Does the above sound implausible?
It does to me too. As a matter of fact, I wouldn’t do the above deal with $100. However, some very smart people bought it, and got stiffed. The guy pulling this off, with his crew, including his son, were finally brought to justice.
You can read about the case here.
I was on the jury. We deliberated after 6 days of testimony and no defense witnesses. We effectively got a PhD in the power of rhetoric and the weaknesses in human psychology. There were some very, very smart people who bought not only the above pitch, but “give me $28,000, and I’ll send you back double in 2 weeks.”
Then, for the next few months, got in return via WhatsApp:
I’ll contact you tomorrow at 4.
The seller is having a problem.
We are going to work well together.
The buyer’s son is in the hospital, as soon as he gets out in 4 days I’ll get you the info.
Working on it now.
I’m with a client, call you in 3 hrs.
I’ll have the new wiring instructions on Tues.
Send me your wiring instruction.
The BTC is on the way.
There was a problem with the account.
On and on, smart, well schooled people went for it. I eventually dedicated a page to writing the excuses made as to why their money hadn’t been returned. The above is a shortened list from memory.
Only because 3 of the victims had money and went after these guys legally was there even a case. Notice, it doesn’t say ‘lend me the money’, it says GIVE me the money. And they did. 8 years later, the verdict came down.
Give me $10 Million and I Promise I'll Repay You Later