Readers Magnet Scam

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Sadly, the top-ranked post on my website is not content about my YA novels but this one about the Readers Magnet scam. To help those authors seeking information about this Philippines-based outfit, I thought I’d collect a list of other links for people who continue coming here seeking information, as well as tips for how to deal with the situation if you find yourself scammed.

My Experience

On December 29, 2017, I received a call from someone from Readers Magnet, claiming that my wonderful, award-winning novel, Drive to June, had been selected by their talent scouts, and they wanted to partner with me for representation in the 2018 New York Rights Fair. They were extremely complimentary about my work. They knew that the book had won an award and that I’d written multiple novels. I let the person talk for a long time even though I was pretty sure it was a scam because I wanted to hear the pitch.

“As stated we will be the ones taking care of the other expenditures and all the legwork since we were the ones that found you, although you will be entitled to all of the proceeds and hoping that you would be able to continue the momentum that we will be setting for you and your book’s success. We aim to create publicity for our company through your book’s success.”

She was a woman named Ruby Baker with a strong accent. She was very smooth, asking about my goals for my writing career and what sorts of things I had done for self-promotion to date. At one point I clarified that she wasn’t seeking rights for the book or commissions on sales. She wanted some sort of fee, correct? It still took her awhile to get to the point where she wanted $600 for the registration fee for this show.

That's right: $600.

The amount would cover the publicity listing in the directory and the booth showing. They only needed one signed copy of my book. All other sales would be handled directly with me. This didn’t pass the sniff test.

After hanging up, I searched for this company and found a bunch of other complaints from authors who’ve been contacted by these scam artists.

Useful Resources

Don’t be fooled if you receive a call like this! You can find new analytics information about them in my blog article, Why Readers Magnet Should Fear Google and Facebook.

In addition, here are some other links to help you make an informed decision before parting with your own cash.

Ripoff Reports – Readers Magnet

https://www.ripoffreport.com/reports/specific_search/READERS+MAGNET

https://www.ripoffreport.com/reports/readers-magnet/nyc-new-york-10004/readers-magnet-literary-book-scout-wanted-450-to-market-my-book-which-they-said-came-hig-1364410

Other Stories

https://www.goodreads.com/topic/show/18715656-anyone-here-ever-contacted-by-readersmagnet

https://www.kboards.com/index.php?topic=262483.0

https://authorchristopherdschmitz.wordpress.com/2017/09/08/dont-get-scammed-by-companies-like-readers-magnet/

https://thestoryreadingapeblog.com/2018/02/03/dont-get-scammed-by-companies-like-readers-magnet/

https://absolutewrite.com/forums/showthread.php?329269-Marketing-ReadersMagnet

Better Business Bureau:

https://www.bbb.org/sdoc/business-reviews/digital-marketing/readersmagnet-in-san-diego-ca-172021180/reviews-and-complaints?section=complaints

Regarding ReadersMagnet LLC Publishing

During the week of August 31, 2018, someone named "Dee" posted a comment 3 times with links to a book that ReadersMagnet LLC published on Amazon and Barnes & Noble--presumably as "proof" that they are a legitimate outfit. However, this book has only 2 reviews, and one of the reviews seems to be a fake one with a post date from 2006. This is a real trick considering that the publication date on the book is March, 2018. There is no author presence on Google, although there is an author website listed through Amazon. Any digging at all quickly raised my suspicions.

What to Do If You Are Scammed

A US-based author contacted me to say that he'd been scammed out of $9643.00. "Any recommendations on how to get out of this?"

My suggestion is to search Google for consumer information on how to report and resolve international fraud and scams. Specifically, the US Federal Trade Commission has a Website for reporting International scam outfits like this one:  https://www.consumer.ftc.gov/blog/2015/10/reporting-international-scams

You can also visit this site: http://www.sec.gov.ph/, which is referenced from https://www.pinoymoneytalk.com/where-to-report-scammers-in-the-philippines/.

What about you? Do you have an experience with Readers Magnet to share? I'd love to hear from you.