Post
Topic
Board Service Discussion
Re: Is escrowing for yourself using a secret alt OK?
by
rebuilder
on 13/09/2015, 22:26:50 UTC
An "escrow scam" is where one party receives money into "escrow" (while being the escrow) and then fails to deliver the agreed upon goods. Is there someone that is claiming this happened to?

Jumping back here a little to poke holes in this argument. The above is like saying a ponzi scheme is only a scam once it stops paying out. That's nonsense. Leading trade partners to believe their investment is insured by a third party (the definition of escrow, after all) while posing as that third party is a scam. Charging fees for escrow when not providing the security of escrow is definitely a scam. If no-one got badly burnt yet by having the escrow provider unjustly settle a dispute in favour of himself, that's just because it didn't happen yet. Just like with a ponzi scheme.

A scam is a scam all along, it doesn't just turn into one when people find out about it.