Arizona  |  Investment Law

Legal Question

Asked on: 10/26/07, 2:36 pm

Philanthropic Trust

I have a guy trying to ''give'' me 50 million dollars through a philanthropic trust. I'm not a charity or a non-profit. Threre is a 10% letter of credit to back my downpayment involved and a $7,500 consulting fee. They say the trust is ''invitation only'' and I must act now to take advantage. They also state that $50 million is the minimum and I don't have to pay it back. Sound like a scam. Has anyone every heard of such? I don't know the details of the trust because they won't tell me. If it's real, I will need an attorney. Unfortunately, I think someone is just out to raid my cookie jar.

1 Answer

Answered on: 10/26/07, 3:06 pm by H.M. Torrey

Re: Philanthropic Trust

Your instincts here are probably exactly right. We do not have enough information, but from what you have stated thus far, sounds like a typical "nigerian internet scam". Definitely be careful or retain counsel to better look into the matter for you, if you feel there may be some legitimacy.

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