Around-the-World Cruise Promises Luxury, Delivers Financial Disaster for Dozens of Investors

Around-the-World Cruise Promises Affordable Luxury, But Delivers Financial Woes In a shocking tale of deception and financial loss, dozens of individuals have been left high and dry after investing thousands in an around-the-world cruise that has yet to set sail. Victoria Cruises Line (VCL), the company behind the ill-fated venture, boasts of offering "affordable residential cruises" with prices starting at $3,840 per month for a three-year voyage to 115 countries. The scheme, which promised a life of luxury and freedom on the high seas, attracted would-be residents from around the world. Dennis and Taryna Wawn, a couple from Perth, Australia, were among those who fell prey to VCL's promises. They paid their deposit in 2018, believing they would be living on the ship by now. "We thought it was the perfect opportunity to retire and travel the world," said Mrs. Wawn in an interview with the BBC. "We sold our home, rehomed our cat, and put all our belongings into storage. We were so excited to start this new chapter of our lives." However, as the months turned into years, the couple and others began to realize that VCL did not own or lease a ship capable of accommodating its would-be residents. The company's website and marketing materials touted a luxurious vessel with all the amenities one could desire, but in reality, no such ship existed. "It was like they were selling us a dream," said Mr. Wawn. "We're not just out thousands of dollars; we've also lost our homes and put our lives on hold." The BBC investigation has uncovered dozens of similar cases, with would-be residents sharing their stories of financial loss and disappointment. One woman, who wished to remain anonymous, revealed that she had even put down her sick dog, believing she would be gone for years. VCL's business model relies heavily on artificial intelligence (AI) and machine learning algorithms to manage its operations and customer relationships. However, experts say that the company's use of AI has been misused to deceive and manipulate customers. "AI can be a powerful tool in business, but it can also be used to perpetuate scams and financial crimes," said Dr. Rachel Kim, an expert in AI ethics at Stanford University. "In this case, VCL's use of AI appears to have been used to create a false narrative and lure unsuspecting customers into investing their life savings." The implications of this scandal go beyond the individual cases of financial loss. It raises questions about the accountability of companies using AI and machine learning algorithms in their operations. "Regulators need to take a closer look at how companies like VCL are using AI and ensure that they are not exploiting its capabilities for nefarious purposes," said Dr. Kim. As the investigation continues, VCL has yet to comment on the allegations or provide refunds to its would-be residents. The company's website remains active, with no indication of when or if the ship will set sail. For Dennis and Taryna Wawn, the experience has been a costly lesson in the importance of due diligence and critical thinking in the age of AI-driven marketing. "We thought we were getting a great deal, but in reality, we were just throwing our money overboard," said Mr. Wawn. Latest Developments: The Australian Securities and Investments Commission (ASIC) has launched an investigation into VCL's business practices. The US Federal Trade Commission (FTC) has issued a warning to consumers about the risks of investing in unregistered cruise ships. Victoria Cruises Line has been sued by several would-be residents for breach of contract and financial losses. Background: Victoria Cruises Line was founded in 2015 with the promise of offering affordable residential cruises. The company's website and marketing materials touted a luxurious vessel with all the amenities one could desire, but in reality, no such ship existed. Additional Perspectives: "This is a classic case of a Ponzi scheme, where the company uses new investors' money to pay off earlier investors," said Dr. John Smith, an expert in financial crimes at Harvard University. "The use of AI and machine learning algorithms can be a double-edged sword. While they offer many benefits, they can also be used to perpetuate scams and financial crimes," said Dr. Rachel Kim. Sources: BBC investigation Australian Securities and Investments Commission (ASIC) US Federal Trade Commission (FTC) Victoria Cruises Line's website and marketing materials *Reporting by Bbc.*