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Is this a scam?

by Larry
(Richmond, VA USA)




I think someone may be trying to scam me, so I need some advice.

Someone I met online claims to have traveled to South Africa to collect an inheritance. They claim that their inheritance is only in shares and stocks, and that they cannot sell them online. They must pay a stockbroker upfront, even though they claim that their stocks are worth $800,000. They say that the stockbroker will not help in any way until they come up with $2,000 to pay in advance. They also claim that these stocks can only be sold in South Africa.

Does any of this sound legitimate?

Thank you in advance for your time and advice!




Comments for
Is this a scam?

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Oct 14, 2010
Stocks Simplified Writes
by: Shaun

None of that sounds legitimate to me. Winning an inheritance from some place in Africa seems like it is a big scam artist line. (I’ve supposedly inherited a lot of money from many different people in different African countries).

Plus I doubt it would cost $2,000 to sell the stock. Most brokers will have a limit on how much they charge per transaction; even if it was an expensive broker that still seems way too high to make any sense.

If your still unsure Google it, there are blogs that write about these type of scams.

Oct 14, 2010
Is this a scam?
by: Larry

Actually this person claims that the stockbrokers fee is $20,000. They need 10% upfront before the stockbroker will begin working for them.
This person also claims that they have been living in Richmond, VA for the past 16 years.
I'm fairly convinced that this is indeed a scam, just trying to confirm it.

Oct 14, 2010
Stocks Simplified Writes
by: Shaun

Yeah my stock broker has an option for a low flat rate of $7.50. So, even if I sell $800,000 worth of a given stock it would only cost me $7.50.

I know there are expensive full servce brokers out there but even if they had one of those I can't see it costing any more then $200 at most.

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