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177 votes

I am an EU resident being contacted about stock I own in a defunct company by a supposedly US based lawyer, is this a scam?

A bit of detective work. The website lists no names for the firm. Any business, doctor, lawyer, etc, is at least going to tell you who the main partners are. The site itself looks like a generic ...
JTP - Apologise to Monica's user avatar
175 votes

Someone stated that my uncle died in Canada and there is money for me

If I had a legitimate reason to give to you $100,000 with a $500 fee, I would ask you if it is okay to take the $500 out of the $100,000, and if you agree, I'd pay you $99,500 without any cost for you....
gnasher729's user avatar
  • 22.9k
106 votes

How to prove that invoices are really unpaid?

You can't prove a negative. Therefore, you cannot prove that an invoice is unpaid; it is assumed to be unpaid on claiming so, and the payer has to prove that he paid. That should be easy for him, if ...
Aganju's user avatar
  • 37.7k
87 votes

Is it legal if I'm managing my family's entire wealth?

I am not going to discuss legality, because with family members you are able to give a lot of guidance and assistance without running into legal issues. The biggest problem is that when they ...
mhoran_psprep's user avatar
75 votes

Can a CEO short his own company?

That would be the ultimate in insider trading. They made a stock transaction knowing in advance what was going to happen to the share price. They could easily expect to face jail time, plus the CEO ...
mhoran_psprep's user avatar
64 votes
Accepted

Selling a property - multiple offers of same value?

There are no rules about how to handle equal offers. A seller is free to accept any offer they want. They don't even have to accept the highest offer if they don't want to. Reasons why a seller might ...
DJClayworth's user avatar
  • 33.2k
58 votes

Is it legal if I'm managing my family's entire wealth?

You are opening up a large can of worms with how you are doing this. In very positive years, you'll have taxes based on your income, potential Alternative Minimum Tax (AMT), etc. Each of the family ...
JTP - Apologise to Monica's user avatar
52 votes

Can I create an LLC to put my assets into it in case I am personally sued

Even if the LLC was safe, that wouldn't help you. If you set up this LLC (and ignoring complications like taxes if the LLC owns your house, you have to pay rent to the LLC for living in it, the LLC ...
Justin Cave's user avatar
  • 27.2k
45 votes

I am an EU resident being contacted about stock I own in a defunct company by a supposedly US based lawyer, is this a scam?

Purely FWIW, "Does this sound legitimate?" The company no longer trades on any stock market as it is in receivership. There is no administrative board to contact, and it doesn't even have a ...
Fattie's user avatar
  • 13.8k
39 votes

Is it illegal for a student loan servicer to lower the minimum monthly payment after overpayments?

No, I don’t believe this is illegal. I think you’ve already highlighted the reasons this is done: As a service to the borrower, it allows them to lower their payment if they choose. If the borrower ...
Ben Miller's user avatar
  • 115k
38 votes

I am an EU resident being contacted about stock I own in a defunct company by a supposedly US based lawyer, is this a scam?

Definitely a scam. Some warning signs in the email: Please find attached the documents pertaining to the investment that you made in XXX Investment currently known as XXIT (XXX XXX Investment Trust)...
GB supports the mod strike's user avatar
34 votes

Is this investment opportunity problematic?

It would have to be made as a "gift", and then the return would be a "gift" back to you, because you're not allowed to use a loan for a down payment. This is not to evade taxes. This is to evade a ...
Brythan's user avatar
  • 21k
33 votes

What are the advantages to banks being located in the City of London (the Square Mile)?

Historically, one reason is that the needs of "modern" banking (that which emerged during the 18th century) more-or-less required that banks were close to each other, since much of their ...
TripeHound's user avatar
  • 9,173
32 votes

Is it legal if I'm managing my family's entire wealth?

I agree that this is a "bad idea" but I want to add in one more reason. Let's pretend your family and you are ok with all the tax ramifications and legal issues. This is still a horrid idea. You ...
coteyr's user avatar
  • 3,641
28 votes

Does a direct deposit arrangement also enable direct withdrawals?

Usually, when you sign up for direct deposit you have to sign a form giving your consent. This contains a clause which allows the company to make withdrawals up to the paycheck amount, in order to ...
Nosjack's user avatar
  • 8,495
27 votes

What are the advantages to banks being located in the City of London (the Square Mile)?

The main advantage to the City of London is that all the big banks are there. So there’s a large pool of experienced employees, there are legal firms with vast experience in the banking industry, ...
Mike Scott's user avatar
  • 23.4k
27 votes
Accepted

Can I open a 529 retroactively to pay my student loans?

529 Contributions are not tax advantaged at the federal level, just the earnings. If you put $1000 in your 529 account, then immediately use it to pay your loan, you don't get any benefit. If you put $...
user3757614's user avatar
  • 4,343
26 votes
Accepted

Why is the price of hydrogen (H2) in Germany fixed at 9.50 EUR per kg?

Currently only one company builds, maintains and operates these H2 Stations. Its the H2 MOBILITY Deutschland GmbH & Co. KG which in turn are six companies (Air Liquide, Daimler, Linde, OMV, Shell ...
Thomas 's user avatar
  • 997
26 votes

Can I create an LLC to put my assets into it in case I am personally sued

You own the LLC, which could be seized since it's your property (I'm not a lawyer) If you were personally sued then the court would look at your assets - one of which is an LLC with all your money in ...
sevensevens's user avatar
  • 4,099
23 votes

Do I need my own attorney during mortgage refinancing?

I've never used an attorney for a mortgage refinance before, and never wished I had either. There really isn't much more to a refinance of a mortgage than any other type of refinance (e.g. car, ...
TTT's user avatar
  • 47.2k
19 votes

Scammer wants details and credentials for my empty & unused bank account. What could go wrong?

It's a scam. Here are the many signs: The bank will never ask for your password. They can access your account without it. The bank will never use a customer's account for their own business. They ...
Ben Miller's user avatar
  • 115k
18 votes
Accepted

What is the rationale behind an FSA being "Use it or Lose it"?

The FSA, in contrast to the HSA, is not an "account" that you put money in. FSA stands for "Flexible Spending Arrangement," not "Account." Technically, it is a defined-benefit plan. Here is the ...
Ben Miller's user avatar
  • 115k
18 votes

I am an EU resident being contacted about stock I own in a defunct company by a supposedly US based lawyer, is this a scam?

In case I provide my bank account number (IBAN number in the EU), how will they be able to abuse this? There are multiple ways. In this case, it could be that once you give the details, they will ...
Dheer's user avatar
  • 57k
16 votes

Someone stated that my uncle died in Canada and there is money for me

If it were a legitimate case of them recovering money for you for a percentage, then they would be working it in a different direction. Asking for a "fee" puts this very much in suspicious scam ...
Satanicpuppy's user avatar
16 votes

Someone stated that my uncle died in Canada and there is money for me

In a genuine probate case the executor of the estate will not ask beneficiaries for money. The executor has a duty to identify the beneficiaries of the will and notify them, usually before the will is ...
Five Bagger's user avatar
  • 9,785
15 votes

Scammer wants details and credentials for my empty & unused bank account. What could go wrong?

First off, do not ever tell someone your password. Nobody who actually works for the bank would need your password to access the account. Also, it may or may not be a scam (it almost assuredly is), ...
user132278's user avatar
15 votes

What are the advantages to banks being located in the City of London (the Square Mile)?

Quite often competitors co-locate in order to increase business. Some business owners, see as it negative when a competitor moves in "across the street", but some see it as a positive. An example of ...
Pete B.'s user avatar
  • 76.2k
14 votes

A person ask you for money to help with a business problem in another country, you feel is trying to scam you, but you want proof, what can you do?

But how I can prove; to this person; that I know he's trying to scam me for money. Any reason you want to prove something to scammer? Any proof you throw at him, he will be able to come up with some ...
Dheer's user avatar
  • 57k
13 votes

I am an EU resident being contacted about stock I own in a defunct company by a supposedly US based lawyer, is this a scam?

This sounds like a scam, how really depends on the paperwork they want you to sign. Here is an additional piece that is cause for concern: I did a reverse imagesearch on their about picture and it ...
real_paul's user avatar
  • 231
12 votes

Is it legal if I'm managing my family's entire wealth?

Big mistake: You are presuming trust This is the biggest blunder I see in money handling. "Oh I'm a good person and everyone knows my intentions are good. And they're really happy with me right now,...
Harper - Reinstate Monica's user avatar

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