Possible Quixtar Associated Pyramid Investment Scam - 419-Legal Fraud and Scam Forum

gordon_bennett · #1 (**permalink**) 05-07-2007, 02:49 PM

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This looks like a scam. I have a frined involved in this who refuses to believe he's been scammed. What do you think?

World Alliance of Mayors and Local Officials

glotharigus · #2 (**permalink**) 06-13-2007, 03:28 AM

What is it about this organization that raises your suspicions exactly? I too know someone who is involved, but the organization has asked for no money at all. I need to know specifically what if is that doesn't "feel" right about this to you, if they are a scam, what is their angle? Anyone who has information about this organization please respond.

dpolk · #3 (**permalink**) 02-14-2008, 03:58 PM

I am totally confused by these guys. Would someone please help me understand how WAM "funds' projects? I feel uncomfortable now about them but would be willing to be turned in my thinking.

DP

dpolk · #4 (**permalink**) 02-15-2008, 01:43 AM

I appreciate your input. Has anyone know of any deals that have ever been done by them? I am an investment banker in the DC area and I spoke with their representative today and he was very nice but totally non-informative. Creeps me out a bit.

DP

bandman33 · #5 (**permalink**) 02-16-2008, 05:15 AM

I can not stress enough how this organization is a scam in every way! They are going around the country with promises of "free money" while they steal money from innocent people. Check out these links:

Fraud Investigation / Prevention / Financial Asset Recovery / Domestic & International
Prime Bank Fraud Information Center
FRB: Testimony, Biern -- "Prime bank" schemes -- July 17, 1996
News Brief: IMF AGAIN WARNS OF FINANCIAL SCHEMES MISUSING ITS NAME
Bank Debentures & High-Yield Investment Programs: The hottest scam going - scam artists capitalize on your greed by promising you 50% per week or better interest, but they are really just keeping your money and sending you a bogus statement. Just try
Quatloos! -- High-Yield Investment Programs & Bank Debentures Gallery

These are only a few links, there are thousands! Many people everyday get sucked in to these Ponzi Scams, run while you still can!

dpolk · #6 (**permalink**) 02-17-2008, 07:24 PM

Here is the basic deal. They promise that in funding a business that has a humanitarian or "green" dual purpose along with profitablility you go out and get huge loans against your business. World Alliance of Mayors promises to pay off that debt or even re-capitalize your original banking relationships with no benefit to them at all. I am not sure what they are up to. Make sense?

dpolk · #7 (**permalink**) 02-17-2008, 07:38 PM

Bandman33,

Have you ever heard of World Alliance of Mayors directly?

dpolk · #8 (**permalink**) 02-18-2008, 03:22 AM

Please send me the FBI warnings on them. I would really appreciate it.

Thanks Mercenary.

DP

mobettablues · #9 (**permalink**) 03-08-2008, 12:50 AM

It's simple arithmatic - has your friend been promised money for a humanitarian-type effort he believes in from WAM? Has he ran himself ragged getting documents or money together for WAM to fund 'the dream' and received little or no reply to those docs? Has he been asked to provide/produce a letter/line of credit? And most important - has he received his funding when he was promised that he'd have it? Most scams (like people are suspicious of here) work very slowly and cautiously. Baiting its victims little-by-little to get your confidence and trust. I'd monitor the promises vs. delivery on it and find out how WAM's been doing as far as "moving things along." Also, many of these "scams" become leeches and need YOUR contacts to keep going. Watch for a lot of "free meals" from you FOR them and the constant reminder that the principals are traveling abroad for YOUR benifit. Lastly, if they take the religious angle on thier 'pitch' I have three words for you...RUN FORREST, RUN.
Hope that helps - my partners were screwed big-time by a VERY similar set-up in Tennesee and North Carolina, claiming virtually everything I've read here today. Good luck and remember -- if it seems too good to be true - it IS

mobettablues · #10 (**permalink**) 03-08-2008, 12:57 AM

Sounds like a lot of people are weary of this group - should be fun to track/watch over the next season.

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