Are you willing to lend to it?" An informal
process of tendering ensues. Sometimes it ends in a transaction and
the shopper collects a small commission (between one quarter of a
percentage point and two percentage points - depending on the
amount). Mostly it doesn't -and the Flying Dutchman resumes his
wanderings looking for more venal gulosity and less legal probity.
The Con-Men
These are crooks who set up elaborate schemes ("sting operations")
to extract money from unsuspecting people and financial
institutions. They establish "front" or "phantom" firms and offices
throughout the world. They tempt the gullible by offering them
enormous, immediate, tax-free, effort-free, profits. They let the
victims profit in the first round or two of the scam. Then, they
sting: the victims invest money and it evaporates together with the
dishonest operators.
The "offices" are deserted, the fake identities, the forged bank
references, the falsified guarantees are all exposed (often with the
help of an inside informant).
Probably the most famous and enduring scam is the "Nigerian-type
Connection". Letters - allegedly composed by very influential and
highly placed officials - are sent out to unsuspecting businessmen.
The latter are asked to make their bank accounts available to the
former, who profess to need the third party bank accounts through
which to funnel the sweet fruits of corruption.
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