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 1452753 times)

Offline Melech

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Re: PSA: Don't swipe recklessly for others
« Reply #5640 on: September 10, 2024, 10:15:50 AM »
What's the latest with MYS?

Offline sylk

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Re: PSA: Don't swipe recklessly for others
« Reply #5641 on: September 11, 2024, 08:38:36 PM »
What's the latest with MYS?
CEO woke up and they are paying out of diff account

Offline shlomoandtam

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Re: PSA: Don't swipe recklessly for others
« Reply #5642 on: September 11, 2024, 10:19:17 PM »
This thread is half PSAs and half BG questions and tips, should we make a "BG tips, tricks, and questions" thread?

Online Just A Jew

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Re: PSA: Don't swipe recklessly for others
« Reply #5643 on: September 12, 2024, 12:30:25 AM »
Freedom of the press is alive at the US Mint.
- Gallagher

Online yawn

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Re: PSA: Don't swipe recklessly for others
« Reply #5644 on: September 12, 2024, 06:54:41 AM »
This thread is half PSAs and half BG questions and tips, should we make a "BG tips, tricks, and questions" thread?
My understanding was that this is a BG questions and tips thread, and that’s precisely where the title is needed. It’s like a constant reminder to anyone in the game to not get too reckless. No?

Offline Melech

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Re: PSA: Don't swipe recklessly for others
« Reply #5645 on: September 12, 2024, 03:11:45 PM »
CEO woke up and they are paying out of diff account
Yeah just got paid back... was weird

Offline shlomoandtam

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Re: PSA: Don't swipe recklessly for others
« Reply #5646 on: September 12, 2024, 03:57:43 PM »
My understanding was that this is a BG questions and tips thread, and that’s precisely where the title is needed. It’s like a constant reminder to anyone in the game to not get too reckless. No?
I hear, I feel like it takes away from the PSA when you see everyone ignoring it.

Offline Redbull3

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Re: PSA: Don't swipe recklessly for others
« Reply #5647 on: September 13, 2024, 09:40:59 AM »
Probably makes sense to give buying groups their own master thread and the other shady stuff like farms stays in the 'recklessly' one

Offline mlardi

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Offline egzactly

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Re: PSA: Don't swipe recklessly for others
« Reply #5649 on: September 27, 2024, 11:23:00 AM »
Probably makes sense to give buying groups their own master thread and the other shady stuff like farms stays in the 'recklessly' one

https://forums.dansdeals.com/index.php?topic=137569.0

Offline shlomoandtam

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Re: PSA: Don't swipe recklessly for others
« Reply #5650 on: September 28, 2024, 10:05:14 PM »
if someone is offering 27% IRR and 3 year return of capital on a deal, is that to good to be true?

Online DaasTora

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Re: PSA: Don't swipe recklessly for others
« Reply #5651 on: September 28, 2024, 10:13:13 PM »
if someone is offering 27% IRR and 3 year return of capital on a deal, is that to good to be true?
This thread
https://forums.dansdeals.com/index.php?topic=82485.300
“In G-d we trust; all others must bring data”
- Edwin R. Fisher

Offline Yehudaa

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Re: PSA: Don't swipe recklessly for others
« Reply #5652 on: September 28, 2024, 10:19:28 PM »
if someone is offering 27% IRR and 3 year return of capital on a deal, is that to good to be true?
Definitely sounds too good to be true and a red flag. I'd say it needs a very thorough look at all assumptions and manager's track record, but nobody can say definitively without seeing the deal.

In any case, don't invest more than you can comfortably afford to lose. High reward = high risk.
« Last Edit: September 28, 2024, 10:45:25 PM by Yehudaa »

Offline MoYS

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Re: PSA: Don't swipe recklessly for others
« Reply #5653 on: September 28, 2024, 10:41:12 PM »
This thread
https://forums.dansdeals.com/index.php?topic=82485.300
Chances are it's probably neither, not a scam or a deal.
That being said many people lose lots of money on investments that are not scams.

But I believe this was already discussed here

Online Euclid

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Re: PSA: Don't swipe recklessly for others
« Reply #5654 on: November 03, 2024, 05:17:07 PM »
NEWARK, N.J. – An Ocean County, New Jersey, man today admitted that he illegally laundered the proceeds of a wire fraud scheme, U.S. Attorney Philip R. Sellinger announced.

 41, of Lakewood, New Jersey, pleaded guilty before U.S. District Judge Kevin McNulty to an information charging him with money laundering.

According to documents filed in the case and statements made in court:

He  made or caused others to make numerous fraudulent financial transactions through at least two entities that he  formed and established as merchants that used multiple credit card processing companies. These transactions resulted in more than $1 million in losses to a multinational financial services corporation that specialized in payment cards. He  laundered portions of the proceeds of this scheme, including through an approximately $500,000 wire transfer from a bank account under his control.

The charge of money laundering is punishable by a maximum potential penalty of 10 years in prison and a fine $250,000, or twice the gross profits or gross loss suffered by the victims, whichever is greatest. Sentencing is scheduled for Sept. 8, 2023.


Sentenced to 2 years.

Anyone know the details of this "fraud"? The indictment is lacking basic information.