Personal Finance & Money Asked on June 5, 2021
My father recently received an email from the Egea Trust, offering essentially £500 cash in exchange for generic information about his offspring.
The link in the email which points to an email list domain (eagatrust.us8.list-manage.com) and searches on google both end up going to the same place; Eaga Trust. The Trust is something my Dad is already a member of, and they’ve previously paid out cash in the past that seem to be just about distributing funds to members.
In short, it does not appear to be a scam, but I’m struggling to find out why the Trust believes the information is worth £500 per child.
It seems from their history page that the Trust has a lot of money to use to benefit its members and their descendants. Membership stems from having worked for the Eaga company at some point in the past, because the founder set it up to have significant employee ownership. When the company was ultimately sold, this ownership turned into a general pool of assets.
The request itself is repeated here and seems legitimate overall. I would guess that they would really like to keep track of children (and perhaps ultimately descendants) of current members so they are aware of who is entitled to the Trust's benefits. On the assumption they do have a lot of money to spare, this is both a way to give some of it out and guarantee a pretty high response rate which will help them work well in the future, i.e. give out more money :-).
Correct answer by GS - Apologise to Monica on June 5, 2021
The topic of this being a scam is well covered in the other answer, it appears legitimate.
In terms of why this information is "worth" that amount to them, it could be that the trust has determined the average cost of locating descendants of it's members exceeds £500 per child.
Assuming the trust has an obligation to continue paying out amounts to descendants indefinitely, or is required to take some other predefined action relating to children of trust members when the primary trust member passes away, it would be a significant undertaking to locate children of members if no such information is ever provided to the trust.
So in that case, paying the £500 per child to get an authoritative list from the vast majority of their members now would actually be protecting the value of the trust over the long term.
Answered by Cameron Roberts on June 5, 2021
Get help from others!
Recent Answers
Recent Questions
© 2024 TransWikia.com. All rights reserved. Sites we Love: PCI Database, UKBizDB, Menu Kuliner, Sharing RPP