Here is how this scam works...
First, they get you to fill out their Representative Contract. Then they actually start sending you checks, money orders, and cashiers checks. You deduct your 10% from the check(s) along with the bank fees and wire them the balance. Only the checks are fraudulent. The bank notifies you of the chargeback(s) and you are left holding the bag. The bank will require you to bring your account current if in the negative. This also opens the door to a check kiting charge for each debt instrument submitted. Also, under the new Patriot Act guidelines, you will be subject to Federal scrutiny in an on-going investigation into all your banking regarding money laundering charges opening the door to all kinds of negative government intervention including the IRS. This is not the type of tax claim you can claim as a loss. Since you actually signed a contract, though civilly unenforcable, you have admitted to "intent" in the creation of the illegal activity.

It gets better...
Now that they have your name and address to where they are supposedly sending your "paycheck" to, they can now access your credit. Quite easily as a matter of fact. As a business owner, I subscribe to Equifax, and all you need to pull a persons credit is the name and address. You do not even need a social if the person has made an inquiry to their credit within the past year. And there you go a stolen identity.

Since most of these scams originate in Nigeria and clear their funding through the UK and have numerous access points through the credit system, they can generate bank accounts in your name in other countries using your personal information.

This is also why you should never divulge any personal information in a "Refi or second mortgage" scenario. People from India call and want to know if you are paying more than 5% on your current mortgage. Well who doesn't? But yet you are probed with questions of all types regarding your personal financial information to someone you have no affiliation with what-so-ever.

If you want to give your life away, do it in the prescence of the Holy Spirit.

Ask God as you should do always in all things.