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FIB - Scams 101 - Ye Olde Archives
Posted By: phillyflash In Response To: Ex-husband waiting for his ship to come in..... (MaaMaw)
Thursday, 9 February 2006, at 9:26 p.m.
Is this still going on? Your message rang a loud bell in my otherwise empty noggin!
I recall back in the early 80's, I had a set of books, "the poor man's way to riches" originally published in '78. Each book contained dozens of money-making ideas, one of them was HOW TO MAKE $30,000 MONTHLY OPERATING AN OIL LEASE LOTTERY SERVICE. The Federal oil lease lotteries are producing big profits for at least the government. They make a couple of million dollars a month from speculators hoping to win an oil lease from the government. The leases are available to all American citizens through a simple, inexpensive monthly lottery administered by the BLM in the 11 westernmost states. The leases, which range in price from roughly $20 for a 40 acre tract to $1,280 for 2,560 acres (which is the largest permissible lease), are available through a drawing held monthly by the BLM. The entry fee is just $10 (at least it was decades ago). The ultimate return can be over $1 million. It is this chance of a large return that draws in the thousands of entries each month from interested speculators. Actually, most leases are worth considerably less than $1million and quite a few are worth nothing at all. The government only allows citizens to apply for leases on land the BLM believes HAS NO GAS OR OIL under it! If they suspect there is an oil or gas deposit, that land is put up in a separate auction by competitive bid. So it appears the government is running one big con game by taking in millions of dollars from land they are convinced has no value. The only reason people participate in this lottery is because OCCASIONALLY oil and gas deposits are found on the land and the story receives wide publicity. Also, according to the book, (back in the latter 70's) there was one firm in the southwest filing a minimum of 4000 lottery entry cards a month for clients at $10 each (in addition to the $10 fee to the Bureau of Land Management). What these businesses do, or did, was offer their clients a list of recommended leases which are sent in advance of the BLM posting of available leases. The client chooses the leases on which to file, then sent the money to the service.
These services as I recall used to run big space and classified ads in the enquirer and popular mechanics type magazines.
Bottom line, it's just a big gamble. The sure thing is running the "service".
p.s. I can send you a few pages of more info if you'd like, Maw.
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