Nigerian Prince Scam Traced Back to Louisiana
According to The Huffington Post a Nigerian Prince scheme has been traced back to a Louisiana town. Scams such as these typically include asking people from around the world to help move “royal funds” out of the country — in this case, Nigeria. The scam asks for a fee upfront which is to pay for the “processing fees”. Upon paying the fees, victims believe they will receive a portion of the royal funds. When in reality, the scammers just want the money the victims have sent and vanish.
Michael Neu of Slidell, Louisiana has been arrested for 229 counts of money laundering and wire fraud. Neu was allegedly sending a portion of the stolen funds to his new “recruits” in Nigeria.
Avoiding These Scams
Often times these scams are found online and over the phone. As I am writing this, I got a phone call from a phone provider claiming my “account” was selected for a gift card valued at — well I don’t know, because I hung up. Often times, if something is too good to be true, it is. Hang up. Close the pop-up ad. Delete the email. Whatever you need to do.
One of the biggest red flags is when these “companies” ask for your financial information before you render any kind of service. For example, in order to receive a gift card, they just need you to pay for “shipping”. But by doing so you’re giving them your credit card number, security code, and expiration date. Or worse, you’re giving them your routing number and account number. It may seem like a small price to pay for such a great “prize”, but it’s important people understand just how much information they’re providing to these “companies” they know nothing about.
Be incredibly cautious! You work hard for your money — don’t just hand it over to the next “Nigerian Prince”.