Readers Magnet Scam
Here are some links to help you make an informed decision about book fairs and book publishing companies like Readers Magnet before deciding to part with your cash.
This blog collects a list of public resource links in one place, as well as tips for how to deal with the situation if you find yourself scammed.
Dozens of authors have also used this place to comment and share their own experiences with Readers Magnet, including cheering in the background as someone in the call center makes a new sale.
Some have contacted me privately through my Form Submission, which makes it harder to share tips with the larger community. For example, one writer said that it seems they may be targeting new Twitter accounts as a different variation of the scam and inviting authors to promote their books “free of charge” on their website’s Author Lounge as the initial hook.
Don’t be fooled. Do your own research and make an informed choice.
My Experience
Scammers have been targeting authors for a long time. 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 for display. 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 over the years.
Useful Resources
If you’re looking for resources for avoiding scammers or other experiences with Readers Magnet, here are some links:
Ripoff Reports – Readers Magnet
https://www.ripoffreport.com/reports/specific_search/READERS+MAGNET
Other Stories and Resources for Research
https://victoriastrauss.com/2018/01/25/army-of-clones-author-solutions-spawns-a-legion-of-copycats/
https://www.janefriedman.com/dont-pay-for-bea/
https://milled.com/bookbaby/watch-out-for-the-slimeball-fraudsters-oMCE1iVBW2vBiqS4
https://annerallen.com/2019/06/1-mistake-vulnerable-publishing-scams/
https://justpublishingadvice.com/publishing-companies-to-avoid-and-nasty-new-author-scams/
http://www.scamion.com/readersmagnet-49
https://www.goodreads.com/topic/show/18715656-anyone-here-ever-contacted-by-readersmagnet
https://www.kboards.com/index.php?topic=262483.0
https://thestoryreadingapeblog.com/2018/02/03/dont-get-scammed-by-companies-like-readers-magnet/
https://accrispin.blogspot.com/2018/07/how-predatory-companies-are-trying-to.html
https://absolutewrite.com/forums/showthread.php?329269-Marketing-ReadersMagnet
https://davidgaughran.com/2019/09/12/combined-book-exhibit-author-scams-new-title-showcase/
https://www.combinedbook.com/book-promotion-services/marketing-scams-false-promises.html
https://www.pissedconsumer.com/readersmagnet/RT-F.html
Better Business Bureau:
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 $9,643.00. "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 scams like this one: https://consumer.ftc.gov/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 a Readers Magnet scam to share? I’d love to hear from you in the comments below.