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I may meander but I'm 'exploring', not lost

Aug 14, 2007

Businessman scammed for AU$1.7m

An Australian businessman chasing an AU$100m deal with some Nigerian businessmen has lost AU$1.7m in what sounds like a classic 419 advance fee fraud.

"[T]he scam started a year ago in Japan before spreading to other countries, and then ended in Amsterdam where he came for an appointment with his alleged business partners. After advancing large sums of money, supposedly for such things as notary fees, the Australian man finally started getting the idea that he was being ripped off, police said. He alerted Dutch police who were then able to arrest the three suspected swindlers in an Amsterdam hotel where they had arranged to meet the Australian with a suitcase full of money claiming it would soon be his."


Being a businessman, I guess he assessed the potential reward and decided that a 1.7% advance was worth the risk, but no more.