Actually, what it most reminds me of is many of Dubya's supporters. The bigger the shaft, the more firmly they want to support him. Just won't admit they were wrong. Sad truth is that I don't feel any particular pity for either category of sucker, but the BushCo supporters are doing more secondary harm to me and the country.

The article also mentions the kidnappings and killings. At least some of the few we know about. That reminds me of the /. article a few weeks ago about playing games with these criminals, which prompts me to repeat my warning: These 419 scammers are nasty bastards. Just because their scams are so stupidly hilarious, doesn't mean anyone should try to play any kind of game with them. The "funny picture of 419 scammer" Web sites are doing a public disservice by portraying them as stupid clowns and harmless. They are not. If they pretend to play along with any game, they are just looking for a way to nail someone. It's just more convenient for them if they can find and victimize the stupidest people available.

Twentysomethings have higher risk tolerance

[GuyMannDude]

...I lived through the dot-com stock bubble.

You don't have to be old and retired to be seduced by people promising you 500% returns on $50,000 investments. Twenty-somethings will fall for it if you use enough marketspeak.

There were all sorts of people who lost tons of money in the dot-com bubble, old and young. But here's the thing: when you're young you can risk more in exchange for the potential of higher growth. This is very basic finanical planning: younger people have a much longer horizon and can afford a much more aggressive investing strategy. So it makes sense that twentysomethings would get excited by the possibility of a 500% return. Once you get older, however, any financial planner will advise you to limit your exposure to stocks and start shifting towards more conservative investments. When you're older, you can't be taking wild risks like when you did when you were much younger.

Comparing this idiot with younger people who lost money in the dot-com era is just not right. In this crazy world, none of us can be all too sure of a great many things. I invested in a mix of aggressive growth internet stocks and some nice, stable, reputable mutual funds. So although I lost some money, I didn't come out all that bad. But that's just because I'm a pretty cautious guy. I have some friends my age who lost considerably more because they didn't balance risk. So they didn't come out so well but that's okay because they've got decades in which they might end up blowing me away in terms of life savings. I don't think they're stupid at all, they just have a different outlook on investing than I do. However, those people in the 50s and 60s who lost a shitload of money in the dot-com era deserve my distain as much as this scam guy. When you are getting that close to retirement you just don't take crazy chances like that! That's just being greedy.

So please spare us this supposedly Insightful comment of yours that this scam victim is somehow just like the rest of us. He isn't. He's greedy and he's stupid. And now he's flat broke and I'm not gonna shed one single tear for him.

GMD

Re:The Role of Religion in All This

[computerjunkie123]

"He believes that he is a better human being than people without religion. If you don't want to hate him for being stupid or greedy, then I implore you to hate him for having the arrogance to believe that he is a better person that those who do not subscribe to any religion." And this is why religious people are *sometimes * better people. *Most* religions teach love as the ultimate quality to strive for. You, on the other hand believe it is good to hate someone simply based on what they choose to believe. In fact, this sentiment of yours makes you no better than the radical Islamacists who want to kill everybody who is not one of them. How "religious" of you!

Re:The Role of Religion in All This

[Sivaram_Velauthapill]

Yes, religious people are more gullible--especially when the scammer is a master manipulator of religion. One needs to look no further than the Ku Klux Klan. Yes, they are a religious organization. Just go and read the KKK Charter and you'll find that they justify everything from the Bible. Anyway, so many people actually BELIEVE what the grand dragons of the KKK say about religion. They are just too gullible.

Or one just needs to look at certain countries where religious "leaders" have the following of mass number of people even though the so-called leaders are discredited.

I also think conservatives are more likely to fall for these scams. Conservatives have a habit of living in caves and are more likely to be manipulated. I have no proof of this but I would love to hear of anyone that has done any study tying econopolitical stance with scams.

Sivaram Velauthapillai

Merry Christmas

[dcollins]

I'm astonished that so many posts here think this story is funny, or that this guy (and wife) got what he deserved. This is the saddest story I've read in a while. Of all the lassaiz-faire, libertarian-style thought that flows around on Slashdot, this "stupid people deserve to lose all their money" attitude is the most chilling. I mean, come on, that's the exact same justification made by con men and scammers themselves.

There are people in the world that cannot take care of themselves. Some are retarded or suffer from psychosis or other mental problems. Some suffer from incurable illnesses. Some are too young or too old. Some are disabled and unable to work. And some are just not smart, that is, stupid.

Which of these categories deserve to be broke and homeless? Which of these should we kick to the curb without any assistance or fallback support? Which of these can we laugh at because they're scared about where they're going to be able to sleep or feed their freaking dog?

Tough for me to say that about any of them.