Angel investments-and-Nigerian-Email-Scams
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Angel investing presentations and Nigerian email scam comparisons...

Angel investing presentations and Nigerian email scam comparisons...

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Angel investments-and-Nigerian-Email-Scams Angel investments-and-Nigerian-Email-Scams Presentation Transcript

  • Can Angel Investment Opportunities be likeNigerian Email Scams?WARNING: This presentation makes comparisons between Nigerian emailscams and angel investments. The hope is that this is valuable both to angelinvestors and companies that present to angel investors: use the tongue-in-cheek comparison to consider better vetting of companies, and betterpresentations to investors, respectively.Any similarity to existing investor presentations or Nigerian email scams ispurely accidental. “Angel Investments and Email Scams” ©2011 Tech Coast Angels
  • A great opportunity and team: lots of potential upside with minimal investment…FROM: OKONNOTE@NIGERIAN-419-SCAM.COM>TO: ANGEL@ANGELINVESTOR.COMSUBJECT: REQUEST FOR URGENT BUSINESS RELATIONSHIPFIRST, I MUST SOLICIT YOUR STRICTEST CONFIDENCE IN THIS TRANSACTION. THIS IS BY VIRTUE OF ITS NATURE AS BEING UTTERLY CONFIDENTIAL AND TOP SECRET. I AMSURE AND HAVE CONFIDENCE OF YOUR ABILITY AND RELIABILITY TO PROSECUTE A TRANSACTION OF THIS GREAT MAGNITUDE INVOLVING A PENDING TRANSACTIONREQUIRING MAXIMUM CONFIDENCE.WE ARE TOP OFFICIAL OF THE FEDERAL GOVERNMENT CONTRACT REVIEW PANEL WHO ARE INTERESTED IN IMPORTATION OF GOODS INTO OUR COUNTRY WITH FUNDSWHICH ARE PRESENTLY TRAPPED IN NIGERIA. IN ORDER TO COMMENCE THIS BUSINESS WE SOLICIT YOUR ASSISTANCE TO ENABLE US TRANSFER INTO YOUR ACCOUNT THESAID TRAPPED FUNDS.THE SOURCE OF THIS FUND IS AS FOLLOWS; DURING THE LAST MILITARY REGIME HERE IN NIGERIA, THE GOVERNMENT OFFICIALS SET UP COMPANIES AND AWARDEDTHEMSELVES CONTRACTS WHICH WERE GROSSLY OVER-INVOICED IN VARIOUS MINISTRIES. THE PRESENT CIVILIAN GOVERNMENT SET UP A CONTRACT REVIEW PANEL ANDWE HAVE IDENTIFIED A LOT OF INFLATED CONTRACT FUNDS WHICH ARE PRESENTLY FLOATING IN THE CENTRAL BANK OF NIGERIA READY FOR PAYMENT.HOWEVER, BY VIRTUE OF OUR POSITION AS CIVIL SERVANTS AND MEMBERS OF THIS PANEL, WE CANNOT ACQUIRE THIS MONEY IN OUR NAMES. I HAVE THEREFORE, BEENDELEGATED AS A MATTER OF TRUST BY MY COLLEAGUES OF THE PANEL TO LOOK FOR AN OVERSEAS PARTNER INTO WHOSE ACCOUNT WE WOULD TRANSFER THE SUM OFUS$21,320,000.00(TWENTY ONE MILLION, THREE HUNDRED AND TWENTY THOUSAND U.S DOLLARS). HENCE WE ARE WRITING YOU THIS LETTER. WE HAVE AGREED TO SHARETHE MONEY THUS; 1. 20% FOR THE ACCOUNT OWNER 2. 70% FOR US (THE OFFICIALS) 3. 10% TO BE USED IN SETTLING TAXATION AND ALL LOCAL AND FOREIGN EXPENSES. ITIS FROM THE 70% THAT WE WISH TO COMMENCE THE IMPORTATION BUSINESS.PLEASE,NOTE THAT THIS TRANSACTION IS 100% SAFE AND WE HOPE TO COMMENCE THE TRANSFER LATEST SEVEN (7) BANKING DAYS FROM THE DATE OF THE RECEIPT OFTHE FOLLOWING INFORMATIOM BY TEL/FAX; 234-1-7740449, YOUR COMPANYS SIGNED, AND STAMPED LETTERHEAD PAPER THE ABOVE INFORMATION WILL ENABLE USWRITE LETTERS OF CLAIM AND JOB DESCRIPTION RESPECTIVELY. THIS WAY WE WILL USE YOUR COMPANYS NAME TO APPLY FOR PAYMENT AND RE-AWARD THE CONTRACTIN YOUR COMPANYS NAME.WE ARE LOOKING FORWARD TO DOING THIS BUSINESS WITH YOU AND SOLICIT YOUR CONFIDENTIALITY IN THIS TRANSATION. PLEASE ACKNOWLEDGE THE RECEIPT OF THISLETTER USING THE ABOVE TEL/FAX NUMBERS. I WILL SEND YOU DETAILED INFORMATION OF THIS PENDING PROJECT WHEN I HAVE HEARD FROM YOU.YOURS FAITHFULLY,DR CLEMENT OKONNOTE;PLEASE QUOTE THIS REFERENCE NUMBER (VE/S/09/99) IN ALL YOUR RESPONSES. “Angel Investments and Email Scams” ©2011 Tech Coast Angels
  • The “Pitch”… FROM: OKONNOTE@NIGERIAN-419-SCAM.COM> TO: ANGEL@ANGELINVESTOR.COM SUBJECT: REQUEST FOR URGENT BUSINESS RELATIONSHIP FIRST, I MUST SOLICIT YOUR STRICTEST CONFIDENCE IN THIS TRANSACTION. THIS IS BY VIRTUE OF ITS NATURE AS BEING UTTERLY CONFIDENTIAL AND TOP SECRET. I AM SURE AND HAVE CONFIDENCE OF YOUR ABILITY AND RELIABILITY TO PROSECUTE A TRANSACTION OF THIS GREAT MAGNITUDE INVOLVING A PENDING TRANSACTION REQUIRING MAXIMUM CONFIDENCE. An email-scam might make a “secret” and “time critical” offer: WE ARE TOP OFFICIAL OF THE FEDERAL GOVERNMENT CONTRACT REVIEW PANEL WHO ARE INTERESTED IN IMPORATION OF GOODS INTO OUR COUNTRY WITH FUNDS WHICH ARE PRESENTLY TRAPPED IN NIGERIA. IN ORDER TO COMMENCE THIS BUSINESS WE SOLICIT YOUR ASSISTANCE TO ENABLE US TRANSFER INTO YOUR ACCOUNT THE SAID TRAPPED FUNDS.“SUBJECT:THIS FUND IS AS FOLLOWS; DURING THE LAST MILITARY REGIME HERE IN NIGERIA, THE GOVERNMENT OFFICIALS SET UP COMPANIES AND AWARDED THE SOURCE OF REQUEST FOR URGENT BUSINESS RELATIONSHIP THEMSELVES CONTRACTS WHICH WERE GROSSLY OVER-INVOICED IN VARIOUS MINISTRIES. THE PRESENT CIVILIAN GOVERNMENT SET UP A CONTRACT REVIEW PANEL AND WE HAVE IDENTIFIED A LOT OF INFLATED CONTRACT FUNDS WHICH ARE PRESENTLY FLOATING IN THE CENTRAL BANK OF NIGERIA READY FOR PAYMENT.FIRST, I MUST SOLICIT COLLEAGUES OF AND PANEL TO LOOK FOR AN OVERSEAS PARTNER INTOTHISTHISINTRANSACTION. THIS HOWEVER, BY VIRTUE OF OUR POSITION ASYOUR STRICTEST CONFIDENCE IN MONEY OUR NAMES. I HAVE THEREFORE, BEEN DELEGATED AS A MATTER OF TRUST BY MY CIVIL SERVANTS THE MEMBERS OF THIS PANEL, WE CANNOT ACQUIRE WHOSE ACCOUNT WE WOULD TRANSFER THE SUM OFIS BYMONEY THUS; 1. 20% FOR ITS NATURE70% FORBEING UTTERLYUSED IN SETTLING TAXATION AND ALLAND TOP EXPENSES. IT VIRTUE OF THE ACCOUNT OWNER 2. AS US (THE OFFICIALS) 3. 10% TO BE CONFIDENTIAL LOCAL AND FOREIGN US$21,320,000.00(TWENTY ONE MILLION, THREE HUNDRED AND TWENTY THOUSAND U.S DOLLARS). HENCE WE ARE WRITING YOU THIS LETTER. WE HAVE AGREED TO SHARE THESECRET. 70% THAT WE WISH TO COMMENCE THE IMPORTATION BUSINESS. IS FROM THE I AM SURE AND HAVE CONFIDENCE OF YOUR ABILITY AND RELIABILITY PLEASE,NOTE THAT THIS TRANSACTION IS 100% SAFE AND WE HOPE TO COMMENCE THE TRANSFER LATEST SEVEN (7) BANKING DAYS FROM THE DATE OF THE RECEIPT OFTO THE FOLLOWING INFORMATIOM BY TEL/FAX; 234-1-7740449, YOUR COMPANYS SIGNED, AND STAMPED LETTERHEAD PAPER THE ABOVE INFORMATION WILL ENABLE US PROSECUTE A TRANSACTION OF THIS GREAT MAGNITUDE INVOLVING A WRITE LETTERS OF CLAIM AND JOB DESCRIPTION RESPECTIVELY. THIS WAY WE WILL USE YOUR COMPANYS NAME TO APPLY FOR PAYMENT AND RE-AWARD THE CONTRACTPENDING TRANSACTION REQUIRING MAXIMUM CONFIDENCE.” IN YOUR COMPANYS NAME. WE ARE LOOKING FORWARD TO DOING THIS BUSINESS WITH YOU AND SOLICIT YOUR CONFIDENTIALITY IN THIS TRANSATION. PLEASE ACKNOWLEDGE THE RECEIPT OF THIS LETTER USING THE ABOVE TEL/FAX NUMBERS. I WILL SEND YOU DETAILED INFORMATION OF THIS PENDING PROJECT WHEN I HAVE HEARD FROM YOU. YOURS FAITHFULLY, DR CLEMENT OKONNOTE; PLEASE QUOTE THIS REFERENCE NUMBER (VE/S/09/99) IN ALL YOUR RESPONSES. “Angel Investments and Email Scams” ©2011 Tech Coast Angels
  • The “Pitch”… FROM: OKONNOTE@NIGERIAN-419-SCAM.COM> TO: ANGEL@ANGELINVESTOR.COM SUBJECT: REQUEST FOR URGENT BUSINESS RELATIONSHIP FIRST, I MUST SOLICIT YOUR STRICTEST CONFIDENCE IN THIS TRANSACTION. THIS IS BY VIRTUE OF ITS NATURE AS BEING UTTERLY CONFIDENTIAL AND TOP SECRET. I AM SURE AND HAVE CONFIDENCE OF YOUR ABILITY AND RELIABILITY TO PROSECUTE A TRANSACTION OF THIS GREAT MAGNITUDE INVOLVING A PENDING TRANSACTION REQUIRING MAXIMUM CONFIDENCE. An angel pitch might make a “secret” and “time critical” offer: WE ARE TOP OFFICIAL OF THE FEDERAL GOVERNMENT CONTRACT REVIEW PANEL WHO ARE INTERESTED IN IMPORATION OF GOODS INTO OUR COUNTRY WITH FUNDS WHICH ARE PRESENTLY TRAPPED IN NIGERIA. IN ORDER TO COMMENCE THIS BUSINESS WE SOLICIT YOUR ASSISTANCE TO ENABLE US TRANSFER INTO YOUR ACCOUNT THE SAID TRAPPED FUNDS. THE SOURCE OF THIS FUND IS AS FOLLOWS; DURING THE LAST MILITARY REGIME HERE IN NIGERIA, THE GOVERNMENT OFFICIALS SET UP COMPANIES AND AWARDEDOur technology is unique, trade secret intellectual property. THEMSELVES CONTRACTS WHICH WERE GROSSLY OVER-INVOICED IN VARIOUS MINISTRIES. THE PRESENT CIVILIAN GOVERNMENT SET UP A CONTRACT REVIEW PANEL AND WE HAVE IDENTIFIED A LOT OF INFLATED CONTRACT FUNDS WHICH ARE PRESENTLY FLOATING IN THE CENTRAL BANK OF NIGERIA READY FOR PAYMENT.We value your participation in this opportunity. HOWEVER, BY VIRTUE OF OUR POSITION AS CIVIL SERVANTS AND MEMBERS OF THIS PANEL, WE CANNOT ACQUIRE THIS MONEY IN OUR NAMES. I HAVE THEREFORE, BEEN DELEGATED AS A MATTER OF TRUST BY MY COLLEAGUES OF THE PANEL TO LOOK FOR AN OVERSEAS PARTNER INTO WHOSE ACCOUNT WE WOULD TRANSFER THE SUM OFWe have others lined up to invest. US$21,320,000.00(TWENTY ONE MILLION, THREE HUNDRED AND TWENTY THOUSAND U.S DOLLARS). HENCE WE ARE WRITING YOU THIS LETTER. WE HAVE AGREED TO SHARE THE MONEY THUS; 1. 20% FOR THE ACCOUNT OWNER 2. 70% FOR US (THE OFFICIALS) 3. 10% TO BE USED IN SETTLING TAXATION AND ALL LOCAL AND FOREIGN EXPENSES. IT IS FROM THE 70% THAT WE WISH TO COMMENCE THE IMPORTATION BUSINESS.We would like to close the deal as soon as possible. PLEASE,NOTE THAT THIS TRANSACTION IS 100% SAFE AND WE HOPE TO COMMENCE THE TRANSFER LATEST SEVEN (7) BANKING DAYS FROM THE DATE OF THE RECEIPT OF THE FOLLOWING INFORMATIOM BY TEL/FAX; 234-1-7740449, YOUR COMPANYS SIGNED, AND STAMPED LETTERHEAD PAPER THE ABOVE INFORMATION WILL ENABLE US WRITE LETTERS OF CLAIM AND JOB DESCRIPTION RESPECTIVELY. THIS WAY WE WILL USE YOUR COMPANYS NAME TO APPLY FOR PAYMENT AND RE-AWARD THE CONTRACT IN YOUR COMPANYS NAME. WE ARE LOOKING FORWARD TO DOING THIS BUSINESS WITH YOU AND SOLICIT YOUR CONFIDENTIALITY IN THIS TRANSATION. PLEASE ACKNOWLEDGE THE RECEIPT OF THIS LETTER USING THE ABOVE TEL/FAX NUMBERS. I WILL SEND YOU DETAILED INFORMATION OF THIS PENDING PROJECT WHEN I HAVE HEARD FROM YOU. YOURS FAITHFULLY, DR CLEMENT OKONNOTE; PLEASE QUOTE THIS REFERENCE NUMBER (VE/S/09/99) IN ALL YOUR RESPONSES. “Angel Investments and Email Scams” ©2011 Tech Coast Angels
  • The “People” or “Team”… FROM: OKONNOTE@NIGERIAN-419-SCAM.COM> TO: ANGEL@ANGELINVESTOR.COM SUBJECT: REQUEST FOR URGENT BUSINESS RELATIONSHIP FIRST, I MUST SOLICIT YOUR STRICTEST CONFIDENCE IN THIS TRANSACTION. THIS IS BY VIRTUE OF ITS NATURE AS BEING UTTERLY CONFIDENTIAL AND TOP SECRET. I AM SURE AND HAVE CONFIDENCE OF YOUR ABILITY AND RELIABILITY TO PROSECUTE A TRANSACTION OF THIS GREAT MAGNITUDE INVOLVING A PENDING TRANSACTION REQUIRING MAXIMUM CONFIDENCE. An email-scam might have “credentialed” team members: WE ARE TOP OFFICIAL OF THE FEDERAL GOVERNMENT CONTRACT REVIEW PANEL WHO ARE INTERESTED IN IMPORATION OF GOODS INTO OUR COUNTRY WITH FUNDS WHICH ARE PRESENTLY TRAPPED IN NIGERIA. IN ORDER TO COMMENCE THIS BUSINESS WE SOLICIT YOUR ASSISTANCE TO ENABLE US TRANSFER INTO YOUR ACCOUNT THE SAID TRAPPED FUNDS.“WE SOURCE OFTOP OFFICIAL OFTHE LAST MILITARY REGIME HERE IN NIGERIA, THE GOVERNMENT OFFICIALS SET UP COMPANIES AND AWARDED THE ARE THIS FUND IS AS FOLLOWS; DURING THE FEDERAL GOVERNMENT CONTRACT REVIEW THEMSELVES CONTRACTS WHICH WERE GROSSLY OVER-INVOICED IN VARIOUS MINISTRIES. THE PRESENT CIVILIAN GOVERNMENT SET UP A CONTRACT REVIEW PANEL ANDPANEL WHO AAREINFLATED CONTRACT FUNDS WHICHIMPORTATION OF GOODS INTOFOR PAYMENT. WE HAVE IDENTIFIED LOT OF INTERESTED IN ARE PRESENTLY FLOATING IN THE CENTRAL BANK OF NIGERIA READY OUR COUNTRYWITH FUNDSOFWHICHASARE PRESENTLY THIS PANEL, WE CANNOT ACQUIRE THIS MONEY ININWE WOULDI HAVE TO SUM OF HOWEVER, BY VIRTUE OUR POSITION CIVIL SERVANTS AND MEMBERS OF TRAPPED IN NIGERIA. OUR ORDER THEREFORE, BEEN DELEGATED AS A MATTER OF TRUST BY MY COLLEAGUES OF THE PANEL TO LOOK FOR AN OVERSEAS PARTNER INTO WHOSE ACCOUNT NAMES. TRANSFER THECOMMENCE 20% FOR THEBUSINESS 70% FOR SOLICIT YOURBEASSISTANCE TO ALL LOCAL AND FOREIGN EXPENSES. IT THIS ACCOUNT OWNER 2. WE US (THE OFFICIALS) 3. 10% TO USED IN SETTLING TAXATION AND ENABLE US US$21,320,000.00(TWENTY ONE MILLION, THREE HUNDRED AND TWENTY THOUSAND U.S DOLLARS). HENCE WE ARE WRITING YOU THIS LETTER. WE HAVE AGREED TO SHARE THE MONEY THUS; 1.TRANSFER INTO YOUR ACCOUNT THE SAID TRAPPED FUNDS.” IS FROM THE 70% THAT WE WISH TO COMMENCE THE IMPORTATION BUSINESS. PLEASE,NOTE THAT THIS TRANSACTION IS 100% SAFE AND WE HOPE TO COMMENCE THE TRANSFER LATEST SEVEN (7) BANKING DAYS FROM THE DATE OF THE RECEIPT OF THE FOLLOWING INFORMATIOM BY TEL/FAX; 234-1-7740449, YOUR COMPANYS SIGNED, AND STAMPED LETTERHEAD PAPER THE ABOVE INFORMATION WILL ENABLE US WRITE LETTERS OF CLAIM AND JOB DESCRIPTION RESPECTIVELY. THIS WAY WE WILL USE YOUR COMPANYS NAME TO APPLY FOR PAYMENT AND RE-AWARD THE CONTRACT IN YOUR COMPANYS NAME. WE ARE LOOKING FORWARD TO DOING THIS BUSINESS WITH YOU AND SOLICIT YOUR CONFIDENTIALITY IN THIS TRANSATION. PLEASE ACKNOWLEDGE THE RECEIPT OF THIS LETTER USING THE ABOVE TEL/FAX NUMBERS. I WILL SEND YOU DETAILED INFORMATION OF THIS PENDING PROJECT WHEN I HAVE HEARD FROM YOU. YOURS FAITHFULLY, DR CLEMENT OKONNOTE; PLEASE QUOTE THIS REFERENCE NUMBER (VE/S/09/99) IN ALL YOUR RESPONSES. “Angel Investments and Email Scams” ©2011 Tech Coast Angels
  • The “People” or “Team”… FROM: OKONNOTE@NIGERIAN-419-SCAM.COM> TO: ANGEL@ANGELINVESTOR.COM SUBJECT: REQUEST FOR URGENT BUSINESS RELATIONSHIP FIRST, I MUST SOLICIT YOUR STRICTEST CONFIDENCE IN THIS TRANSACTION. THIS IS BY VIRTUE OF ITS NATURE AS BEING UTTERLY CONFIDENTIAL AND TOP SECRET. I AM SURE AND HAVE CONFIDENCE OF YOUR ABILITY AND RELIABILITY TO PROSECUTE A TRANSACTION OF THIS GREAT MAGNITUDE INVOLVING A PENDING TRANSACTION REQUIRING MAXIMUM CONFIDENCE. WE ARE TOP OFFICIAL OF THE FEDERAL GOVERNMENT CONTRACT REVIEW PANEL WHO ARE INTERESTED IN IMPORATION OF GOODS INTO OUR COUNTRY WITH FUNDS WHICH ARE PRESENTLY TRAPPED IN NIGERIA. IN ORDER TO COMMENCE THIS BUSINESS WE SOLICIT YOUR ASSISTANCE TO ENABLE US TRANSFER INTO YOUR ACCOUNT THE An angel pitch might have “credentialed” team members: SAID TRAPPED FUNDS. THE SOURCE OF THIS FUND IS AS FOLLOWS; DURING THE LAST MILITARY REGIME HERE IN NIGERIA, THE GOVERNMENT OFFICIALS SET UP COMPANIES AND AWARDED THEMSELVES CONTRACTS WHICH WERE GROSSLY OVER-INVOICED IN VARIOUS MINISTRIES. THE PRESENT CIVILIAN GOVERNMENT SET UP A CONTRACT REVIEW PANEL AND WE HAVE IDENTIFIED A LOT OF INFLATED CONTRACT FUNDS WHICH ARE PRESENTLY FLOATING IN THE CENTRAL BANK OF NIGERIA READY FOR PAYMENT.CEO: Former VP of Sales with XYZ, Corp., MBA, BS CS HOWEVER, BY VIRTUE OF OUR POSITION AS CIVIL SERVANTS AND MEMBERS OF THIS PANEL, WE CANNOT ACQUIRE THIS MONEY IN OUR NAMES. I HAVE THEREFORE, BEEN DELEGATED AS A MATTER OF TRUST BY MY COLLEAGUES OF THE PANEL TO LOOK FOR AN OVERSEAS PARTNER INTO WHOSE ACCOUNT WE WOULD TRANSFER THE SUM OFCTO: Former CTO with ABC, Inc., MS/BS CS US$21,320,000.00(TWENTY ONE MILLION, THREE HUNDRED AND TWENTY THOUSAND U.S DOLLARS). HENCE WE ARE WRITING YOU THIS LETTER. WE HAVE AGREED TO SHARE THE MONEY THUS; 1. 20% FOR THE ACCOUNT OWNER 2. 70% FOR US (THE OFFICIALS) 3. 10% TO BE USED IN SETTLING TAXATION AND ALL LOCAL AND FOREIGN EXPENSES. ITVP Sales: Former sales exec with DE, Corp. IS FROM THE 70% THAT WE WISH TO COMMENCE THE IMPORTATION BUSINESS. PLEASE,NOTE THAT THIS TRANSACTION IS 100% SAFE AND WE HOPE TO COMMENCE THE TRANSFER LATEST SEVEN (7) BANKING DAYS FROM THE DATE OF THE RECEIPT OF THE FOLLOWING INFORMATIOM BY TEL/FAX; 234-1-7740449, YOUR COMPANYS SIGNED, AND STAMPED LETTERHEAD PAPER THE ABOVE INFORMATION WILL ENABLE US WRITE LETTERS OF CLAIM AND JOB DESCRIPTION RESPECTIVELY. THIS WAY WE WILL USE YOUR COMPANYS NAME TO APPLY FOR PAYMENT AND RE-AWARD THE CONTRACT IN YOUR COMPANYS NAME. WE ARE LOOKING FORWARD TO DOING THIS BUSINESS WITH YOU AND SOLICIT YOUR CONFIDENTIALITY IN THIS TRANSATION. PLEASE ACKNOWLEDGE THE RECEIPT OF THIS LETTER USING THE ABOVE TEL/FAX NUMBERS. I WILL SEND YOU DETAILED INFORMATION OF THIS PENDING PROJECT WHEN I HAVE HEARD FROM YOU. YOURS FAITHFULLY, DR CLEMENT OKONNOTE; PLEASE QUOTE THIS REFERENCE NUMBER (VE/S/09/99) IN ALL YOUR RESPONSES. “Angel Investments and Email Scams” ©2011 Tech Coast Angels
  • The “Proposition”… FROM: OKONNOTE@NIGERIAN-419-SCAM.COM> TO: ANGEL@ANGELINVESTOR.COM SUBJECT: REQUEST FOR URGENT BUSINESS RELATIONSHIP FIRST, I MUST SOLICIT YOUR STRICTEST CONFIDENCE IN THIS TRANSACTION. THIS IS BY VIRTUE OF ITS NATURE AS BEING UTTERLY CONFIDENTIAL AND TOP SECRET. I AM SURE AND HAVE CONFIDENCE OF YOUR ABILITY AND RELIABILITY TO PROSECUTE A TRANSACTION OF THIS GREAT MAGNITUDE INVOLVING A PENDING TRANSACTION REQUIRING MAXIMUM CONFIDENCE. An email-scam might offer an unbelievable return on your WE ARE TOP OFFICIAL OF THE FEDERAL GOVERNMENT CONTRACT REVIEW PANEL WHO ARE INTERESTED IN IMPORATION OF GOODS INTO OUR COUNTRY WITH FUNDS investment (ROI): WHICH ARE PRESENTLY TRAPPED IN NIGERIA. IN ORDER TO COMMENCE THIS BUSINESS WE SOLICIT YOUR ASSISTANCE TO ENABLE US TRANSFER INTO YOUR ACCOUNT THE SAID TRAPPED FUNDS. THE SOURCE OF THIS FUND IS AS FOLLOWS; DURING THE LAST MILITARY REGIME HERE IN NIGERIA, THE GOVERNMENT OFFICIALS SET UP COMPANIES AND AWARDED THEMSELVES CONTRACTS WHICH WERE GROSSLY OVER-INVOICED IN VARIOUS MINISTRIES. THE PRESENT CIVILIAN GOVERNMENT SET UP A CONTRACT REVIEW PANEL AND“I HAVE THEREFORE, BEEN DELEGATED AS A MATTER OF TRUST BY MY WE HAVE IDENTIFIED A LOT OF INFLATED CONTRACT FUNDS WHICH ARE PRESENTLY FLOATING IN THE CENTRAL BANK OF NIGERIA READY FOR PAYMENT.COLLEAGUESOF OURTRUST BY MYPANELOF AND PANEL TO LOOK FOR AN ANCANNOT ACQUIRE THIS MONEY IN OURWE WOULDI HAVE THEREFORE, BEEN DELEGATED AS A MATTER OF THE COLLEAGUES TO LOOK FOR OVERSEAS PARTNER INTO WHOSE ACCOUNT HOWEVER, BY VIRTUE OF POSITION AS CIVIL SERVANTS THE MEMBERS OF THIS PANEL, WE OVERSEAS PARTNER INTO WHOSE NAMES. TRANSFER THE SUM OF US$21,320,000.00(TWENTY ONE MILLION, THREE HUNDRED AND TWENTY THOUSAND U.S DOLLARS). HENCE WE ARE WRITING YOU THIS LETTER. WE HAVE AGREED TO SHAREACCOUNT WE WOULD OWNER 2. 70% FOR US (THE OFFICIALS) 3. 10% TO BE USED IN SETTLING TAXATION AND ALL LOCAL AND FOREIGN EXPENSES. IT THE MONEY THUS; 1. 20% FOR THE ACCOUNT TRANSFER THE SUM OF US$21,320,000.00(TWENTY ONE IS FROM THE 70% THAT WE WISH TO COMMENCE THE IMPORTATION BUSINESS.MILLION,THAT THIS TRANSACTION IS 100% SAFE AND WE HOPE TO COMMENCE THE TRANSFER LATEST SEVEN U.S DOLLARS). HENCE WE PLEASE,NOTE THREE HUNDRED AND TWENTY THOUSAND (7) BANKING DAYS FROM THE DATE OF THE RECEIPT OFARE WRITING YOUDESCRIPTIONLETTER. COMPANYS SIGNED,YOUR STAMPED LETTERHEADAPPLY FOR PAYMENT ANDMONEYCONTRACT THE FOLLOWING INFORMATIOM BY TEL/FAX; 234-1-7740449, YOUR WE HAVE AND WRITE LETTERS OF CLAIM AND JOB THIS RESPECTIVELY. THIS WAY WE WILL USE AGREED TO SHARE THE RE-AWARD THE THUS; COMPANYS NAME TO PAPER THE ABOVE INFORMATION WILL ENABLE US1. 20% COMPANYS NAME. ACCOUNT OWNER 2. 70% FOR US (THE OFFICIALS) 3. 10% TO BE IN YOUR FOR THEUSED IN SETTLING NUMBERS. I WILL SEND YOU DETAILED INFORMATION OF THIS PENDINGTHIS TRANSATION.HAVE HEARD FROM YOU.THE IT ISOF THIS WE ARE LOOKING FORWARD TO DOING THIS BUSINESS WITH YOU AND SOLICIT YOUR CONFIDENTIALITY IN LETTER USING THE ABOVE TEL/FAX TAXATION AND ALL LOCAL AND FOREIGN EXPENSES. PROJECT WHEN I PLEASE ACKNOWLEDGE RECEIPTFROMFAITHFULLY, YOURS THE 70% THAT WE WISH TO COMMENCE THE IMPORTATION BUSINESS. DR CLEMENT OKONNOTE;PLEASE, NOTE THAT THIS TRANSACTION IS 100% SAFE…” PLEASE QUOTE THIS REFERENCE NUMBER (VE/S/09/99) IN ALL YOUR RESPONSES. “Angel Investments and Email Scams” ©2011 Tech Coast Angels
  • The “Proposition”… FROM: OKONNOTE@NIGERIAN-419-SCAM.COM> TO: ANGEL@ANGELINVESTOR.COM SUBJECT: REQUEST FOR URGENT BUSINESS RELATIONSHIP FIRST, I MUST SOLICIT YOUR STRICTEST CONFIDENCE IN THIS TRANSACTION. THIS IS BY VIRTUE OF ITS NATURE AS BEING UTTERLY CONFIDENTIAL AND TOP SECRET. I AM SURE AND HAVE CONFIDENCE OF YOUR ABILITY AND RELIABILITY TO PROSECUTE A TRANSACTION OF THIS GREAT MAGNITUDE INVOLVING A PENDING TRANSACTION REQUIRING MAXIMUM CONFIDENCE. WE ARE TOP OFFICIAL OF THE FEDERAL GOVERNMENT CONTRACT REVIEW PANEL WHO ARE INTERESTED IN IMPORATION OF GOODS INTO OUR COUNTRY WITH FUNDS An angel pitch might offer an unbelievable return on your WHICH ARE PRESENTLY TRAPPED IN NIGERIA. IN ORDER TO COMMENCE THIS BUSINESS WE SOLICIT YOUR ASSISTANCE TO ENABLE US TRANSFER INTO YOUR ACCOUNT THE SAID TRAPPED FUNDS. investment (ROI): THE SOURCE OF THIS FUND IS AS FOLLOWS; DURING THE LAST MILITARY REGIME HERE IN NIGERIA, THE GOVERNMENT OFFICIALS SET UP COMPANIES AND AWARDED THEMSELVES CONTRACTS WHICH WERE GROSSLY OVER-INVOICED IN VARIOUS MINISTRIES. THE PRESENT CIVILIAN GOVERNMENT SET UP A CONTRACT REVIEW PANEL AND WE HAVE IDENTIFIED A LOT OF INFLATED CONTRACT FUNDS WHICH ARE PRESENTLY FLOATING IN THE CENTRAL BANK OF NIGERIA READY FOR PAYMENT. HOWEVER, BY VIRTUE OF OUR POSITION AS CIVIL SERVANTS AND MEMBERS OF THIS PANEL, WE CANNOT ACQUIRE THIS MONEY IN OUR NAMES. I HAVE THEREFORE, BEENA HUGE market opportunity: just 1% means $100M in revenue! DELEGATED AS A MATTER OF TRUST BY MY COLLEAGUES OF THE PANEL TO LOOK FOR AN OVERSEAS PARTNER INTO WHOSE ACCOUNT WE WOULD TRANSFER THE SUM OF US$21,320,000.00(TWENTY ONE MILLION, THREE HUNDRED AND TWENTY THOUSAND U.S DOLLARS). HENCE WE ARE WRITING YOU THIS LETTER. WE HAVE AGREED TO SHARE THE MONEY THUS; 1. 20% FOR THE ACCOUNT OWNER 2. 70% FOR US (THE OFFICIALS) 3. 10% TO BE USED IN SETTLING TAXATION AND ALL LOCAL AND FOREIGN EXPENSES. ITWith an investment now we anticipate 100X exit in 3 years! IS FROM THE 70% THAT WE WISH TO COMMENCE THE IMPORTATION BUSINESS.This is DISRUPTIVE TECHNOLOGY in a BLUE OCEAN market! PLEASE,NOTE THAT THIS TRANSACTION IS 100% SAFE AND WE HOPE TO COMMENCE THE TRANSFER LATEST SEVEN (7) BANKING DAYS FROM THE DATE OF THE RECEIPT OF THE FOLLOWING INFORMATIOM BY TEL/FAX; 234-1-7740449, YOUR COMPANYS SIGNED, AND STAMPED LETTERHEAD PAPER THE ABOVE INFORMATION WILL ENABLE US WRITE LETTERS OF CLAIM AND JOB DESCRIPTION RESPECTIVELY. THIS WAY WE WILL USE YOUR COMPANYS NAME TO APPLY FOR PAYMENT AND RE-AWARD THE CONTRACTWe CAN’T FAIL! IN YOUR COMPANYS NAME. WE ARE LOOKING FORWARD TO DOING THIS BUSINESS WITH YOU AND SOLICIT YOUR CONFIDENTIALITY IN THIS TRANSATION. PLEASE ACKNOWLEDGE THE RECEIPT OF THIS LETTER USING THE ABOVE TEL/FAX NUMBERS. I WILL SEND YOU DETAILED INFORMATION OF THIS PENDING PROJECT WHEN I HAVE HEARD FROM YOU. YOURS FAITHFULLY, DR CLEMENT OKONNOTE; PLEASE QUOTE THIS REFERENCE NUMBER (VE/S/09/99) IN ALL YOUR RESPONSES. “Angel Investments and Email Scams” ©2011 Tech Coast Angels
  • The “Close”… FROM: OKONNOTE@NIGERIAN-419-SCAM.COM> TO: ANGEL@ANGELINVESTOR.COM SUBJECT: REQUEST FOR URGENT BUSINESS RELATIONSHIP FIRST, I MUST SOLICIT YOUR STRICTEST CONFIDENCE IN THIS TRANSACTION. THIS IS BY VIRTUE OF ITS NATURE AS BEING UTTERLY CONFIDENTIAL AND TOP SECRET. I AM SURE AND HAVE CONFIDENCE OF YOUR ABILITY AND RELIABILITY TO PROSECUTE A TRANSACTION OF THIS GREAT MAGNITUDE INVOLVING A PENDING TRANSACTION REQUIRING MAXIMUM CONFIDENCE. An email-scam will end with “the close”: WE ARE TOP OFFICIAL OF THE FEDERAL GOVERNMENT CONTRACT REVIEW PANEL WHO ARE INTERESTED IN IMPORATION OF GOODS INTO OUR COUNTRY WITH FUNDS WHICH ARE PRESENTLY TRAPPED IN NIGERIA. IN ORDER TO COMMENCE THIS BUSINESS WE SOLICIT YOUR ASSISTANCE TO ENABLE US TRANSFER INTO YOUR ACCOUNT THE SAID TRAPPED FUNDS. THE SOURCE OF THIS FUND IS AS FOLLOWS; DURING THE LAST MILITARY REGIME HERE IN NIGERIA, THE GOVERNMENT OFFICIALS SET UP COMPANIES AND AWARDED“WE ARE LOOKING FORWARD TO DOING THIS BUSINESS WITH YOU THEMSELVES CONTRACTS WHICH WERE GROSSLY OVER-INVOICED IN VARIOUS MINISTRIES. THE PRESENT CIVILIAN GOVERNMENT SET UP A CONTRACT REVIEW PANEL AND WE HAVE IDENTIFIED A LOT OF INFLATED CONTRACT FUNDS WHICH ARE PRESENTLY FLOATING IN THE CENTRAL BANK OF NIGERIA READY FOR PAYMENT.AND SOLICIT YOUR CONFIDENTIALITY IN THIS TRANSATION. PLEASE HOWEVER, BY VIRTUE OF OUR POSITION AS CIVIL SERVANTS AND MEMBERS OF THIS PANEL, WE CANNOT ACQUIRE THIS MONEY IN OUR NAMES. I HAVE THEREFORE, BEEN DELEGATED AS A MATTER OF TRUST BY MY COLLEAGUES OF THE PANEL TO LOOK FOR AN OVERSEAS PARTNER INTO WHOSE ACCOUNT WE WOULD TRANSFER THE SUM OFACKNOWLEDGE THE RECEIPT OF THIS LETTER USING THE ABOVE US$21,320,000.00(TWENTY ONE MILLION, THREE HUNDRED AND TWENTY THOUSAND U.S DOLLARS). HENCE WE ARE WRITING YOU THIS LETTER. WE HAVE AGREED TO SHARE THE MONEY THUS; 1. 20% FOR THE ACCOUNT OWNER 2. 70% FOR US (THE OFFICIALS) 3. 10% TO BE USED IN SETTLING TAXATION AND ALL LOCAL AND FOREIGN EXPENSES. IT IS FROM THE 70% THAT WE WISH TO COMMENCE THE IMPORTATION BUSINESS.TEL/FAX NUMBERS. I WILL SEND YOU DETAILED INFORMATION OF PLEASE,NOTE THAT THIS TRANSACTION IS 100% SAFE AND WE HOPE TO COMMENCE THE TRANSFER LATEST SEVEN (7) BANKING DAYS FROM THE DATE OF THE RECEIPT OFTHIS PENDING PROJECT WHEN I HAVE HEARD FROM YOU.” THE FOLLOWING INFORMATIOM BY TEL/FAX; 234-1-7740449, YOUR COMPANYS SIGNED, AND STAMPED LETTERHEAD PAPER THE ABOVE INFORMATION WILL ENABLE US WRITE LETTERS OF CLAIM AND JOB DESCRIPTION RESPECTIVELY. THIS WAY WE WILL USE YOUR COMPANYS NAME TO APPLY FOR PAYMENT AND RE-AWARD THE CONTRACT IN YOUR COMPANYS NAME. WE ARE LOOKING FORWARD TO DOING THIS BUSINESS WITH YOU AND SOLICIT YOUR CONFIDENTIALITY IN THIS TRANSATION. PLEASE ACKNOWLEDGE THE RECEIPT OF THIS LETTER USING THE ABOVE TEL/FAX NUMBERS. I WILL SEND YOU DETAILED INFORMATION OF THIS PENDING PROJECT WHEN I HAVE HEARD FROM YOU. YOURS FAITHFULLY, DR CLEMENT OKONNOTE; PLEASE QUOTE THIS REFERENCE NUMBER (VE/S/09/99) IN ALL YOUR RESPONSES. “Angel Investments and Email Scams” ©2011 Tech Coast Angels
  • The “Close”… FROM: OKONNOTE@NIGERIAN-419-SCAM.COM> TO: ANGEL@ANGELINVESTOR.COM SUBJECT: REQUEST FOR URGENT BUSINESS RELATIONSHIP FIRST, I MUST SOLICIT YOUR STRICTEST CONFIDENCE IN THIS TRANSACTION. THIS IS BY VIRTUE OF ITS NATURE AS BEING UTTERLY CONFIDENTIAL AND TOP SECRET. I AM SURE AND HAVE CONFIDENCE OF YOUR ABILITY AND RELIABILITY TO PROSECUTE A TRANSACTION OF THIS GREAT MAGNITUDE INVOLVING A PENDING TRANSACTION REQUIRING MAXIMUM CONFIDENCE. An angel pitch will end with “the close”: WE ARE TOP OFFICIAL OF THE FEDERAL GOVERNMENT CONTRACT REVIEW PANEL WHO ARE INTERESTED IN IMPORATION OF GOODS INTO OUR COUNTRY WITH FUNDS WHICH ARE PRESENTLY TRAPPED IN NIGERIA. IN ORDER TO COMMENCE THIS BUSINESS WE SOLICIT YOUR ASSISTANCE TO ENABLE US TRANSFER INTO YOUR ACCOUNT THE SAID TRAPPED FUNDS. THE SOURCE OF THIS FUND IS AS FOLLOWS; DURING THE LAST MILITARY REGIME HERE IN NIGERIA, THE GOVERNMENT OFFICIALS SET UP COMPANIES AND AWARDED THEMSELVES CONTRACTS WHICH WERE GROSSLY OVER-INVOICED IN VARIOUS MINISTRIES. THE PRESENT CIVILIAN GOVERNMENT SET UP A CONTRACT REVIEW PANEL AND WE HAVE IDENTIFIED A LOT OF INFLATED CONTRACT FUNDS WHICH ARE PRESENTLY FLOATING IN THE CENTRAL BANK OF NIGERIA READY FOR PAYMENT.Ready to invest NOW? HOWEVER, BY VIRTUE OF OUR POSITION AS CIVIL SERVANTS AND MEMBERS OF THIS PANEL, WE CANNOT ACQUIRE THIS MONEY IN OUR NAMES. I HAVE THEREFORE, BEEN DELEGATED AS A MATTER OF TRUST BY MY COLLEAGUES OF THE PANEL TO LOOK FOR AN OVERSEAS PARTNER INTO WHOSE ACCOUNT WE WOULD TRANSFER THE SUM OFWe’re open for any questions … US$21,320,000.00(TWENTY ONE MILLION, THREE HUNDRED AND TWENTY THOUSAND U.S DOLLARS). HENCE WE ARE WRITING YOU THIS LETTER. WE HAVE AGREED TO SHARE THE MONEY THUS; 1. 20% FOR THE ACCOUNT OWNER 2. 70% FOR US (THE OFFICIALS) 3. 10% TO BE USED IN SETTLING TAXATION AND ALL LOCAL AND FOREIGN EXPENSES. IT IS FROM THE 70% THAT WE WISH TO COMMENCE THE IMPORTATION BUSINESS. PLEASE,NOTE THAT THIS TRANSACTION IS 100% SAFE AND WE HOPE TO COMMENCE THE TRANSFER LATEST SEVEN (7) BANKING DAYS FROM THE DATE OF THE RECEIPT OF THE FOLLOWING INFORMATIOM BY TEL/FAX; 234-1-7740449, YOUR COMPANYS SIGNED, AND STAMPED LETTERHEAD PAPER THE ABOVE INFORMATION WILL ENABLE US WRITE LETTERS OF CLAIM AND JOB DESCRIPTION RESPECTIVELY. THIS WAY WE WILL USE YOUR COMPANYS NAME TO APPLY FOR PAYMENT AND RE-AWARD THE CONTRACT IN YOUR COMPANYS NAME. WE ARE LOOKING FORWARD TO DOING THIS BUSINESS WITH YOU AND SOLICIT YOUR CONFIDENTIALITY IN THIS TRANSATION. PLEASE ACKNOWLEDGE THE RECEIPT OF THIS LETTER USING THE ABOVE TEL/FAX NUMBERS. I WILL SEND YOU DETAILED INFORMATION OF THIS PENDING PROJECT WHEN I HAVE HEARD FROM YOU. YOURS FAITHFULLY, DR CLEMENT OKONNOTE; PLEASE QUOTE THIS REFERENCE NUMBER (VE/S/09/99) IN ALL YOUR RESPONSES. “Angel Investments and Email Scams” ©2011 Tech Coast Angels
  • With Email Scam or Angel Investment……more seriously, the key is “diligence” or “due diligence”:Most opportunities are not unique -- there is competitionDon’t let the threat of other investors pending influence youVerify references; spend time and become comfortable with teamValidate market data, have team set reasonable expectationsNOTHING is ever CERTAIN -- plan for the worst case scenarioMost deals have follow-on opportunities for investment laterWorst case: there is always another investment opportunity downthe road… “Angel Investments and Email Scams” ©2011 Tech Coast Angels
  • Who are the Tech Coast Angels?Tech Coast Angels, www.techcoastangels.com , the largest angel investornetwork in the United States, provides funding and guidance to moreearly‐stage, high‐growth companies in Southern California than any otherinvestment group. Since its inception in 1997, TCA members have focused onbuilding valuable companies, personally invested more than $100M, andhelped portfolio companies attract more than $1B in additional capital, mostlyfrom venture capital firms.TCA members give companies more than just capital; they also providecounsel, mentoring and access to an extensive network of potential investors,customers, strategic partners and management talent.TCA has more than 300 members, including its venture capital affiliates, in fivenetworks in Los Angeles, Orange County, San Diego, Westlake/Santa Barbaraand the Inland Empire. “Angel Investments and Email Scams” ©2011 Tech Coast Angels