European Property Coin – 7 relates to a current follow-on fraud. We have seen a spate of follow-on frauds appear lately. See this blog for an explanation of a follow-on fraud HERE.

This follow-on fraud is a little different from the norm. In this case the scammers are claiming that they are the developers of the crypto-currency and that Clear View Marketing Services Ltd was a dishonest sales organisation. Of course it is all lies. The sole aim of a follow-on fraud is to get more money from the victim.

The letter below has been sent to the home addresses of many victims of the European Property Coin scam. Often letters are followed up with a telephone call. This raises the question of how do these crooks get hold of the email addresses, home addresses and telephone numbers of the investors ? Many commentators will say that there is a dark web where details such as these are traded. That may be true, but we think there is a simpler explanation. Many of the scams we investigate have common denominators. It doesn’t matter if they are crypto-currency scams, commodity scams, short-term bond scams, property scams (hotel and care home rooms), share scheme scams or in fact any other kind of scam. The same organisations and the same names keep popping up. These people are not the founders of the scams. They don’t come up with the scam in the first place. They are the people who facilitate the scam i.e the back-office people who hold all the personal details of investors. They are the “escrow agents” i.e the parties who agree to take in the investment money. They are the sales agents who sell the scams to investors, appearing to be separate companies but actually all co-ordinated either by a master agent or by the organisation providing the back-office service.

We are not suggesting that there is only one group doing this. Truth be told we know of three teams which do this. There is one which stands out above the others in terms of its reach and range of scams. It is the scams associated with this team which appear most often as follow-on frauds.

We will be publishing a blog in the near future listing the organisations and people we regularly come across in scams. In the meantime here is the follow-on fraud letter relating to European Property Coin. Just to be absolutely clear – this letter is a scam so if you receive one do not pay them any money.

To view our previous blog on the European Property Coin scam please click HERE.