Topic Wiki

https://www.dansdeals.com/more/dans-commentary/dark-side-earning-credit-card-points-psa-dont-swipe-others/

https://www.mixcloud.com/zev-brenner/talkline-with-zev-brenner-on-credit-card-scams-affecting-the-orthodox-jewish-community/

http://podcast.headlinesbook.com/e/31616-credit-card-miles-and-points-swiping-for-rewards-buying-and-selling-miles-is-it-assur-and-a-chillul-hashem-or-a-great-way-for-a-side-parnassah/



BEFORE SWIPING FOR SOMEONE READ THIS: (first hand story)

https://forums.dansdeals.com/index.php?topic=36812.msg2062371#msg2062371
https://www.dansdeals.com/more/dans-commentary/dark-side-earning-credit-card-points-psa-dont-swipe-others/#comment-1399884


Dan's warning to DDF:
I hope people realize that any buying group or anyone else that gets merchandise in advance of payment can go south at any time. That's even if you get a check at the time of delivery.
X-posting as I don't want anyone to say that I never put a warning here.

A story that ended up in court - https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=iRcRHuyZUdOIx69D00a5XQ==&display=all&courtType=Kings%20County%20Supreme%20Court&resultsPageNum=1


I am one of the biggest buyers for buying groups, I have done millions in transactions and have sent to every group there is over the past 3 years. Most buying groups are okay, some scan in slower than others, some pay slower than others - most will lose a few packages over the year. You can research and find which are better for you.

However there is a bigger problem now with Amazon itself.  Amazon in the past has been great with any problems always ready with a refund for lost packages even if it was thousands of dollars. Lately Amazon has clamped down and has tagged these buying groups addresses  in their systems as "freight forwarder" and now no longer will fix any problem you have whatsoever. Doesn't matter what the problem is, even if it shows the package was never delivered, amazon will not help you in any way. Their copy and paste response will always be "this item was sent to a freight forwarder and we're unable to replace or refund the item. We recommend contacting your freight forwarder for more details, as we don't have any more insight or information regarding this matter, For more information about sending items via freight forwarders, please visit our Help Pages: https://www.amazon.com/gp/help/customer/display.html?nodeId=201117950." As well the amazon drivers either must know this or have been increasingly bad at delivering packages because the numbers of packages missing has gone up astronomically. Previously you would have very few packages missing, now the past 3 months I have had 59 "lost" packages. I now have over $15,000 of loses and some guy in Delaware is probably living the life with all the stuff he stole from me. I will survive, I have made a lot more than $15,000 over the years however just a warning to others here that things are not as they used to be and it really is no longer worth doing buring groups with all the loses piling up

« Last edited by Yo ssi on July 24, 2023, 06:47:26 PM »

Author Topic: PSA: Don't swipe recklessly for others  (Read 1182566 times)

Offline Chief Rabbi of New York

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Re: PSA: Don't swipe recklessly for others
« Reply #2120 on: February 17, 2019, 06:33:13 PM »
unless they have a printing press or win the lottery,
They ain't got the money to pay back,
The money is gone,
Cc were being charged to pay other cc's

According to some it’s just frozen payments ?
Then they would have the funds for payment
Show Some Respect for Me, I am The Chief Rabbi of New York :)

Offline JACKBLUE

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Re: PSA: Don't swipe recklessly for others
« Reply #2121 on: February 17, 2019, 06:34:19 PM »
According to some it’s just frozen payments ?
Then they would have the funds for payment
i don’t think this is true.... besides the point they don’t have enough to pay back everyone.... they owe tons of people money....

Offline ExGingi

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Re: PSA: Don't swipe recklessly for others
« Reply #2122 on: February 17, 2019, 06:46:36 PM »
When a business is constantly losing money, or if owners treat the business accounts as their own personal accounts, and there's lots of cash flowing through the accounts (because people chose to finance this with their credit cards, without doing any due diligence), it's a game of musical chairs with more and more chairs being removed with every round.

I have seen business owners that have no clue about accounting, and have seen both sides of the story.

I've seen money losing businesses where the owners constantly paid personal expenses from business accounts (until the business was shuttered - just to open the next business). I have also seen profitable businesses that simply didn't know how to manage cash-flow. A review of their books and business practices, with some education, saved lots of money on bank fees and interest payments, and put the business finances into better perspective for the owner.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline Don Will

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Re: PSA: Don't swipe recklessly for others
« Reply #2123 on: February 17, 2019, 06:51:55 PM »
According to some it’s just frozen payments ?
Then they would have the funds for payment
Nah. From what it seems from what people posted here is that although it could be they did have some money to pay, they were using other cards to pay previous cards. Once their credit card processing terminal was frozen whatever funds they have are inaccessible and now they are in a hole where it's impossible to pay everyone


Offline YesThatsMe

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Re: PSA: Don't swipe recklessly for others
« Reply #2124 on: February 17, 2019, 07:03:14 PM »
This with the other stories.....

Also not. The numbers are way exaggerated everywhere. I’d recknown 15MM total is the max. Bad enough though.

Offline JACKBLUE

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Re: PSA: Don't swipe recklessly for others
« Reply #2125 on: February 17, 2019, 07:08:37 PM »
Also not. The numbers are way exaggerated everywhere. I’d recknown 15MM total is the max. Bad enough though.
i wish you were right! But unfortunately you’re not.....

Offline knowitall

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Re: PSA: Don't swipe recklessly for others
« Reply #2126 on: February 17, 2019, 07:39:54 PM »
i wish you were right! But unfortunately you’re not.....
With the exception of the CH court docs, the ratio of Hock/talk to details on this thread is staggering


Offline chevron

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Re: PSA: Don't swipe recklessly for others
« Reply #2128 on: February 17, 2019, 08:42:25 PM »
I'm still confused how the buzz fit in

Offline E R K

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Re: PSA: Don't swipe recklessly for others
« Reply #2129 on: February 17, 2019, 08:44:32 PM »
I'm still confused how the buzz fit in

I think Sterling bought The Buzz

Offline YesThatsMe

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Re: PSA: Don't swipe recklessly for others
« Reply #2130 on: February 17, 2019, 08:50:31 PM »
I think Sterling bought The Buzz
Tried to buy the Buzz

Offline Don Will

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Re: PSA: Don't swipe recklessly for others
« Reply #2131 on: February 17, 2019, 08:53:38 PM »
I'm still confused how the buzz fit in
Sterling was in the process of buying out the buzz. They were running the operation as if they actually owned it but did not actually own the buzz yet.

Offline Chief Rabbi of New York

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Re: PSA: Don't swipe recklessly for others
« Reply #2132 on: February 17, 2019, 09:16:55 PM »
All of this still seems like something is not accurate
Not even one person came forward saying they were scammed
Show Some Respect for Me, I am The Chief Rabbi of New York :)

Online zh cohen

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Re: PSA: Don't swipe recklessly for others
« Reply #2133 on: February 17, 2019, 09:28:12 PM »
All of this still seems like something is not accurate
Not even one person came forward saying they were scammed

Because all the people that fell for it in the first place, are the people that still believe that if they keep quiet they'll get their money back...

Offline Chief Rabbi of New York

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Re: PSA: Don't swipe recklessly for others
« Reply #2134 on: February 17, 2019, 09:41:11 PM »
Because all the people that fell for it in the first place, are the people that still believe that if they keep quiet they'll get their money back...


Seriously ? So they believe that the people will have money later and steal from them if they say anything public ?
Madoff went to prison for his Ponzi scheme
Should these people join him ?
Show Some Respect for Me, I am The Chief Rabbi of New York :)

Online zh cohen

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Re: PSA: Don't swipe recklessly for others
« Reply #2135 on: February 17, 2019, 10:26:12 PM »
With the exception of the CH court docs, the ratio of Hock/talk to details on this thread is staggering

The court documents are not from the CH story

Online zh cohen

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Re: PSA: Don't swipe recklessly for others
« Reply #2136 on: February 17, 2019, 10:31:19 PM »

Seriously ? So they believe that the people will have money later and steal from them if they say anything public ?


No, not at all. From the comments here it seems that they are being told that the only way it will work out is if they have time. (for what, I don't know. Maybe to liquidate the inventory?)

Offline Mplace

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Re: PSA: Don't swipe recklessly for others
« Reply #2137 on: February 17, 2019, 10:31:59 PM »

Seriously ? So they believe that the people will have money later and steal from them if they say anything public ?
Madoff went to prison for his Ponzi scheme
Should these people join him ?
yes
What's your plan for yud shvat?

Offline zale

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Re: PSA: Don't swipe recklessly for others
« Reply #2138 on: February 17, 2019, 11:58:48 PM »
No, not at all. From the comments here it seems that they are being told that the only way it will work out is if they have time. (for what, I don't know. Maybe to liquidate the inventory?)

From my understanding, liquidating the inventory will not cover what they owe. Not even close.

For all we know, they can be liquidating to use that money for their own legal defense. They can put that money in an offshore account and run away to another country to escape the inevitable barrage of civil lawsuits. "Give us time to work this out" can really mean "give us time to flee".

The fact that they are NOT CLEAR with the investors (or "victims") about what their plan is should raise a million red flags.

Offline YesThatsMe

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Re: PSA: Don't swipe recklessly for others
« Reply #2139 on: February 18, 2019, 12:08:03 AM »
From my understanding, liquidating the inventory will not cover what they owe. Not even close.

For all we know, they can be liquidating to use that money for their own legal defense. They can put that money in an offshore account and run away to another country to escape the inevitable barrage of civil lawsuits. "Give us time to work this out" can really mean "give us time to flee".

The fact that they are NOT CLEAR with the investors (or "victims") about what their plan is should raise a million red flags.

“Offshore Accounts” lol these are the kind of guys for whom Connecticut was exotic...