At a time when US stock markets were making a sharp loss last Friday while the S&P 500 index falling at its worst since October last year, American businessman Jeff Bezos was making a fortune. By the end of last week, Bezos ‘fortune amounted to $124.2 billion, up $7.9 billion from Thursday. Amazon’s shares rose by 7.4% after quarterly results in the fourth quarter of last year that exceeded analysts’ expectations.
UN experts on Wednesday called for an investigation into the hacking and subsequent theft of private and confidential information from the cell phone of Amazon founder and president, Jeff Bezos. The phone was reportedly hacked after he received a WhatsApp video message from an account linked to Saudi crown Prince, Mohamed bin Salman.
Part I & II of our expose on Amazon fraud showed how it has become open season for companies listing fake Amazon reviews. After outlining the extent of the massive scam, we argued in detail how Amazon is providing and sanctioning the world’s biggest fraud with an estimated 25% fake reviews across the online retailer’s platform. Fakespot, a company that analyzes fake reviews, claims 30% of all reviews on Amazon are fake.
Now we want to describe how this rot at Amazon has metastasized.
In our first article we explained why Amazon, lead by Jeff Bezos, has or soon will pass Bernie Madoff as the largest beneficiary of the biggest dollar scam in history. We also reviewed how brazen the fake review market is for companies on the Amazon platform (we have not seen any fake reviews offered on Ebay or Walmart), and we highlighted four fake review farms. If you found it shocking that fake review providers are shamelessly and publicly selling their wares through websites, advertising, Twitter and on videos– then the next 11 companies we’re going to spotlight (bringing the total to 15) should prove how widespread this scam is. Remember Amazon and our government bragged about taking down a single fake review ring in 2016 that resulted in the shutdown of three merchants.
Amazon started a new service that shows Amazon Hot New Releases but Amazon is doing little to nothing to stop the massive amount of fake reviews on their site, even after having it documented for them. Fake reviews and fake companies receive a big bang and advantage from Amazon when launching new products, which we have demonstrated in several articles. Amazon is giving another asymmetric advantage to the fake review cheaters that also launch new products and get listed as Hot New Releases.
The collective wealth of the 500 richest people in the world suffered a gigantic loss in a single day after the escalation in the US-China trade war. According to news sources, the biggest tycoons lost 2.1% of their fortune on Monday, equivalent to the $110 billion, after the biggest stock market fall following China devaluing its currency, the yuan.
- Amazon to Walmart: U.S. retail giants woke up Thursday to yet another challenge from Amazon.com. Chief Executive Officer Jeff Bezos, this time with a call to match his company’s recent increase to a minimum wage of $15 per hour. “Do it! Better yet, go to $16 and throw the gauntlet back at us…It’s a kind of competition that will benefit everyone.”
The Numbing category on Amazon is rampant with fake reviews both positive and negative. Nowhere could we find a worse perpetrator than Ebanel Laboratories. After an in depth review of thousands of potentially false reviews, positive on their products, negative on their competitors, we filed a complaint to Amazon, and wrote an email directly to Jeff Bezos about Ebanel.
Amazon emailed us back on March 26th 2019.