A teenager somewhere in the United States has agreed to return whatever hasnt been lost of over $900,000 he or she scammed from online sports bettors. The 17-year old remains unidentified and the headquarters of the criminal activity remain undisclosed as the teenager is legally a minor.
The teenager is also immune from prosecution as a adult. Federal regulators believe the 17-year-old possibly scammed investors of more than $1 million, when all is totaled, through his 'Invest Better 2001' web site and bulletin board. Needless to say, the website is now defunct. It is no longer on the web, not even as www.investbetter2001.con.
The online criminal entrepreneur promised risk-free investments of customer's savings -- a claim some people must have seen through. What was even more surprising was Invest Better 2001s guaranteed return of 125% up to, at particularly long odds, 2,500%. One might have wondered what would have been in store for 2002 if the feds had not had a look at the culprit's site and operations.
The scammed revenue was then bet on sporting events through a Costa Rican sports betting site. The totals of the amounts scammed and to be returned are undisclosed. But the youngster may have lost as little as 10% of his people's money. That's a record that's better than Enron's.
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