Home ScamsAdvance Fee Scams ‘Investment Proposal’ Advance Fee Scam

‘Investment Proposal’ Advance Fee Scam

by Brett M. Christensen

According to this email, Mr Yang, a friend of  Mr Chen Shui-bian, the former President of Taiwan,  has a lucrative investment proposal for you. Supposedly, Mr Yang needs your help to relocate $49 million “in such a way that it must not be tied to Mr. Chen Shui-bian”. 

To that end, he wants you to act as the original beneficiary of the funds and receive the money into your own bank account. And, as compensation for your help, he will allow you to keep 20% of the total fund.

The email links to a 2009 BBC News report about Chen Shui-bian that indicates the former leader was jailed for life for embezzlement, taking bribes and money laundering.

But, in fact, the email has no connection to Chen Shui-bian and the $49 million is nothing more than a figment of a grubby little scammer’s imagination.

The message is a typical advance fee scam designed to trick you into sending your money and personal information to online criminals. If you reply, the criminals will claim that you must send money to cover various fees before the funds can be transferred.
Requests for money will continue until you run out of money to send or realise that you are being scammed.  At the end of the scam, the criminals will disappear with your money in their pockets. You will never get this money back.  Nor, of course, will you get the promised millions, which never existed to begin with.

Furthermore, the criminals may have managed to harvest a good deal of your personal and financial information during the course of the scam. Enough, perhaps, to steal your identity as well as your money.

Advance fee scams like this one have been around for a very long time and predate the Internet.  Nevertheless, such scams still manage to gain new victims every day.

You can learn more about advance fee scams here.

 

An example of the scam email:

Re: INVESTMENT PROPOSAL

Dear Prospective Partner,

I am contacting you regarding transaction linked with Mr. Chen Shui-bian the former President of Taiwan. My name is Mr. Yang, my friend Mr. Chen Shui-bian has presented a subtle offer which will need the help of a partner like you to complete successfully. Mr. Chen Shui-bian is in a difficult situation and he must immediately relocate certain sums of money. More so, this must be done in such a way that it must not be tied to Mr. Chen Shui-bian. The sum is currently deposited in the name of an existing legal entity. Your role will be to:

[1]. Act as the original beneficiary of the funds.
[2]. Receive the funds into a business/private bank account.
[3]. Invest/Manage the funds.
[4]. Value of funds: (US) $49 Million.

Everything will be done legally to ensure the rights to the funds are transferred to you. If you agree to partner with Mr. Chen Shui-bian, he will compensate you with 20% of the total sum for your role as the beneficiary partner to the funds. Should you prefer I re-contact you with more express facts, you can send me your:

[1] Full Names:
[2] Personal Profile:
[3] Daytime Telephone No:

Be advised to visit the following link to be better acquainted with Mr. Chen Shui-bian’s current profile and personality.

http://news.bbc.co.uk/2/hi/asia-pacific/8250099.stm

You can email me for further details, terms and agreement.

Sincerely,
Mr. Yang

Importance Notice

After considerable thought and with an ache in my heart, I have decided that the time has come to close down the Hoax-Slayer website.

These days, the site does not generate enough revenue to cover expenses, and I do not have the financial resources to sustain it going forward.

Moreover, I now work long hours in a full-time and physically taxing job, so maintaining and managing the website and publishing new material has become difficult for me.

And finally, after 18 years of writing about scams and hoaxes, I feel that it is time for me to take my fingers off the keyboard and focus on other projects and pastimes.

When I first started Hoax-Slayer, I never dreamed that I would still be working on the project all these years later or that it would become such an important part of my life. It's been a fantastic and engaging experience and one that I will always treasure.

I hope that my work over the years has helped to make the Internet a little safer and thwarted the activities of at least a few scammers and malicious pranksters.

A Big Thank You

I would also like to thank all of those wonderful people who have supported the project by sharing information from the site, contributing examples of scams and hoaxes, offering suggestions, donating funds, or helping behind the scenes.

I would especially like to thank David White for his tireless contribution to the Hoax-Slayer Facebook Page over many years. David's support has been invaluable, and I can not thank him enough.

Closing Date

Hoax-Slayer will still be around for a few weeks while I wind things down. The site will go offline on May 31, 2021. While I will not be publishing any new posts, you can still access existing material on the site until the date of closure.

Thank you, one and all!

Brett Christensen,
Hoax-Slayer