Australian Government Creates Online Investment Hoax

from the now-that'll-teach-ya dept

Since April 1 of last year, the Australian equivalent to the US's SEC has been running an online scam. They were trying to get people to agree to invest $10,000 to $50,000 in insurance. The site was advertised on several portals and suckered in 233 people who agreed to invest at least $10,000 despite there being no official prospectus. The Australian agency behind the hoax went public with it today to help educate Australians about internet fraud. They said if this had been a real hoax it would have brought in $4 million. That gives me an idea... Anyone for some Techdirt insurance?
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  1. identicon
    Alternatives, 13 Feb 2001 @ 12:09pm

    Think investment grade copper

    Yuppers. 99.99% pure. And illegal to have more than 200 LBS, due to WWII hording rules.

    Better than normal copper, because it is INVESTMENT GRADE.

    link to this | view in thread ]

  2. identicon
    Ryan, 13 Feb 2001 @ 6:44pm

    Re: Think investment grade copper

    It sort of goes with the Australian sense of humour, I can see them chuckling away at the guys that signed up.

    link to this | view in thread ]

  3. identicon
    Anonymous Coward, 14 Feb 2001 @ 1:09pm

    Re: Think investment grade copper

    The horrible thing is that if some
    private citizen pulled of this hoax
    with the purest intent of educating
    his countrymen he would be arrested
    and carted off to a federal prison.

    link to this | view in thread ]


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