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Gold Scams

Gold Scams come in many forms but in the end the goal of the scammer is to part you from your cash either by coning you into paying some kind of upfront fee, or switching the gold for zink, brass or some other metal other than gold.

Many of the gold scams circulating originate from Africa. Numerous criminal perpetrators assert to be mine owners  and have mining operations in nations like South Africa and Ghana, Africa’s top producers of gold. Scammers guarantee to be offering gold via legal businesses or mining companies often offering large orders of gold at big discounts. Gold sellers and mints the world over are also being tricked, as they search out brand new gold suppliers. Vast sums of monies are lost to the con men that runs these sophisticated gold scam syndicates. The recent popularity of gold and restricted supply is forcing long time gold merchants to make associations with new suppliers and contacts, a large portion of which are fake.

These fake businesses guarantee to be enrolled with firms such as the  Precious Mineral Marketing Company (PMMC) in Ghana in order to gain the confidence of potential investors which inevitably become victims. These companies will even go to the trouble to put up fake websites that seem, by all accounts, to be real. A closer examination regularly uncovers quite experienced scammers in Ghana, who are manned with with top level information of the gold industry. Many of these scammers even obtain government contracts and fake official looking documentation to look legitimate, and others claim to work under parent companies  in other African nations and North America.

Gold Scams fall into several categories

Gold Scams can be categorized into several groups. Every one of these gold scams have been created and refined over time. The fact that the scam seems obvious to some but still fool others may lie in the fact that gold has a tendency to make one nervous, giddy, or even sweat from the idea of obtaining gold. One could even say that people lose complete sensibility in the presence of gold.

 Gold Scams broken down

Here are the the major methods associated with gold scams.

1) Advance Fee – Pay Export Tax

Pay the Export Tax and we will ship gold to you anywhere in the world is a twist on the Advanced Fee Scam. These type of gold scams center around a “financier” that will supposedly pay the seller for the gold as long as you pay the export tax. Gold guaranteed to be delivered CIF  via MT799 is how this gold scam usually starts. [MORE]

2) Fake Gold Bars – Metric Tonnes of Gold for sale

This scam is one that anyone sensible would not believe yet various email messages circle on the Web for purchasers (buyers) or venders (sellers) of way up to 10,000 metric tonnes of gold. The shipments often arrive as gold painted lead. [MORE]

3) Partial Delivery

This is a popular gold scam. This scam starts out with a payment to the seller. The seller with then provide a portion of the gold. [MORE]

4) Royal Family Auction

This gold scam is a tale that a royal family of some location, often Nigeria, has gold that they are auctioning off because the king or queen has died. [MORE]

5) Salting – Fake Gold Mines

As One of the oldest gold scams, this one comes in several varieties. From seeded mining ares that have been peppered with gold from other areas far away, to fake reports. [MORE]

6) Swiss Procedure

This scam is typically associated with the request for Gold Bullion. The “Swiss Procedures” are all designed to allow for fraud and scams. [MORE]

 

If you have been scammed and have a story to share, please contact us.

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5 Responses to Gold Scams Home

  1. Merla Rimpel says:

    I was introduced by a seller name Hassan Abdulkarim through Noel Megumichan who is the owner of this website http://www.pbase.com/noelmegumichan/gold_dust_show, Noel have convinced me not to fear this seller that he was good and a member of the minister of Land mind. I have taken Noel advice went with Hassan and next time I know he scammed me out of $2900.00 along with a so call representative named Harrison supposedly a diplomat that was supposed to deliver the gold bar to me 3 months ago. Mr. Harrison the diplomat kept asking me to send money through Western union more than 3 times telling me if I don’t send it New York Custom will not release the gold to him, everyone convinced me including Noel the gold was in the US and Hassan and Harrison kept asking me to borough money from my friends to make that happen…the day after Harrison supposedly coming to deliver the gold, after I paid all that money he texted me to say that his daughter got into a car accident to send him money right away, than the next day never hear back from him I got a text from Hassan to say he just got a text from Harrison that his daughter had passed away. I never see any gold, Hassan and Noel ignore all my emails and I owe a lot of people. Just to let everyone know this website Noel is advertising is full of scammers they all asking you for money and never send you any gold. I personally think the entire African country is corrupted…Save your money people do not do business with any sellers in Africa. If you find a seller that is real…it will be a miracle……but as for me I will never send any advance fees in Africa. God have the last word those who use his name in vain will pay an expensive price…….

  2. Mark says:

    Unfortunately most Africa has degenerated into the cesspit of the business world with government, police and customs becoming the biggest crime organisations of the world and 99% of ALL the sellers being nothing other than violent con artists with absolutely no conscience or thought to the future of their country or the African continent.

    Between my partners and I we have spent enormous amounts of wasted money traveling to and investigating possibilities of gold for sale throughout Africa and have now reached the stage where if any seller had to offer us gold on open consignment, which we simply have to collect and then pay for AFTER refining, we would definitely NOT risk the journey to the country to collect it!

    From the local embassies or high commissions where one first applies for a visa to travel into that country right through to the reception clerks at the hotels and taxi drivers there exists a vast interconnected mafia that communicate and coordinate the scams, robbing, mugging, and point of gun assualts and shootings that you risk when you venture into the country of origin.

    Amongst us, within the year of 2012 alone, we have had seven people falsely arrested, five assaulted and put in hospital, two shot, four framed with cocaine planting and arrest!
    We have wasted over $385,000 in travel and accomodation costs and lost in excess of $500,000 in scams, theft and government authority bribes!

    we have successfully traded less than ONE KILOGRAM of gold!!!!!!!

    Right here in South Africa I can trade up to 650kg per month! ABSOLUTELY safely, legally and WITHOUT ANY risk what so ever making my financial backers a guaranteed return of around 50% per annum totally risk free!

    I represent several different local refineries and YES I DO have MY terms and procedures in order to conduct SAFE and risk free legitimate business and if any seller in Africa wants to do solid, regular and fairly priced trade in gold, as MANY do, they adhere to OUR procedures.

    Africa will continue to catch fools who think they can venture in and get rich over night on the “one big deal” and just like there are just enough Lotto winners to continually inspire and motivate people to buy Lotto tickets, there also do exist one or two very very fortunate individuals who have ventured in and made some money, but just as there are thousands who buy a losing lotto ticket, there are also literally thousands of greedy gold buyers keeping the airlines and african hotels in business and pouring their money into the African cesspit and return home having been raped mentally, physically, emotionally and financially!!

    So, for example, although Mali is awash with gold stocks, they can either bring the gold right here to my refinery on my terms for the best deal they can make……….or take it and pave the streets and sewers of Mali with it for all I care but we will NEVER allow ANY seller to dictate terms and procedures to us EVER again.

    The very very very sad truth is that Africa’s starving masses will continue to starve and choke upon their enormous wealth in commodities until the organised crime and government corruption is stopped in it’s tracks and I personally don’t see that happening in this life time or the next!

    Another sad fact is that many foreigners venture in, thinking they are stepping into the ring to fight according to “Queensbury rules” when in fact the adversary (gold sellers) they get into the boxing ring with, are ready, willing and able to kick the foreigner in the balls, gouge him in the eyes and bite his ears off! and they will do exactly that and far far worse!

    So please forgive me , my name is not Piet Retief or Gerrit Maritz ( the gentlemen who Pietermaritzburg in South Africa was named after) we CAN do very good business but it will be MY WAY ( the BUYER’S WAY) or ABSOLUTELY NO WAY!

  3. Here you can see an incredible Gold ghana scam still not solved…

    Any help will be greatly preciated

    Gold scam in ghana

    Reward 20.000$

  4. Jerry says:

    Ghanaians in New Jersey Gold Scam:
    There is an increased quest to legitimize the Ghanaian gold fraud by posting proposals for USA gold buyers to meet the Ghanaian gold suppliers in the state of New Jersey or New York. This scam is deisgned to thrive on the USA affluence. These scammers have found a way to deposit copper, zinc, Tungsten and other metals with related properties of alluvial gold. The aim is to have the buyer drop his guard, buy the first supply,often of small weights, that is usually the only true gold: after that the scammers will turn on the pressure for advance payments “to enable the delivery of outrageously high quantities”. Once any more monies are advanced, the scammers will be homeward bound to Ghana. Please do not yield to their demands with location, it’s either yours or none.

  5. Jerry if you can write any company names in USA that is offering discounted gold, it will help us a lot to identify the scammers.
    Seacrest Trading is the one is doing the job to bring USA investor to Ghana offering cheap gold investment. Its a fraud.

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