PSA: Don't swipe recklessly for others

[zale]

I should point out that after speaking to a number of victims, it's absolutely clear to me that the merchants are criminals. They are רוצחים. I don't care how many times people who worked for them say that they had good intentions. The road to hell is paved with good intentions. At the end, these people knowingly schemed and conspired to swipe millions of dollars from unsuspecting cardholders

I'm absolutely sickened by the damage this is doing. The financial toll is devastating, but that's only the beginning. There is a huge psychological toll this is taking on the victims. People are unsure what to do, where to turn to, what action to take and what will happen. Even good lawyers can only help you so much. You have parents of large families, you have kollel yungerleit, you have bochurim of shidduch age that all now face the prospect of bankruptcy.

[LoLo]

I should also point out that these merchants have been around for many years and gave off the impression that they had a solid business with plenty of revolving cash. Nobody thought too deeply into it or asked too many questions.

+1. In the same way that amex increases your charge card unsecured spending power based on your usage and payment history.

Most people have no clue what it costs to swipe cards, and what regular business loan fees/interest rates are.

[chayal101]

Thanks for that heartfelt post (and all the crazy work you put into the ads and actually getting them published).  I'm truly curious, you seem like such a nice person, did you let others swipe because you were maybe naive or felt that you were trying to help them or their business?  Were you excited about the extra points (or the money from selling them)?  ....

EASY CASH, NAIVETY, + BLIND TRUST....

GOOGLE'S DEFINITION OF NAIVETY:
na·ive·té
/ˌnäˌēvəˈtā,näˈēv(ə)ˌtā/Submit
noun
noun: naivety; noun: naïvety
lack of experience, wisdom, or judgment.
"the administration's naiveté and inexperience in foreign policy"
synonyms:   innocence, lack of sophistication, lack of experience, ingenuousness, guilelessness, lack of guile, unworldliness, childlikeness, trustfulness, simplicity, naturalness; More
innocence or unsophistication.
"they took advantage of his naiveté and deep pockets"

[jose34]

Saw this hanging up around the Mir today.
Anyway know what this is all about.
Another scam or it legit?

[mmgfarb]

Saw this hanging up around the Mir today.
Anyway know what this is all about.
Another scam or it legit?

Doesn't mean it's a scam but it's probably a terrible investment

[gingyguy]

Doesn't mean it's a scam but it's probably a terrible investment

did you miss the part where it says guaranteed?!?!

[jose34]

did you miss the part where it says guaranteed?!?!

Thats why I was confused.
Once it says "guaranteed" means it a scam right? Or its not an investment.

[gingyguy]

Thats why I was confused.
Once it says "guaranteed" means it a scam right? Or its not an investment.

how can you thing scam if its endorsed by the rabboni of the mir?

[jose34]

how can you thing scam if its endorsed by the rabboni of the mir?

 

[Yehudaa]

Saw this hanging up around the Mir today.
Anyway know what this is all about.
Another scam or it legit?

Saw the sign too. I have a feeling I know who & what it is. Someone set up a meeting for me last week with a guy who has an investment that he offers to ppl and he sells it using all those terms. Not a swiping scam and much lower risk than a swiping scam but it sounds sketchy and I think there are alot of halachic questions about it (sounded like gezel to me, I then had a little halachic argument with the guy about that), which would make it interesting that it has approval from 'the rabbanim of the mir'. No use speculating too much; we can wait until Sunday.

[gingyguy]

Saw the sign too. I have a feeling I know who & what it is. Someone set up a meeting for me last week with a guy who has an investment that he offers to ppl and he sells it using all those terms. Not a swiping scam and much lower risk than a swiping scam but it sounds sketchy and I think there are alot of halachic questions about it (sounded like gezel to me, I then had a little halachic argument with the guy about that), which would make it interesting that it has approval from 'the rabbanim of the mir'. No use speculating too much; we can wait until friday.

FTFY

[ExGingi]

Saw the sign too. I have a feeling I know who & what it is. Someone set up a meeting for me last week with a guy who has an investment that he offers to ppl and he sells it using all those terms. Not a swiping scam and much lower risk than a swiping scam but it sounds sketchy and I think there are alot of halachic questions about it (sounded like gezel to me, I then had a little halachic argument with the guy about that), which would make it interesting that it has approval from 'the rabbanim of the mir'. No use speculating too much; we can wait until Sunday.

Someone should post R' Shafran's advice right next to these ads. Let people use their own judgment based on advice from a well-known and respected dayan vs whatever this offer is.

[Yehudaa]

FTFY

No, I was right the first time.

[Yehudaa]

Someone should post R' Shafran's advice right next to these ads. Let people use their own judgment based on advice from a well-known and respected dayan vs whatever this offer is.

What's his advice?

[Dan]

The only risk-free investment out there is earning ~2.45% in a savings account with FDIC insurance. Anything else that's not FDIC insured is a lie.