Readers reviews of Scams and Swindlers
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This is a self serving book good at shutting the gate after the horse has bolted.
Published by the ASIC, it tells in one instance how investors could have known before hand
that Bond was not doing the right thing. Its strange, given all these obvious warning
signs, that the ASIC did not see these signs themselves at the time and move to more
thoroughly protect investors. The same retrospective perfection applies to the case study
of Western Women.
Despite this, the book is a useful guide to some of the more common forms of scams.
Essentially, if someone asks for your money without giving you full details of the
investment aims and objectives in writing, then the proposal is very risky, and possibly
fraudulent. When you lose your money in a scheme like this, the ASIC may be able to help
you get some moral satisfaction, but very rarely, any repayment.
The book is better at explaining why Skase is still in Spain than it is at preventing
these simple scams and swindles before they cost people cash.
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