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  1. #11
    Senior Member carverman's Avatar
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    Quote Originally Posted by kcowan View Post
    They take the loss if insufficient tickets are sold and book a profit is more are sold. It is a risky proposition and many of the home lottery charities have taken losses (due to competition making them a tougher sell).
    It would have to be registered with CRA as a charity in the first place, and given a lottery licence that has to be made public,
    and the property in question would be bound to be disposed of under the rules that the charity has to abide by, I would think.

    Then, if insufficient tickets are sold and the property is not won by a successful bidder due to insufficient $100 entries, (not donations), the money collected would have
    to be refunded to each registered entry, or the lottery organizer would have to take a loss...I believe, otherwise the couple face the risk of running afoul of the CRA.

    Any other scheme could be deemed to be a scam, because for instance..
    if I were to open a web site and advertise a "contest" on my property, (which would be valued at a certain value by a real estate agent) and advertised that for a $100 entry fee,
    you submit your entry stating why you would want my property, I would choose the winner and that winner would receive my property.

    If there were insufficient entries to reach the "reserve amount",
    then..too bad..you would lose your money and I keep it. If there were more entries than the value set for my property, I would keep that as a bonus.

    Sounds too good to be true..and a scheme ripe to rip off any idiots out there that would want to send in their money.

    Now a hospital lottery/sweepstakes is different..there the proceeds of all $100 tickets go into a charity pot and money is used, (after paying for the prizes of cars and a fancy home),
    for the hospital building fund or whatever purpose the hospital deems the money will be used for. Hospitals are public institutions funded by the provincial gov'ts, so they can get
    lottery licences easier.

  2. #12
    Senior Member Beaver101's Avatar
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    http://www.thestar.com/news/investig...13m_later.html ... not a pleasant experience to have so keeping the thread/warning updated.

  3. #13
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    Here's one for landlords...I've read they are currently in Alberta.

    http://www.cbc.ca/news/canada/britis...ride-1.1307443
    I'm not JustAGuy (without spaces), or Donald, or <insert name here>.

  4. #14
    Senior Member Beaver101's Avatar
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    http://www.thestar.com/news/gta/2014...e_cottage.html ... not sure if there is a season for scams but don't fall for this one - buyers' (renters in this case) beware!
    Last edited by Beaver101; 2014-08-03 at 11:25 AM.
    Everyone should be respected as an individual, but no one idolized.-A. Einstein

  5. #15
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    Yes, that is an old and common scam. Hopefully all landlords are familiar with it...

  6. #16
    Senior Member Beaver101's Avatar
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    Fraud and abuse of the elderlies doesn't necessarily come from external forces ... http://www.cnbc.com/id/101920770 .. disgusting.
    Everyone should be respected as an individual, but no one idolized.-A. Einstein

  7. #17
    Senior Member carverman's Avatar
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    And when it comes to fraud in Canada..it's not just the seniors who get taken, but a percentage of seniors do..

    http://www.flippingfrenzy.com/category/canada/


    and who can forget "Concrete Equities' on Dragon's Den...

    http://www.canadianbusiness.com/inve...ies-investors/

    Investors, meanwhile, were in the dark. “We never had an annual meeting. We never got a financial statement,” Town says. As long as the dividends kept coming—Concrete paid out just under $5 million to investors between 2005 and 2008—nobody fussed. Inside the company, though, things were worse than investors could have imagined. “They were basically running everything out of just one bank account.…They figured they’d just keep raising money and paying back the ones with the money they’d been using,” Steven Butt, president of brokerage and property management firm Avenue Commercial, which sold a building to Concrete and continued to manage it under contract. The only difference between this and a Ponzi scheme was Concrete Equities had some assets. But perhaps not for long.
    Hmmm? "Rob Peter to pay Paul'...that's been around for a long time..nothing new here.
    Last edited by carverman; 2014-09-05 at 04:26 PM.

  8. #18
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    On a lighter note, this is an oldie but a classic. The "P-P-Powerbook" story. How a scammer got scammed.

    https://encyclopediadramatica.es/P-p-p-powerbook


    Here's the PDF link. A long read but well worth it, great poetic justice.
    http://joi.ito.com/images2/thepowerbook.pdf

  9. #19
    Senior Member carverman's Avatar
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    This story falls under the title: There IS NO FREE LUNCH!..people.

    An Ottawa couple have spent three days leading on scammers who are trying to manipulate the couple into paying thousands of dollars to receive a lottery prize.

    "[They were] so persistent, it's unbelievable," said the wife.

    This kind of scam is called an advance fee fraud, in which victims are conned into paying taxes on millions of dollars they've supposedly won before they can receive the prize money.

    On Tuesday night, Paul and Carole <name withheld) received a phone call telling them they'd won $2.5 million and a 2014 Mercedes Benz. The scammers told the couple they qualified for the lottery prize just by using their credit and debit cards.

    "We immediately were skeptical of it, but I had time on my hands so I thought, OK, I'll just see what the scam is," the husband said.
    "It was kind of fun for a while."

    The couple were emailed a raft of official-looking documents, pictures of supposed former winners, pictures of the car and an invoice for $5,000 dollars in taxes and fees, the amount they'd have to fork over before getting the payoff.

    The scammers also kept phoning back, telling the couple not to let anyone else know about the transaction and win, including their own bank teller.

    When the couple finally told them they were onto the scam, other people called the <namewithheld> claiming to be lawyers, wondering why they didn't want the prize.

    "I contacted the police and they have so many calls of this type that they just can't address them," said the husband.

    Ottawa police say no legitimate lottery will ask for money up front.

    "So if you ever get a call saying you've won something but have to send them money, that should be a red flag right there," said the Ottawa Police Staff Sgt.
    So the moral of this story is folks..if you smell it's a scam from the start..DON'T LEAD THEM ON pretending you
    may be interested. They will continue to bother you with all kinds of nuisance phone calls.
    JUST HANG UP IMMEDIATELY ON THEM.
    Last edited by carverman; 2014-09-28 at 07:23 AM.

  10. #20
    Senior Member Beaver101's Avatar
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    Quote Originally Posted by carverman View Post
    This story falls under the title: There IS NO FREE LUNCH!..people.

    So the moral of this story is folks..if you smell it's a scam from the start..DON'T LEAD THEM ON pretending you
    may be interested. They will continue to bother you with all kinds of nuisance phone calls.
    JUST HANG UP IMMEDIATELY ON THEM.
    ... +101%!
    Everyone should be respected as an individual, but no one idolized.-A. Einstein

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