Beware The "Fannie Mae" Prize Draw Scam

Scammers love to tap into national trends to put a new face on an old scam, and the “Fannie Mae, Freddie Mac Equity Prize Draw” scam spotted by the Louisville, KY BBB is no exception.

The faxed scam says, “We are happy to info you that you have emerged a winner under the F&F EQUITY DRAW, which is part of a promotional draws organized by all crediting lending partners to enable home owners who owned a home all over the United States of America have more money, and at the same time buy more homes in the area where they live. The funds were drawn from part of the total Fifty Billion US Dollars ($50 Billion) release to the financial institutions and creditros by the Government and other donor nations who have so much interest and investments in the United States of America.”

Here’s the BBB’s report on investigating the scam:

After faxing my official “Equity Draw” information sheet to a number in Idaho, I called the 778 number and had the pleasure of speaking to “Jorge Marcelo”, at Fannie n Freddie Prize Headquarters. He said he had my fax right there in front of him, which is interesting since I never told him who I was nor did he ask. But he did tell me that to collect my big prize I was required to wire a “processing fee” of $850 to the Vegas address in my documents via Western Union, call him with the WU control number and then I could collect my riches.

Obviously I’m excited, so I invited the FBI to share in my excitement. I’m not sure if there’s anything here worth law enforcement pursuit, but that’ll be up to them. My guess is Jorge is probably not in BC, and that the WU office in Vegas will forward my $850 to another location, and it may be bounced several times.



Fraudsters have a core set of scams that they just keep putting new hats on old scams to fit the zeitgeist. Most of us wouldn’t fall for this iteration, rife with spelling and grammatical errors. But a few, like the desperate, elderly, ignorant, non-native-English-speaking, or some combination thereof, might. The scammers, will, however, try another variant on the lottery scam. For them, it’s all a numbers game, and their auto-dialers just keep ringing up one more.

(Photo: ptaff)

Comments

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  1. I could never take a letter seriously that murdered the English language like this: “The Administrative fee of $850 is our irrevocable pay order to the agent involved and is and shall insure….” At least throw in some commas.

  2. Anks329 says:

    It doesn’t matter where the money was wired to originally. If you have the control number, you can get the money from anywhere in the world.

  3. Coelacanth says:

    Age: No.

  4. Murph1908 says:

    My favorite:

    “I ……declare that all information is to the best of my knowledge.”

    Classic.

    Hard to imagine anyone falling for this.

    Then again, there’s Wizards First Rule.

  5. brokebackwallet says:

    Sadly there still are folks who fall for this. I’ll have a silent second for their money. Ok I’m done.

    Seriously though. Lawmakers should up the penalties and make hiding money/paper trails very difficult. Might not stop those scammers but if it makes a difference, job well done.

  6. Narockstar says:

    “Do you want to be Publicize?”

    Yes, if fact I’m changing my stage name to Publicize right now.

  7. xwildebeestx says:

    people who still use fax machines deserve to be scammed.

  8. wgrune says:

    The grammatical errors and random capitalization should be a huge tipoff. Who falls for this crap?

  9. “Furthermore, the said administrative fee s shall be paid in good, clean, clear, and unencumbered U.S. currency, and delivered , via transfer to your designated claim agent or banking coordinates.”

    I wonder how many banks get calls asking, “What their Lat & Long coordinates are. NO, not street address. What parallel are you located near dammit, I need my money!”

  10. Please answer YES or NO

    d. How old are you? Yes
    e. Are you working or retired? No
    g. How Long have you lived on this address? No
    i. How many people are living on this address? Yes

    It’s not the Freddie Prize Headquarters, it’s the Fannie and Freddie Prinze Headquarters. He never really recovered after Wing Commander, and now earns his money this way.

  11. ibored says:

    @git em steve dave

    a fool and his money will soon be parted…

  12. Ramrod says:

    I am going take over the scam game simply by hitting the spell check button in word.

  13. bologna_wallet says:

    Well, the bailout signed into law today is essentially a jackpot to delinquent homeowners sponsored by the taxpayers.

  14. Gah, I work with someone who talks and writes like this. He brings all of his work to me to fix the grammar and spelling. Fah-rust-rating! This would probably make sense to him and he would probably fall for it. Wait… that gives me an idea…

  15. drjayphd says:

    @Git Em SteveDave is a poor substitute for LindsayJoy: Well, you’re wrong. Freddie Prinze Jr. has actually joined the creative staff of World Wrestling Entertainment.

    Yes, really.

  16. @drjayphd: He knew we were onto him, so he joined the WWE as a cover story. He’s a clever one.

  17. coren says:

    “which is part of a promotional draws organized by all crediting lending partners to enable home owners who owned a home all over the United States of America have more money, and at the same time buy more homes in the area where they live”

    English, you speak?