Club Homepage Forums Classified Ads Buy & Sell - Everything But Airplanes Red Hot Buyer?

Jeff,
Of course you are right. This whole deal sounds as strange as a three dollar bill. I smells really fishy. However, I have had some pretty strange transactions with foreigner buyers. When I was in the manufacturing business we sold a lot of stuff off shore and on a couple of occasions we just got orders out of the blue, no quote no negotiations, just an order. Once we had secure funds we would ship to a forwarding agent. If this guy can put $45,000 in my bank account he can have the airplane.

No way will I release a title or airplane until collected funds are in my bank account. (I was borne at night but it wasn?t last night.)

I know nobody has to tell you this, but others may not realize that this is exactly what these scammers rely on! They send you paper that you deposit into your account. Looks good! The "money" shows up as part of your balance, and you're told by the bank that "Yes! You can spend it!" Must be a good transaction, right? It is, up to this point! So you ship the item and sign over ownership!

In this day and age, we assume that every finanacial institution in the world is interconnected electronically, and a transfer of funds takes little more than a computerized verification. Fact is, even though an institution may have the latest technology the world has to offer, it doesn't guarantee compatability with every other technology. When the systems can't talk to each other electronically, they then must fall back on paper transactions to finish legitimate international deals. That takes time, and gives the scammers time to receive their bootey and disappear.

So, a week or so after the funds are deposited and the deal is completed, the paper finally makes it's way across the ocean and is rejected as phoney by the originating bank. By the time your bank is notified, not only are you scammed out of the item, but you're liable for any of the deposited "funds" that you spent! There are many variations on this, including "I'll send you a bigger check than needed to cover costs, you take what is needed, and send me back the difference!"

Never send or spend anything until verification of the transaction is received by your bank! A "deposit" means relatively little!

Is that about right, Jeff?

I am amazed to learn that you are a banking expert too.

Do you have any idea of what COLLECTED funds are?

I don?t have a clue as to how your bank works but mine will not credit a deposit to my account until they have collected the funds.

I do my "banking" at a Federal Credit Union! The laws may be a little different for them. I wouldn't know, as I definately am not a banking expert (you'll notice I did ask Jeff for verification of my thoughts, above!). But yes, I can deposit any manner of funds (personal checks, business checks, etc.) into my account, and have immediate access to the funds. I did exactly that just this weekend! I have also done this a couple of years ago with a fairly large international money order. According to several anti-scamming websites, many banking institutions still honor deposited funds before verification, which gives the scammers their power. Of course, the small print that I signed when I opened the account relieved the CU of liability, which becomes mine alone if I use the funds! There is a warning that I am liable for any shortfall in funds should the deposits later prove to be dishonored. Risky business, at best!

When you depend on the knowledge of others (the internet) you might appear to be an expert on any subject (I caution that one could just as easily appear to be a flaming idiot!)

I am merely expert at surfing the internet! I learned about scams by looking for information on a few that have been tried on me. Just search for "scams" to see what I mean!

This reminds me of something that happened to me just recently. My credit card info was stolen online and two checks bounced after they had already cleared my account! I asked the bank how that was possible and they said the bogus charge card purchase was already in the system when the checks cleared. Huh? The charge card purchase didn't post for two days after the checks cleared!!! I still don't understand how they could go back and bounce a check they had already cleared with sufficient funds?!!!

Here is the latest exchange with my ?red hot? buyer. This scam is so old that it has a beard. It will be interesting to see how he handles the escrow agent.

(I gota get a life)
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Sujikama Kenzo wrote:

I have made an arrangement with my client in your region to send you a check in the amount of $100,000 when the check clears your bank, I will like you to make the payment of $45,000 on the aircraft, and the balance of the funds should be sent to my agents account who is trying to help me secure a license of aircraft operation in the ministry of aviation in Japan, Why I need your assistance in this transaction is because my client said their company do not wire funds to oversea countries because of their policy. I will get in touch with my freight agent as soon as I hear from you to prepare for the transportation of the aircraft, if you consent to my proposal I will need you to forward me your information on how the check can be made and sent to you also I will need your phone number for my client to get in touch with you, I hope you understand.
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My Reply:
I do not feel comfortable in handling your money.

If you will set up an escrow account and transfer your check to them I will send the airplane bill of sale and title to them. When the funds are collected they will issue a check to me in the amount of $45,000, transmit the bill of sale for the airplane and the title application to you. The escrow agent will then transmit the balance of the collected funds to anyone that you wish. The Aircraft Owners and Pilots Association (AOPA) operate an escrow service and are well acquainted with the process of transferring payments and aircraft title documents. You can find them at http://www.aopa.org/.

You can use the phone number listed in my ad. I will supply my physical address to the escrow agent that you select.

Just let me know when you have engaged an escrow agent.

Wayne Westerman

Despite how old of a scam it is Wayne, a guy on one of my guitar forums just got burnt for $400 on the deal. As soon as he mentioned it, I contacted him to warn him and he stopped on sending the guitar, but had already sent the money order and it was gone (the extra money).

What amazes me is that there is not a way to really sting this crooks.

Anyway....sorry that is the only offer so far.

I have had a good deal more interest than I expected by this time in the game. I have one potential deal working that really looks good. No rush, I am not what you would call a motivated seller.

go to http://www.wendywillcox.50megs.com/ if you want a good laugh and want to have some real fun.

Great fun John. Thanks.