Saw this for the first time on TV today…
The reality of the auction fraud case involving K-Net Electric.
First, take a look at these links.
k_net_inc (suspended)
exposure_speed (suspended)
The first is the official auction store account; the second appears to be another ID that may have also been used for fraudulent activity.
The typical pattern for this kind of auction fraud:
· Spend about a month conducting normal, legitimate transactions to build up feedback ratings.
· Then one day, list a huge volume of items and begin the fraud.
This is a well-known pattern. By the time buyers have transferred payment and are waiting for their items to arrive, suspicions start to grow — and when they check the feedback, it’s turned into a disaster.
That seems to be exactly what happened here.
Even an official auction store can run a scheme like this — it’s a reminder to be careful when using auctions.