Money for Nothing
By Bob McDonnellWhen Steve Bornoff wanted to sell his car, the last thing he was worried about was getting too much for it.
But that’s what happened to the Hanover contractor.
No sooner had he listed his Toyota Scion for a selling-price of $15,000 in a used-car magazine, then the first offer arrived ... for $22,000.
Calling himself a “broker” purchasing the car for a client, the prospective buyer text-messaged Bornoff. The broker explained that a previous purchase had fallen through, he still had a $22,000 certified check from his client, and Bornoff’s car was a suitable alternative, so Bornoff could just wait for the check to clear and then wire the extra money back to his client.
This was a version of the overpayment/auction fraud scam, which is becoming more prevalent and sophisticated in Virginia.Fortunately, Bornoff contacted our Office before falling prey, and we were able to save him from losing any money.
The con artists search classified ads, and offer the seller an overpayment. They create a certified check that can fool some of the best bank tellers. Initially, the check clears the bank and the seller sends the overpayment back to the buyer. A few days later, though, the fraud is discovered and the funds are retrieved from the sellers account. Now the victimized seller is left paying for the funds he sent to the culprit.
Several victims of this scam who have contacted our Office told us they took the precaution of asking their bank if the check was legitimate, and were told it was, only to discover too late that the check was actually fake, thereby being left to repay the bank thousands of dollars.
Legitimate offers to purchase products seldom come with overpayment from buyers. Be leery of a buyer trying to over-pay you for a product. And don’t barter with someone anonymously over the Internet – especially if he is from another country.
To report a scam, first contact your local police department. Then feel free to contact our consumer hotline at 1-800-451-1525 or complete our contact form. If you have fallen victim to an overpayment scam based on a listing of an item for sale, contact the source that advertised the item for you to let them know of the scam. Because most overpayment scams involve a victim in another state or country, I’d recommend reporting the problem to the Federal Trade Commission online through www.ftc.gov or toll-free calling 877-FTC-HELP.
Consumer protection is an important statutory duty of the Office of the Attorney General, and our staff can help. In an age of increased consumer scams, we must all continue to be educated and vigilant.
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