Introduction:
Most Ponzi schemes involve
potential investors handing over money for investments on sure-fire
returns that never eventuate. For a while, the unsuspecting investor
gets statements showing their investment growth, some may even be paid
apparent dividends to keep their beliefs on a high for a while, and to
use as references for new investors. So the money pours in to the fraud
company, and
trickles out as 'dividends', and so the scheme mushrooms. But there is
nothing at all behind the company, and while it fools a lot of people
for often a long time, sooner or later it all falls over, and the
company owners have disappeared with all the money.
Many
advance fee loan companies and scam brokers work on a similar line,
except that customers aren't investing, they
are wanting to borrow capital for projects. They are enticed into
paying huge up-front fees to get the loan process started. So a loan
applicatant pays thousands of dollars in fees, and then the snow job
starts. No
loan ever eventuates, and the loan company or broker company just hang
onto the borrowers money while changing the goalposts and seeking
further information from the client for as long as possible to stall
proceedings. A well rehearsed trail of excuses continues until the
client gives up. It is always then too expensive to recover fees
legally as most deposits have been made to an overseas 'corporation'
which always seem to be registered in the Cayman Islands, Bahrain,
Vanuatu, Costa Rica or other such 'tax haven' countries where the
pursuit of refunds becomes impossible. A
"Nigerian" style Ponzi scheme.
And
when a client does jump up
and down and demand their so-called "refundable" fees be returned,
they inevitably are told that there will be break costs and charges or
other fees that will (or have already) been incurred by the lender and
therefore cannot be refunded. It is all hidden away in the fine print
of the initial application documents.
There is also a current warning on the USA website "Cyber Crime Ops".
________________________________________________________________________________________________________________________
Update June 30, 2012
Since first publishing this webpage on Wentworth, we have received dozens of complaints
and evidence
of the scam being perpetrated by this man and his associates listed
below. And we have found that Wentworth, when questioned about why our
website exists, reverts to attacking us and alleging that we are
blackmailing him.
Typical is this email below from wentworth to a potential victim in New Zealand:
"Mr.
Txxxxxxx,
The
Wikifrauds posting is from a finance broker with whom I have no relationship.
Internet postings such as these are difficult if not impossible, to trace as the
people who post the messages, never identify themselves lest they be sued. In
the Wikifrauds case, the broker threatened to do what he has done unless I paid
HALF A MILLION UNITED STATES DOLLARS TO HIM. I never had any obligation
to him at any time so it is simple blackmail and as such has been reported to
the appropriate Authorities. Legal action has been taken against the offender
and accordingly I am limited in what I can reveal.
I have been
in business since 1960.The people and banks that know me, take no notice of such
postings however should you elect not to proceed, I will take this opportunity
to wish you the best for your project.
Regards,
Dean
Wentworth"
There has been no legal action whatsoever.
We welcome Wentworth to do exactly that, and if he wishes to contact us
we will gladly provide him with details of our law firm to enable him
to commence proceedings.
Wentworth's Associates in crime:
Jeremy Whitley Michael Briscoe
Welcome to
Wikifrauds
