Still more scams?

by | Feb 17, 2001 | Archives

Wow, the scam artists seem to be really out in full force right now. I am getting loads of requests for data about private wealth clubs all offering double digit returns. Read below what another reader wrote.

Dear Gary,


This is an offshore private investment club paying 12% a mo. on cd.s of 6 months.Do you know this club?

My reply says it all!

I do not know Maximom and they certainly did not let me know who they are on their web site. I do not know if they are genuine or not, but would not pursue this further myself because what I do know is that 12% per month CDs in US dollars in the current atmosphere is not possible except in the riskiest of situations. Really be double beware of this. I have seen so many so called wealth clubs come along and have never seen anything happen except observe investors be milked of what they put in.

I have asked our eClub advisor Steve Rosberg who was an International banker managing hundreds of millions of dollars for some of the largest, most reputable banks in the world to post some more information about this at our forum site. I want to encourage all of you to use this forum site to warn one another about scams you come across.