Re: I agree with the judge
chapAnjou
3/29/2012 10:49:52 PM
@Noreen, that is just so crazy to me. It's like the settlement was made to set a precedent that will inspire future scammers to realize they can get away with anything.
At the very least the legal fees should be paid out of the pocket of the individual with no way to use money that was gained from their fraudulent business practices. I wonder how many more people would follow in the footsteps of the scammers if caught scammers were losing their homes left and right.
"What the settlement practice says to the public is that you are allowed to get away with scams with impunity. Even in the unlikely event you are nailed, it's petty cash expenditure, cleaning up the mess."
Completely Agree with you on this. There's too much leniency when scammers are caught. It sets a bad example and makes scammers go into any particular deal with knowledge of "what's the worst case scenario if we get caught?".
Well, look at that. Marvin wrote something, and we all seem to agree with it.
Re: I agree with the judge
Phoenix
3/27/2012 11:52:09 AM
At least some judges are taking note of all this. There has to be some good regulations in place so that people are given suitable punishments for scamming. This would discourage potential scammers. It's always best to get the word acoross in an unforgettable manner. Prevention is better than trying to find cures once the deed is done.
Re: I agree with the judge
AskAsa
3/27/2012 11:35:01 AM
I agree with the judge as well.
Experienced scammers know you can steal far more with a briefcase than you every could with a gun.
If caught, the fines are laughable.
Maybe this will finally put some sense into the picture.
Re: I agree with the judge
Tenacious
3/27/2012 11:28:22 AM
Is the FTC crazy for even considering such a settlement or what?
Yes!!!
The Latin on the Dollar Bill
Ted Faraone
3/26/2012 9:05:46 PM
Fabulous column, Marvin. I once placed a "for sale" advertisment on a website for interesting cars. The car was certainly a curiosity. Only a few thousand were ever made.
Wouldn't you know that most of the offers I got were scams?
Now, my way of dealing with it is the Latin motto, which should be on our Dollar Bill in place of E Pluribus Unum, "Illigimate non carborundum." Failing that I'd settle for the motto of Charlie McCarthy, "E Pluribus Mowem Downus."
Thanks should go out too, to whomever appointed her to the court.
I'm not clear whether scammers are subject to criminal penalties for their actions or civil penalties...or both. Does anyone know? I have a feeling that there are so many pleas because the regulators are woefully understaffed...just like the SEC!
Re: I agree with the judge
driven
3/26/2012 11:03:04 AM
The bigger the mistake, the easier it often appears to get off without jail time. Or even much of a fine.
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