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Nigerian Scam Nets Dr. Gottschalk

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posted on Mar, 3 2006 @ 01:51 PM
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Most people with e-mail know about the Nigerian scam, where you get this message saying if you will put up a bit of front money, you will receive a big chunk of money stuck in an African account that belongs to the poor disenfranchised citizen who sent the message. Apparently, Dr. Louis A. Gottschalk isn't most people, and it cost him something like $3 million. Now his son, Guy Gottschalk, is trying to get named conservator for his father to protect the families wealth from any more such scams. The good Dr. says he made some poor decisions, but the rest is just a ploy to take away his control over his own finances.
 



www.comcast.net
SANTA ANA, Calif. - A renowned psychiatrist lost up to $3 million over 10 years to a Nigerian Internet scam, his son alleges in a lawsuit.

Dr. Louis A. Gottschalk, an 89-year-old neuroscientist who works at the University of California, Irvine medical plaza that bears his name, acknowledged losing $900,000 to "some bad investments," according to court papers.

Louis Gottschalk gained prominence in 1987 by claiming that his studies of President Reagan's speech patterns showed Reagan had been suffering from diminished mental ability as early as 1980.



Please visit the link provided for the complete story.


I didn't think anybody fell for the old Nigerian scam anymore. For $3 million, too. Wow. Maybe he does need someone to look after his money for him. I'm not sure I would choose his son, though, just in case the old apple doesn't fall far enough from the tree, you know what I mean?

[edit on 3-3-2006 by Icarus Rising]




posted on Mar, 3 2006 @ 02:36 PM
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I'm sure that the son has his father's best intentions at heart when he asked for conservatorship. And 89 is a bit old to be making big money decisions, imo.

That aside however, I'm sure the son is looking down the road to the reading of the will, and doesn't want to be left with only dad's favorite pen as an inheritance. Nothing wrong with that, it's just being honest.

But then again, if you spend your lifetime working at amassing a small fortune, you should be able to spend it as you choose.

That scam should have been shut down the day it started, imo.



posted on Mar, 3 2006 @ 03:35 PM
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I'm trusting and gullible to a certain extent, but I never thought twice about responding to one of those e-mails. Not that I had the front money to begin with.

[edit on 3-3-2006 by Icarus Rising]



posted on Mar, 3 2006 @ 03:48 PM
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Just goes to show us, sometimes the smartest among us are also the most foolish.

I hope his son is actually looking out for his wellbeing, and not just trying to make a quick buck. I've witnessed the infighting and petty bickering that goes on amongst greedy, shallow children trying to take for themselves their parents wealth.

It's my opinion that there are better things to do with money than give it to children who don't appreciate it and haven't earned it.

Of course I'm not speaking about this case in particular, just in general. Hope everything works out for the best. Can't feel too bad about the old man getting scammed though. A fool and his money are soon parted, right?



posted on Mar, 3 2006 @ 03:53 PM
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Here's another Nigerian scam that's going on in the world of Hot Rods and Classic cars.

Guy wins a bid on Ebay for the car you're selling.
One of the requirements for the buyer is a deposit, say for $2000.

The scam buyer sends a Cashiers Check for $7500., informs you to deposit the $7500. in your bank and forward a check to his "agent" for $5500. for shipping etc.
Along with other instructions on when the balance of the money will be there or when the car will be picked up.

Eventually the fake Cashiers Check is discovered, but by that time the hapless seller is out the full $7500.

Amounts vary, but the thing to watch out for is there's a lot of counterfeit Cashiers Checks and Money Orders out there.

Even if your bank approves the Cashiers Check on the day of deposit and it bounces a couple of weeks down the line, you're responsible for the full $7500.
Or whatever the figure happens to be.

My bank tells me the only safe way to handle a large transaction is via wire.
Make a point to discuss a big transaction with the bank - whether the buyer is within the US or from Overseas - as to the safest way to do it.

A somewhat new Ebay scam is if you bid on something, the auction closes and if you're the 2nd highest bidder, you'll get an email stating the top bidder backed out and the item is yours if you'll just forward some money to the emailer who is not the original Ebay seller.
All of which indicates Ebay records and info have been hacked.

There are some serious scams out there and Ebay seems to be trying to control them, but in the end it's up to you to decide if you want to take part in buying stuff off Ebay or not....



posted on Mar, 4 2006 @ 04:53 AM
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Originally posted by WyrdeOne
It's my opinion that there are better things to do with money than give it to children who don't appreciate it and haven't earned it.

Of course I'm not speaking about this case in particular, just in general. Hope everything works out for the best. Can't feel too bad about the old man getting scammed though. A fool and his money are soon parted, right?

The elderly are often targeted by scam artists, and many times they are the ones who can afford it least. They are easy targets because they want to trust people, and/or supplement their income by investing their oftentimes meager savings.

Desert Dawg, the cashiers check scam you mention is pretty common these days. Funny how it preys upon people's honesty to succeed. Otherwise, what's to keep someone from keeping the entire amount?



posted on Mar, 4 2006 @ 05:18 AM
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It's a pity the good Dr. hadn't heard of Father Hector Bennet and www.419eater.com...


Striking resemblance to David Hyde Pearce from Frasier, no?

These people actually scam the scammers. Here's a morsel from the exchange between Father Hector and "Prince Joe Eboh":


From: Father Hector Barnett
To: Prince Joe Eboh

Dear brother Joe,

God bless you my little mucker and how are you this glorious day?

My apologies for the late reply but we had a small accident at the church this morning. I am afraid we have had an infestation of Tribbles, and we called in the Pest Patrol people to try to remove the infestation. Unfortunately Ted, the pest patrol guy, decided to gas the Tribbles, and in the front yard of the church he got himself into his Chemical Protection Suit (CPS). . .


Tribbles,



posted on Mar, 4 2006 @ 09:36 AM
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Striking resemblance to David Hyde Pearce from Frasier, no?


He's the spit of David Hyde. I got those emails every week and it got so annoying that I replied to him basically saying that I am not buying into his scam, he replied and said "this is no scam". Wzhat else does he want us to believe?



posted on Mar, 4 2006 @ 09:54 AM
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a guy I work with has a client who has fallen for one of those nigerian scams. he has actually met with some of the people and he was convinced he'd get some money from them. still is I think.

I have a client who emailed me about a deal that seemed too good to be true. I got the details from him and while he was telling me about it I googled the man he was dealing with. first hit? the guy's arrest record. Known scammer. I emailed my client ten or so links to information regarding this man and his various scams. (the guy asked my client to wire him $1000 for travel expenses after he promised my client $20,000,000 would be deposited into his account in 3 months and he was still willing to deal with him). Last I heard, my client opened up a joint account with the guy and there was money put in by the scammer. I'm guessing the client will not come back this year out of humiliation.

people are dying to make a quick buck. much like the need for fame, there's an even greater belief that money solves everything (most things, not everything) and the only way to get it is in a quick scheme.,

the old belief system of working hard and earning your position is life is long gone.



posted on Mar, 4 2006 @ 12:04 PM
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The mother of all these scams was perpetrated on US by our own government in the form of the Savings & Loan deregulation put through by the Reagan Administration. Many older folks who trusted their life savings to Savings & Loans like Silverado (remember Neil Bush?) got fleeced when the S&L's made speculative real estate loans that fell through and then went bankrupt. Everybody got paid and the older folks got pennies on the dollar for their life savings. It was a massive redistribution of wealth in this country, and hardly anybody seemed to notice. Charles Keating from Lincoln S&L was the only one that did time on that deal, but I think old Neil got barred from holding political office in Colorado for it. George W and Jeb picked up the torch and ran with it from there.




The biggest problem, though, was more fundamental. When S&Ls tried to compete for funds by offering relatively high rates or - after deposit interest rate ceilings were eliminated between 1980 and 1982 - by offering interest rates in line with or above market rates, an unsustainable gap opened up between the cost of their funding liabilities (short-term interest rates) and the income generated by their assets (long-term, fixed-rate mortgage repayments).


US Savings & Loan Crisis

Keating Five



05/11/03: (Information Clearing House) The savings and loans crashes of the 1980s, themselves directly the result of Reagan’s deregulation of the banking industry, is more interesting because of how it reflects the rapacious nature of unbridled capitalism than of Neil Bush himself. Who by the way, is now embroiled in another scam with his latest venture, educational software, Ignite (turnover $20 million, much of it from educational subsidies obtained in the state of Florida ,where, ‘coincidentally’ of course, his bro Jeb, is governor).


The Silverado Savings and Loan Scandal

O, Brother! Where Art Thou?



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