Global Discoveries LTD Exposed

Posted September 12th, 2007 by Joe Kaiser

That presumes, I guess, "forever" doesn't include tomorrow, which is about when the county's letter arrives, right on schedule.

Dear Rob,

You should know there’s a scam happening right under you nose.

Have you heard about Global Discoveries, LTD?

Global Discoveries, LTD
They do the “we’ve found your money” thing and in terms of a scam, I think what they do is off-the-charts sleazy.


How the scam works

The fraudsters monitor overages created at tax sales throughout the country.

Their agents attend auctions and whenever a significant overage occurs, they quickly send a letter to the former owner, letting him know he may be entitled to claim funds they’ve “discovered.”

Of course, they don’t tell him where the money is because if he knew, he wouldn’t need them. That’s not the scam part.

What is a scam, clearly, is their business model.

They know counties will be attempting to contact these same owners shortly and letting them know to come on down and claim their money.


The race is on

So what does Global Discoveries LTD do?

They race to beat the county’s letter.

They understand their services won’t be needed once the former owner hears from the county so they rush their letters out in an attempt to get people signed up before the county has a chance to make contact.

What happens next?

You get this letter from Global Discoveries LTD, agree to split the money with them, and the very next day you hear from the county telling you how to claim the money yourself.

And now you’re stuck owing Global Discoveries LTD a big part of that money (up to 50%, I think).

Scam?

You tell me.


lost forever

My favorite part?

Their website proclaims . . .

Without our assistance the funds would have been lost forever!— Global Discoveries, LTD

That presumes, I guess, “forever” doesn’t include tomorrow, which is about when the county’s letter arrives, right on schedule.

So you see, Rob, this is how you work an “overage play” scam.

Just figure out who’s supposed to get the money and sign him up on a 50/50 split deal before the county has a chance to let him know about it.


class action suit

According to their website “millions of dollars” have been recovered.

Former clients who’ve paid them a big percentage of their overages, not knowing the county would be contacting them soon after they signed up should be looking for a way to get their money back.

Hopefully, Global Discoveries, LTD sues me as a result of this post and I’ll have the opportunity to round up everyone they’ve scammed and fire back with a class action suit. I’ll let you know if and when I’m served.

In the meantime, Rob, if ever there was an unfair and deceptive business practice that needs to come to an end, this would be it.

Pretty crazy, eh?

Respectfully,

Joe Kaiser


11 Responses to: “Global Discoveries LTD Exposed”

  1. Gray responds:
    Posted: September 16th, 2007 at 7:42 am

    Good idea to point this out, Joe! There ARE real fraudsters who deserve hard scrutiny from the prosecutors. Where are the bold statements by the AG’s office on this case?
    :-/

  2. Andrew Katakis responds:
    Posted: September 25th, 2007 at 5:02 pm

    Joe:

    Interesting site. Can you please call me as I am not sure why you are doing this again and posting such things. I don’t believe we have crossed paths for a while.

    Andrew

    209-593-3901

  3. Andrew responds:
    Posted: September 25th, 2007 at 5:10 pm

    Whom ever reads this kind of stuff should not pay attention to it. I am not sure the reason for such lies and I don’t know why Mr. Kaiser needs to lie on his site. Our company has been in business many years and has great track record. We have hundereds of customer surveys from satisified clients. We are honest, disclose the facts and help people. We have never had any issue with the law because we comply with the law.

    I believet that people should look into this site more before they listen to such statements by a person who seems to have an issue with a company such as Global.

    If this posting is taken off you will know why. Most people don’t like to hear the truth.

  4. P. E. responds:
    Posted: June 7th, 2009 at 6:35 pm

    Think Joe may be on to something here – think there is something VERY fishy about one of their employees – David Halper.

  5. Tammy responds:
    Posted: December 3rd, 2009 at 5:55 pm

    It usually only takes one bad egg to ruin it for everyone.

    Be in one unethical, greedy employee in the company to spoil their reputation or one bad company to hinder all others trying to operate a similar business with integrity and decency. Hard to imagine one person within a company working this strategy without it coming to the attention of others though.

    Whichever it is, perhaps be very cautious if you get a call or a letter from Global Discoveries.

  6. Floating Shelves responds:
    Posted: December 22nd, 2010 at 2:46 pm

    i hate scams wheter it is offline scam or online scams, there are lots of it these days **,

  7. Jayme responds:
    Posted: June 4th, 2011 at 12:49 pm

    I think it’s funny that this is attempted to be covered up by one of the guys posting, obviously someone working for them, and yet 4 years later it’s still posted. What’s that tell you? Props to Joe Kaiser for bringing this to people’s attention!

    And shame on the guy working for the shady company.

  8. X-man responds:
    Posted: December 14th, 2011 at 11:42 pm

    Did anyone see this ?

    http://www.modbee.com/2011/12/13/1986294/modesto-real-estate-investor.html

    AND this,

    http://www.news10.net/news/article/167854/2/5-arrested-in-bid-rigging-scam

  9. Annie responds:
    Posted: June 11th, 2012 at 7:28 am

    Global Discovery just contacted my 97 year old father concerning “lost” money owed to him. They even sent a Notary to my parents house with papers to be signed. Of course, I am wary of a possible scam and do plan to have my lawyer look over these papers before my father signs any thing. I would appreciate any information other people have concerning this company. Thank you.

  10. Jon S responds:
    Posted: July 29th, 2012 at 10:52 am

    Global did discover for me money from a tax sale in Elko Co. NV. 1 week prior to closing date and default of same to County Treasurer. I thought the same about a scam and contacted Elko Co. They were irritated that I found out the tax sale date and that they had to pay me. They admitted they had no intention of notifying me and were hoping the date of forfiture would pass. Global did what they advertised; I thought their commission was steep though I did get a substantial payout. Sorry.

  11. luvchild1969@yahoo.com responds:
    Posted: September 6th, 2012 at 12:54 pm

    I fail to see how this business is a scam.

    The county sends the notice from the tax sale excess proceeds to the last known address from the owner. Obviously, the former owner doesn’t live at the foreclosed property anymore, so they never receive the notice that they have unclaimed funds owed to them.

    IMPORTANT POINT: If the formed owner doesn’t claim their funds within a year from the tax sale date, the county gets to keep ALL the money including the interest it’s been accruing while the money has been sitting in a government bank account.

    So really, people should be thankful for asset recovery firms; because if they weren’t in business, people would be less likely to get any of the money owed to them by the county in the first place.

    Asset recovery businesses simply track the former owners down and ask them if they want them to process the claim for them. People are under no obligation to use these services. If the funds were easily found people would locate and file the claims for themselves.

    Of course the asset recovery business will want a percentage of the claim. The asset recovery firm should get paid for the work that they do. That’s just fair and business is business. There’s noth unethical or unlawful about this business model.

    Note these asset recovery businesses don’t get paid upfront, they make money on contigency. They don’t get paid unless the claim is approved.


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