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ScamU: Beware of the Takeaway Pitch

Posted by Jerry De Luca on Wednesday, July 11, 2012



The scammer knows what the potential investor is thinking. He knows even the most na├»ve investor is worried about being ripped off. He tells the investor: “You can’t be too careful. I’ve been in this business a long time, and I’ve seen plenty of Bernie Madoffs. You have to do your homework.” Most investors will conclude someone who is running a scam wouldn’t possibly warn you about scams.

Following the deceitful warning is usually the limited time offer. The window to the opportunity closes this Friday. If the investor keeps pestering with questions, the scammer will politely move on, saying he has to devote what little time is left to those ready to sign up. Meanwhile, all the tempting, enticing selling points he made as to why this particular investment is fool-proof and will bring a great return, will be pondered constantly in the investor’s mind.

Nobody likes to miss out on a great opportunity, and if the eager investor calls back, he will only get voicemail or the secretary can only take a message. Two days later the scammer will call back and deliver the takeaway pitch. The number of investors has reached its limit. The investment is closed.

The scammer tells the investor these opportunities are rare, and one has to act quickly when the window opens. The scammer knows the investor may have the sinking feeling he has just missed out on an excellent opportunity. The next day, the scammer will call back. Someone has dropped out at the last minute and there is room for one more….. 

Pat Huddleston, The Vigilant Investor, American Management Association Publishers, 2012

Photo: slayyou (flickr)     
    

Jerry De Luca is a Christian freelance writer who loves perusing dozens of interesting and informative publications. When he finds any useful info he summarizes it, taking the main points, and creates a (hopefully) helpful blog post.