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Crooks Steal $140 Million – Your Defense Against Stock Scams

Retirement saving dangers

Being aware and do homework are the best defenses against scams.

Defense Against Stock Scams

Crooks steal $140 million – your defense against stock scams. This story made headlines in August, 2013. It is worth recalling as a reminder that our own awareness and homework give the best defense against scams.

This post begins the White Top View Series, Scam Defence. Part 2: 4 Tips To Check For Stock Scams follows as our next post. 

Stock scamming crooks duped investors out of $140,000,000! Four Canadian sleazebags assisted by five American stock crooks, scammed hundreds of victims in 35 countries. Authorities captured all the crooks.

This widely reported news of financial devastation reminds us to talk about scams. Or more importantly, how to defend against a stock scam. We can discuss a few facts and guidelines to keep your money working for you and out of the hands of some crook.

Your top scam protectors

  1. Common sense and intelligence

  2. Having a defensive attitude

  3. Having greed control

  4. Informing and educating yourself

The best scam protection you have sits between your ears. Your common sense, intelligence and a defensive attitude will keep you and your money safe. A big enemy of your money is your greed gland. We have to acknowledge that it exists in everyone, yes, even you. Be realistic; we must keep our greed under control.

Combined with a little knowledge these scam protectors will help you avoid a fraud that can devastate savings from your hard work and sacrifice.

Scam News Helps Us Learn

When you hear of a scam think how you would avoid it. Try to learn something that will benefit you from each scam. Learning about scams helps you grow to become a more sophisticated investor.

Below are the company names from this latest big scam. Before the websites went down they served as excellent examples of well done scam sites. They were the real crooked deal! Crooks had created those websites for one purpose. To steal your money!

They were very convincing and well done websites. Some had excellent investor presentations and certainly looked like the websites of real operating companies. The sales pitches were very well done. They intended to give their prospective victims, people like you and me, a very positive impression. These guys are very good at this stuff!

12 Scam Companies Named By The US Federal Indictment


  1. Blackout Media Corp.

  2. Foy Johnston Inc.

  3. Imusic Worldwide Inc.

  4. Liquid Gold International

  5. MASS Petroleum

  6. Nikron Technologies Inc.

  1. RainEarth Inc.

  2. Resource Group Intl

  3. Sync2 Networks Corp.

  4. Tal-Cap Inc.

  5. Talisman Hlds Inc.

  6. WGI Holdings Inc.

Authorities call these companies “file cabinet businesses” as there were minimal assets, the stocks were thinly traded and owned or controlled by the accused. The elaborate scheme created phony consulting businesses and even phony law firms. They issued many fake press releases. They reached around the world from centers in Vietnam, Thailand and Canada.

Awareness and homework provide the best defense against stock scams

Awareness and homework give the best defense against stock scams

The big tip-off

From the websites of these scam companies you can learn that they trade or did trade, on the Over the Counter or OTC Market or Bulletin Board or Pink Sheet Markets. By whatever name, we covered that house of ill repute in the blog post available at this link: Sorting American OTC Stock Markets.

You will recall that we agreed beginners just should not go there. So just don’t go there. Any stock trading there is not worth your attention. Use that as your big easy tip-off. Any company trading OTC is of no interest. Ever. Check no further, just say no and keep investing in real companies listed on secure stock markets.

Next time we will discuss how the scammers use social media. You also learn a simple and straightforward way to check them out sales reps. That lets you quickly find and avoid scammers letting you invest with confidence.

Spread the knowledge!

Please share this blog with 3 people including your family and friends. Subscribe (free) to receive White Top View in your inbox. Your comments and questions are welcome here. The bite sized White Top Investor lessons help demystify investing and give you a better understanding of markets. By becoming more knowledgeable you can become a confident investor, one small step at a time. The White Top Views email list will never be shared or sold.

Have a prosperous day!


White Top Investor
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These discussions and information intend to help you better understand markets and investing. I am not a financial or investment advisor; opinions are for informational and educational purposes only and are not intended as investment advice. For syndication of the site or blog, please contact

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Links to the White Top View Series, Scam Defence

Part 1: Crooks steal $140 million – your defense against stock scams

Part 2: 4 Tips To Check For Stock Scams

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One Response to Crooks Steal $140 Million – Your Defense Against Stock Scams

  1. Bryan Kelly July 25, 2014 at 6:30 am #

    You are welcome Jesse!

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