Two Bikes, Spare Engines, Spare Parts And A Fake $30,000 "Cashier's Check"?

heck yes...

 

:up:

 

"Roadracing World Provides Junges with Happy Ending"

 

Very glad to hear the bikes and spares were recovered!!!

 

x's 2

 

Congrats to all involved on not only recovering the stolen goods but assisting in the arrest of a serial thief! Extra props to John @ RRW for posting updates for the world to see.

 

Now that the bikes are almost home, are the charges being thrown on to what Liver Lips has been charged with? I don't want that scum bag seeing the outside of jail until he's too old to steal so much as air.

 

Very cool. Nice job all involved!

 

Awesome to hear!

 

What, the classifieds aren't free anymore, when did this happened?? I better start another thread about it.

Good to hear the bikes have been recovered.

David

 

That dude was BEEB slapped
Awesome news

 

Very good news that all property have been recovered,we just had a neighbor's pick up stolen Monday night.Hope that gets a recovery as well.

 

Word!

 

Great to hear!! I hope that guy gets put in a cell under the prison. One that has a big, muscled up guy that just loves fresh meat. Glad you got your gear back.

 

I'm sorry it happened and I hope the sack of shit goes to Federal Pound Me in the Ass Prison, but when you consistently accept cashier's checks without proper controls it's something that WILL eventually happen.

It sounds like Vesrah needs to institute some better fraud controls. That doesn't mean subject longtime customers to the same rules as new customers, but it does mean only take cashier's checks based on a highly conservative risk assessment model that takes into account volume and frequency of transactions with the customer, length of business relationship, and whatever other factors you care to use.

Taking a cashier's check and sending the item before it has been completely verified is akin to offering them trade credit. Would you give someone $30,000 credit without completely vetting the person first?

PayPal and escrow services cost money, but the 3% or less you would give PayPal, $900, is far less than the cost of losing $30,000 worth of merchandise.

Let it be a lesson that anyone engaged in selling merchandise through the mail needs to do a thorough, competent risk assessment of their business practices. I'm sure there are risk management professionals out there who would happily and easily do it for a very reasonable fee.

Again, no offense to Mr. Junge, but these stories positively abound on the BBS, and every single person that was burned could have avoided it by paying the money beforehand to protect themselves.

Blindly trusting in that fact is how you get burned. You can definitely trust to a degree, but if you don't use some kind of consistent and rationally developed process to evaluate each and every transaction and buyer, this will happen eventually.

 

Read above. He got all his goods back.

 

Quoted for the good of the beeb.

 

Go back and actually read the thread. For one you can be ripped off with paypal, and theres even a story in there where this same guy was able to charge 1200 in merchandise to a fake credit card.

 

Actually, I did read the thread. I just didn't wade through all 10 pages of highly nuanced "I hope he's butt raped in prison" comments, mainly because I wanted to say something constructive other than "that sucks".

Nowhere did I say it was impossible to be ripped off with PayPal, but it can and does reduce the risk, especially in combination with vetting the customer. Everything I said still applies, you can and should apply risk management principles to a PayPal transaction. If a transaction can be reversed and the transaction is otherwise high risk, then obviously you wait until the payment has been 100% verified to ship the merchandise. The onus is on YOU for understanding how a particular transaction clears the bank, and the risks involved in such.

The bank is not responsible for educating you about check kiting, credit card fraud, and all the other wonderful scams out there.

There is zero excuse for not taking the time to understand how a financial transaction works, you literally have all the knowledge of humankind at your fingertips.

I'll guess that your reflexive emotional reaction is probably because you feel I have insulted Mr. Junge in some way. That's okay, and I expected an emotional reaction to my post. Do you think this might have been avoided had fraud controls and buyer vetting been in place? If not, why not? Was this guy a super duper financial scamming super genius?

Mr. Junge himself tacitly admitted that his methods were wrong by announcing a new policy on check clearance, is he wrong?



Your retort will surely be "it could happen anyway", the proper answer to that is that no transaction is 100% risk-free, but you can definitely reduce the risk to an acceptable level, or refuse the transaction as too high risk. When another story like this is posted on the beeb in 3 weeks, I'm sure we'll be able to find the same lack of fraud control in the seller's operations.

So, since you think I'm wrong, what better idea do you have for how sellers should protect themselves? Personal letters of reference? Psychic consultations?

If I'm wrong, then you ought to put yourself out there and state exactly how you think sellers should protect themselves.