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12-30-2007, 04:19 PM
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lottery scam, but of a different sort...
Hello all. I am wondering if any of you are familiar with what I believe to be a scam. I know an individual who is in deep with few hundred thousand USD, and I warned and pleaded withhim not to do it, but he did (greed can do some funny things). He is still holding out hope, but I see him slowly beginning to realize it may not be so.
Basically, a business associate of his (both are in US) has dealings in Africa and travels there for business quite a bit. They have taken part in a venture where they are going to secure a license from the government of an unnamed African nation to print and distribute scratch-off lottery tickets. The return on investment is astronomical (first red flag). The money is supposedly being used to grease certain local officials to ensure this happens (another red flag). This has been going on for months. Delay after delay. I told my friend his business associate is in on it (this man was born in, and lived a long time in a neighboring African nation, he is well aware of the business climate there). After many delays, my friend went to this nation. He spent a couple of months there waiting it out. While he was there he was taken to elaborate offices, shown what he saw as tangible evidence this was real (but if the con is for such a vast sum of money, you would think the conmen would invest a bit and go out of their way to make it look good; also, they are probably working others at the same time - I joked to my friend he may have passed other victims in their offices when he went in there). Anyone familiar with this? 
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12-30-2007, 05:04 PM
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Dear robertplant
Welcome to this forum. Uninformed people may be scammed, but greedy and fool people they will sure be scammed. This post seems as key study because you do not give more clues. Reading here many posts you will see that some African goverments are also corrupted or cooperate with scams and cover them avoid get caught.
__________________
Better safe than sorry 
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12-31-2007, 12:41 PM
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Hello. Sorry I was a bit vague. The country is Ghana. Now Ghana is more modern than most sub-Saharan African nations. There are expat business people who have been there for many years, and are very well off. I would think they would have taken this opportunity years ago. Don't you think? Something so lucrative (as this scratch-off lottery is supposed to be) is to be left undone, for years, until two small fish from the US come in and do it? I just can't see it. Now, as I mentioned in my post, one of the principals involved lived in I.C. for many years (let's call him A). He is also close, blood relative of my friend (let's call him B - perhaps this is why my friend thinks he is in good hands). I am thinking no way this guy could be so stupid as to fall for this. I think he is in on the con.
Also, here is a further twist. My friend (B) remained here in US, while his partner (A) was there supposedly taking care of everything. So A starts requesting more money from B. B sends a bit, and then sets out for Ghana. He arrives in Ghana and is there awaiting the launch of the venture. This basically consists of printing and distributing tickets. Deadlines pass and A then informs B that their local partner has been lying and is not qualified for this, so they dismiss him and find a new partner. In the meantime, the old partner revokes B's invitiation to remain in the country, and B is then arrested and jailed for 3 days until he is released under the condition that he leave the country that day. A remains there. The launch is supposed to be next month. Sounds like the biggest con to me, but remember these two (A and B) are very closely related and A's family remains in the US, awaiting his return. The main point I was trying to bring up to my friend is that, if this is such a sure bet, such a lucrative venture, whey the hell hasn't it been done already? I mean you are talking about Ghana here, not Congo or Benin. I know there are a lot of elaborate hustles in Africa, but has anyone ever heard of this one?
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12-31-2007, 01:48 PM
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If you read info about Ghana you will understand that there is no chance a lottery to give profits
""Ghana opted for debt relief under the Heavily Indebted Poor Country (HIPC) program in 2002, but was included in a G-8 debt relief program decided upon at the Gleneagles Summit in July 2005."" This comment is from CIA year factbook https://www.cia.gov/library/publicat...k/geos/gh.html Therefore any involvement is such bussiness may cause loses. As ex bank executive I should never advice my clients to invest even a dollar in this case.
__________________
Better safe than sorry
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12-31-2007, 09:42 PM
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thanks for your input Mercenary. Do you have any experience with Benin, specifically Cotonou? I have been shipping autos to an associate there. We are doing well, as they sell immediately, sometimes while they are being offloaded. I am planning a trip there to see if we can expand into other things. Any advice would be welcomed. Thank you in advance.
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12-31-2007, 09:55 PM
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Dear robertplant
Read the followin economic info about this country Economy - overview: The economy of Benin remains underdeveloped and dependent on subsistence agriculture, cotton production, and regional trade. Growth in real output has averaged around 5% in the past six years, but rapid population growth has offset much of this increase. Inflation has subsided over the past several years. In order to raise growth still further, Benin plans to attract more foreign investment, place more emphasis on tourism, facilitate the development of new food processing systems and agricultural products, and encourage new information and communication technology. Specific projects to improve the business climate by reforms to the land tenure system, the commercial justice system, and the financial sector were included in Benin's $307 million Millennium Challenge Account grant signed in February 2006. The 2001 privatization policy continues in telecommunications, water, electricity, and agriculture in spite of government reluctance. The Paris Club and bilateral creditors have eased the external debt situation, with Benin benefiting from a G8 debt reduction announced in July 2005, while pressing for more rapid structural reforms. Benin continues to be hurt by Nigerian trade protection that bans imports of a growing list of products from Benin and elsewhere, which has resulted in increased smuggling and criminality in the border region There are also from a reliable source CIA year factbook https://www.cia.gov/library/publicat...s/bn.html#Govt Another thing that worrys me is political situation in Nigeria that may effect to all coyntries arround. I should avoid to travel there. Any sell must be covered by irrevocable letter of credit guaranteed from a reliable correspondence bank of western world and the amount payable upon shipment.
__________________
Better safe than sorry
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12-31-2007, 10:16 PM
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Thanks for the info. There has been much investment in port infrastructure and now Uncle Sam has been cozying up to Beninese gov. With the dollar being so weak, American products are more and more attractive.
My associate spent many years here in the US. He says it is relatively safe compared to other countries. He was in Ivory Coast and left b/c was a dangerous society (political turbulence and lots of guns on the streets).
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01-20-2008, 10:00 AM
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Lottery Scam
You have a forum and it's wonderful. But how can you help those
who already have been cheated by the scammers. I certainly would like to wait for a while and read as many reports as possible. Yes, and it's true, i too have been cheated.
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01-20-2008, 01:50 PM
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Quote:
Dear JAGDISH NAYAK Welcome to this forum. Speaking the truth, unfortunatelly nothing can be done for already scammed in most of cases. Reporting a scam, if and when he may be caught, you will not have any refund. If you want to feel even with the scam inform all other innocent people avoid to be scammed.
__________________
Better safe than sorry
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