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SWOOPO FRAUDULENT BUSINESS "MODEL":
Swoopo call themselves an "Auction" site and the "Entertainment shopping" but their operation is misleading at best and fraudulent at worst. They play Superman and therein lies a Catch-22 in their scam!! Swoopo turns the clock back all the time!! They keep RESETTING the clock as the auction goes!! Take a look at the three screen shots we took from one auction:
- 8:48:17 PM Auction ID: 237995 at $155.04 has a flashing message that says "Just a few seconds to go!" (00:00:03) so people rush to bid:
- 8:55:20 PM Auction ID: 237995 at $160.02 has a a flashing message that says "Just a few seconds to go!" (00:00:04) so people rush to bid again,
8:57:58 PM Auction ID: 237995 at $170.64 has the time reset once again to 00:01:06 and this goes on and on until they reach their profit point I guess and until all the bidders lose quite a bit!! Actually you can figure out how many bids are made from just looking at the total price. Swoopo PENNY auctions are the pinacle of a fraud. Watcan item go for around $750.00, which is 75,000 bids, at the new $0.75 per bid price how much is Swoopo making on this $2000.00 ATV??? You take the 75,000 bids times $0.75 per bid plus the $750.00 final price minus the $2,000.00 value and you get a $55,000.00 in Swoopo’s pocket pure profit after all is said an done. The should ship the item free at that but don’t, the bidder has to pay shipping too.
At 9:30:15 PM the Auction ID: 237995 was still running as "00:01:58 left:, "Just a few seconds to go" flashes again so the people can rush to bid, with a current bid at $183.72!! We've seen the clock reset for 20 minutes on another auction.
They also defraud customers by forcing them to purchase bids in advance / no refunds offered /
If its a raffle/ lottery / gambling scheme and it is then they ought to label it as such and NOT as an auction. Otherwise, its problematic not just from a legal standpoint (at least in the US) but also from a customer standpoint. Such scamming MUST be examined by the Federal Trade Commision and some brakes must be put to the companies that play on human naiveté and scam them out of their hard earned money.
INTERNET CRIME COMPLAINT CENTER @ http://www.ic3.gov/default.aspx
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