A Man with Only an Elementary School Education Managed to Scam a Rich Businessman from a Namely University in the U.S. for Two Hundred Million Dollars

You have to wonder: H-O-W!, right???  From the Newspapers, translated…

A man, Chung Chen, with the priors in fraud claimed that he was a manager of a hedge fund, that he was in charge of a hundred billion U.S. dollars, then, he’d forged the documentations from the banks, and tricked a rich businessman, Lin, to invest with him, Lin got scammed for two hundred thousand million dollars, but because he felt ashamed and stupid, he’d kept it covered up, until two years later, but, he wasn’t able to get a single CENT that he’d lost back again.

The District Attorney’s Office in Shihlin indicted Chen on fraud, falsifying documentations, of the stocks, the female secretary, Hsiao, and accomplice, Wang were also, indicted as well.  The D.A. believed, that Chen and his scam ring claimed that they’d “wired the two hundred million dollars abroad, and don’t know where the money is anymore”, after they were caught, they showed bad attitude, and so, the D.A. asked the courts to give them all, heavier sentences.

The D.A. pointed out, that the seventy-year-old Chen only had an elementary school education, but, with his articulateness, he was able to persuade so many others in Taiwan and China.  And, as the Pacific Island of Palau became independent in 1994, Chen had falsified the ads of “Buying up properties in Palau”, when he’d gotten charged with fraud too.

The rich businessman, Lin graduated from a namely university in the U.S., he said, that as he’d worked in Jiangsu back in 2010, he’d met Chen, Chen falsely claimed that he was a hedge fund manager of the foundation left over from the revolutionary times, that he was in charge of overseeing an account of ten billion dollars U.S.D.

Later on, Chen provided for the falsified documentations of two foreign banks, with the total of over two hundred billion dollars in assets, and, all those present all chimed in on how he had that much money, and stated that the setting up of the roads and the freeways, as well as the transportation systems in Taiwan, was aided with his foundation, that, was why Lin had trusted him.

Chen then falsified that the hedge funds had a plan, that he’d only needed to invest in the projects, then, Lin could get the returns of twenty billion U.S. dollars in return, Lin thought it was for real, and actually wired the twenty million dollars to him.

Uh, how GULLIBLE CAN you be?  And this still just shows, how those get-rich-quick schemes are still appealing, to a TON of SUCKERS, and, it’s still all due to greed, that’s gotten this “investor” SCREWED!

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Filed under Abusing Someone's Trust, Awareness, Being Exposed, Cost of Living, Expectations, Life, News Stories, Observations, Scams, Stupidity

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