Virtual Stocks Scams

From: angel98@AN-EGIFT.COM




Two years ago, I joined an online virtual stock game called "Stock
Generation" They said on their webpage that, if you were to send them money,
(for whatever amount)the money would grow at a rate of at least 10% a month.
Well, that sounded good to me. Of course, I was a little skeptical (and my
husband was very skeptical.) So we only put in $40.00 to start. The company
credited my account for the $40.00 and gave me $50.00 to answer a few
questions. It was looking pretty good. The money I sent in had more than
doubled.

The company was located in Dominica. I did a search to find any
information I could on the company, but came up empty handed. I came across
several forums that the company posted on their website and there were both
good and bad spoken about the company. Players would say they were slow to
pay etc. Some said "we got our payment extremely quickly." I played for a
few months and then withdrew my $40.00. At this point, I was very surprised
to receive my money back, but lo and behold, I did. There it was in my hand.
I held onto it and thought to myself "ok, lets play this smartly. Lets use
the money that I had in the account (the survey $50.00)and see what
happens." I thought I was so smart. Well to my amazement, each and every
month, the money increased. I had nothing to lose. It was their money. They
also had two other "virtual stocks" that were available, both of which were
higher risk companies and 8 others that were even higher risks. I thought,
great, lets really play the game now. I had watched my money increase for
over a year and a half. Every month, like clockwork. Then I switched my
money into the higher risk company. I was sitting pretty now. I had over
$4,000.00 in my account. That's when we decided to play with more money. So,
we went to the bank and took out another $100.00 and sent it to them. This
time, the money took much longer to credit to the account. In fact, it took
three months. Finally it credited too. Ok, now my stock was growing in leaps
and bounds. $6,000.00, $7,000.00, $8,000.00 in my account..again back to the
bank and another $40.00 sent to them. After crediting the last $40.00 to my
account, another $10.00 was sent. Higher and higher the account climbed.
$10,000.00 in my account. I was looking at a house for my family. I thought
to myself, I would wait until the stock climbed to $35,000.00 and keep
depositing money into the account. It would be our first house. That's when
my hopes were shot down. My dreams shattered into a million pieces. My
family's home was gone.

The company did what they called an "r13" to everyone. They transferred the
higher risk stock into the lower paying stock company. This left us with
only $416.73 How did it drop? The lower paying stock climbed much slower, so
naturally didn't make as much money. It only increased 10% a month. But when
they "r13" you, they act as if you never bought the stock from the higher
paying company. The stock dropped drastically. Then it became difficult at
best to get into the site. Finally after multiple weeks of trying to get
into the site, we were able to. The company explained that they were
updating their database. Seems everyone was having problems with the site
admittance, not just me. Then they split the stocks 10,000 to 1. What this
means is if you owned 10,000 shares of the company, you now owned 1 share of
the company. They said it was because the players didn't like the mass
"r13" and many were angry and pulling their money out. We too tried to pull
our money out and all of a sudden, wham. The money in our account was gone.
We don't mean it deteriorated, or sent to us, we mean gone. The account was
emptied. Not only ours, but everyone else's too. This site still exists.
There are thousands who have lost their money. Billions of dollars lost
every day. We have looked online now closer for a scam like this and found
out through the USA archives that the scam is one of the largest in the
world, but not widely known.

The game is simple. Someone tells you about a site that will give you money
for depositing some money. You do so and they show you an account, where
your money increases monthly. Forums are filled with people from their site.
Everyone talks good and bad about the site. The ones who work for the site
tell you the good and the real players tell you the truth. The company may
even "make" you say good things about it, by inticing you or something bad
might happen to the hopes of your money growing. It's very easy. If someone
tells you that you can make money doing something for nothing. Don't you
believe it. It simply isn't true. By the way the site is set up so that you
send your money to Dominica, Roseau. The checks that go to them, have
written on the backs -- SOUTHTRUST BANK, N.A. WINTERPARK, FL. They take
credit cards, they take money orders and they take cash and checks. Then the
credit card payments stop. They won't accept credit cards anymore. They may
take e-gold, or paypal. The game is not legal, although they may show you
gaming licenses. It is a pyramid. If you think you will get out in time,
think again my friends..many tried to. Thousands tried to. A little money
may be paid to some players to keep them interested, Nothing more. But
eventually the withdrawals stop all together. The accounts are emptied out
and the gutted site remains, drawing in unsuspecting people. They may even
get you to recruit for them, giving you referral fees for your efforts. You
never see the money in your hands though. They run the sites out of another
country usually or a false address is given, with a P.O. box for a payment
area. They even provide a phone number to call. Many times you speak to them
on the phone and then all phone calls stop. You end up ashamed, saddened,
and with your hopes and dreams shattered. Your reputation is damaged, as you
have referred all your friends and family. There is very little you can do
to stop them. They go to jail, for fraud eventually. Your money never goes
back to you though, as it gets caught up in the legal system. Some don't
even make it to jail. Most people keep dreaming and redepositing into the
game, hoping that it's just a fluke and they will give you back your money.
Only to find out that money is gone too. Then the people end up looking for
another game to play. Another one that will fill that empty void. Another
one that will bring back that feeling of your dreams, when they weren't
shattered. There has to be a game like this that is real, you think to
yourself. It isn't real. These games are not legal. So they can't be real.
USA Today said in their article, that the FBI was investigating Stock
Generation. That was back in November 99. Stock Generation still stands
today. Many more will follow. I hope this story tells you what reality is
though and you stay far away from games such as this. They won't bring you
your dreams, they will shatter them. Thousands upon thousands, lost billions
of dollars in this game. I only lost a little. Friends I know though, have
lost $10,000.00 and more. It's not a game. It's a very good scam that feeds
off people who hope. The rules change constantly. You aren't permitted to
withdraw your money except in the beginning. If you think you are going to
win the game, think again my friends. They make sure everyone loses. When
it's time to start all over with a new batch of people, your money
disappears. More people with more money. Please learn from my mistake and
others like me. Don't play. Run in the other direction, if you see this game
or one similar to it.

Thanks for listening. Angel