African Gold Scams and Fraud - Alluvial Gold Dust Buyers and Sellers

GET VETTED OR GET LOST!!!

Silence is fraud's best friend. Word of mouth is fraud's worst enemy. Pass the word!

Precious metals should never be purchased from or sold to anyone other than a precious metals broker or seller of good repute. Good repute can only be established by independent research performed by the buyer or seller before getting involved in any transaction.
There are many sites on the Internet that provide an excellent education about various precious metals such as gold and platinum, and one should never consider getting into the precious metals market without a thorough understanding of every aspect of the metal of interest, including its mining history, differences in value, history of values, market routes, all uses, best known dealers, political impact on the value, pitfalls, risks, what is possible and what is not possible, and much more.
Buying and selling gold can be as simple a transaction as working with a local coin dealer or jeweler for small amounts such as heirloom jewelry or a few coins. When the amounts are significant, transactions are much, much more complicated and should not be handled without experienced and specialized advice, again - from a reputable precious metals expert.
Scam:
Gold scams are among the most popular of the precious metals scams. Gold scams have been a traditional scams among the Nigerian fraudster families for generations.
Gold scams come in many forms, from buying phony gold mines to buying non-existent gold bullion. Many gold scam deals involve gold supposedly stashed in the Philippines, in Swiss vaults; left over from the Marcos regime, from World War II Nazis, straight from mines located in Nigeria or other African nations; in 99.9 gold bars, powder, refined, unrefined, and on and on.
Scam artists often want the victim to show up at some bank with a suitcase full of money. The money isn't going into the bank, the suitcase is merely being "exchanged for pure gold". Whatever the means of money exchange, it is always "in advance" of the release of [fake] documents or the non-existent gold or coated ingots. That is why these scams are generically known as Advance Fee Fraud.
Sometimes the scams are simple, sometimes complex involving securities, BLOCKED FUNDS, insurances, special transportation arrangements, PARALLEL ACCOUNTS, banks in several countries, the Federal Reserve, HISTORICAL GOLD BONDS, and whatever combination needs to be assembled to part the unwary from their money. Some of the more popular scenarios involve Arab princes or emirs (usually princes) and royal family names are bandied about with abandon. Regardless of the claimed title or affiliation, it is always a name or title that is meant to inspire a feeling of privilege in the target: Rubbing elbows with the rich and famous.
All documents are fake. Some were the genuine article once upon a time, but those shown to buyers or sellers caught up in these scams have been greatly altered to fit the occasion. This includes documents of authenticity, assayers' reports, customs documents, insurance documents, shipping documents, sales documents, provenance reports, ownership transfer documents, bank documents, storage documents, mine reports, etc., etc.
One must also watch for attempts at incriminating the targeted victim by way of persuading the target to lie about the source of the gold, supposedly in order to slip the shipment past local or international restrictions. This gives the fraudster leverage over the target to use at a later date to manipulate the target into obtaining more funds. The leverage is entirely fake, but the target doesn't know this and believes he or she has broken the law and may rot away in a foreign jail for the rest of his life.

"I NEED GOLD DUST BUYERS!"- GOLD DUST SELLERS BEWARE!!!

"I NEED GOLD DUST BUYERS!"- are the postings that I read all over the internet from business to business websites (b2b). What most alluvial gold dust intermediaries do not realize is that this can be an attractive catch line, but it is the one that can get you into the most trouble. The next following steps will usually consist of sending a SPA, FCO, or even worse...banking information including but not limited to MT103/23, MT760, MT799. DON'T DO IT!!!

Gold dust Sellers beware! My company, DREAM System, LLC has started a campaign to stop the massive frauds and scammers that take advantage of innocent gold dust investors. We have started informing ALL gold dust Buyers NOT to purchase until the gold dust Seller has been vetted (verified that they are real).

Not to worry gold dust Sellers! Since the gold dust Buyers are vetted too, you should have no reason to be paranoid with your alluvial gold dust transactions unless you're a fraud. Isn't it time you all found real jobs or work for a real gold dust Seller? It always amazes me the amount of energy, resources, and conning that goes into these fake gold dust transactions. Why not apply it to the real deal? DREAMS is changing the gold dust industry, so it's time you fraudulent gold dust Sellers move on!

Written by Roger Singh of D.R.E.A.M. System, LLC at www.24KT.cc or www.alluvialgoldconsultants.com

Alluvial Gold Dust Industry- The Ultimate Scam?

Written by Roger Singh of D.R.E.A.M. System, LLC at http://www.alluvialgoldconsultants.com/

The alluvial gold dust industry is a breeding ground for fraud and scams. This unregulated, never closely watched, internet based industry is plagued with scams. Many of the world governments try to prevent this, but they under estimate one very important component, the component of "greed".

Greed is why I see so many grown men cry in the last five years of being in the alluvial gold dust industry. These gold Buyers and gold Sellers let their guards down in hope of prosperity. The gold Buyers send their life savings to a stranger that they never met, that pretends that fiat money is someway better than gold, half way around the world. The gold Sellers send gold dust to burnt, unremorseful, revengeful gold Buyers that will do anything to get out of the position that they were put into by a fraudulent alluvial gold transaction. What a vicious cycle!

The answer to the problem is quite simple. First, put a set of procedures that EVERYONE must follow. That includes gold Buyers, gold Sellers, and gold Intermediaries. Second, have the person or company that you are dealing with be vetted by a neutral third party. They will have no reason to lie to you. Lastly, always utilize local resources that you can trust. An example is your banker, lawyer, consultants, etc. Build on people you can trust and go from there. If you do it backwards, you might be the next grown man or woman crying in front of me. How much longer can we be oblivious to this corrupted system? Let's all start by educating ourselves.