Most banks take around five business days to transfer
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Most banks take around five business days to transfer

Megaomgchen, Basaria, Jharkhand, India Published date: October 11, 2021

Simply put, the victims believed that if you paid Calvin the sum of money, Rack would pay them back at a high interest rate. Raangee would get a 25 percent cut of the amount as the fee for recruiting. According to the FAQ, Rack usually sends a receipt that outlines the amount owed. The money arrives in seven to 14 business days due to his bank security.

"Most banks take around five business days to transfer funds, however Rack's bank is slower." Initial the people we spoke with claimed they had received payments from Rack. However, after a while, communications ended. Rack claims that many customers did not receive money. If they inquired regarding their money, fraudsters would make up excuses or just ignore the victims.

"We were supposed to get [the money] and it never happened. We waited over a month, and he made excuses, like his PayPal was in lock-down, etc. to buy more time," another victim reported to P.TV.

A 20-year-old Aussie who claims he has lost $5,000 and has since lodged a cybercrime report and sent screenshots of the chat with Raangee to P.TV. The screenshot shows Raangee persuading the victim to make an investment of $5,000 and promising him a return of $2,500. "Ofc it's true that for everyone, it's a bit scary sending money out," Raangee says to the victim. "But I'm at a stage that I'm comfortable with it now and I fully understand the concerns of first-timers."

"I know of at least 20-30 victims," a fourth victim, age 20, told P.TV. "I think Rack may owe at least $300,000. (And this is just the cases I've heard of). A number of my close acquaintances." Countless victims have come forward with similar stories, all of them claiming that Rack frequently used issues related to his bank and/or PayPal account to justify the reason to avoid making payments.

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