£500K Premium Event Ticket Scam On eBay | Ramblings of an e-trader

Thursday 11 June 2009

£500K Premium Event Ticket Scam On eBay

The Sun UK ran a news report today where at least 3000 people bought event tickets from an eBay Seller with the ID M-T Promotions. Since this is a scam report, obviously the tickets were not received. The man behind M-T Promotions, someone by the name of Martin Thorne is said to have raked in more that £500,000 from this operation and even achieved the eBay status of Powerseller. I guess this title came in handy into making more people trust the seller and believe in his products.

It is said that Martin Thorne wrote to his buyers explaining that his eBay account was frozen by eBay due to an issue with PayPal and that they should claim back their money from eBay. Obviously this doesn't work that way.

eBay is said to have already lodged a police report and investigations on this biggest eBay fraud are underway. This is yet another justification for eBay to hold our PayPal funds for up to 21 days.

Premium tickets are big business in the online marketplace. Fans are willing to fork out a few times more than face value of tickets and normally, when people buy tickets, they would buy in pairs. I have no problems with people paying an arm and a foot for tickets. Whether it's worth the price is not for us to judge but I think we must be extra vigilant when buying these tickets online and not through official ticketing agents. Our hard earned money could easily go cold, just like the many victims here and in other similar online fraud cases.

Source: The Sun UK

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