Investment Psychology | Investor's Watchblog

What does a scam artist look like?

On April 15, 2013, in Baby Boomers, Investment Advisers, Investment Psychology, Investor Protection, Scams, by IW Dog

The only way you can learn to spot a scam artist is to become educated about financial fraud.

A scam artist is not easy to spot. Here is another video installment from Page Perry, LLC on how to spot a scam artist.

http://www.pageperry.com/what-a-scam-artist-looks-like-video/

“Investments Sold Through Free Lunch Seminar Turned Out to be a Ponzi Scheme”

On October 18, 2012, in AARP, Aging Parents, Baby Boomers, California, Estates, Illinois, Investment Advisers, Investment Psychology, Investor Protection, Investors at Risk, Ponzi schemes, Private Placement, Promissory Notes, Recently Divorced, Retirees, Sales Practice Abuses, Scandals, Senior Citizens, Uncategorized, private placement, by IW Dog

“The men allegedly conducted estate planning seminars, aimed primarily at retirees …, and sold promissory notes for investments in Turkish bonds to “individuals with substantial savings….”

“As through this world you wander you’ll see lots of funny men, some will rob you with a six gun and some with a fountain pen” (Woody Guthrie, Pretty Boy Floyd, 1939).

“Free lunch” seminars are a favorite tactic used by today’s fountain pen robbers who target mostly elderly retirees with substantial assets. They know that audience members are unlikely to be vigilant investors looking for fraud or they would not be there in the first place. Unfortunately, many audience members come there looking for someone to trust. That is often their first and fatal mistake. One recent example of this can be found in an article entitled “Men Charged in $28 Million Investment Scheme.” (more…)

Tagged with: Charles Korcoras • financial adviser • Francois E. Durmaz • III • investment adviser • investment advisor • John T. Burns • Mahmut Erhan Durmaz • misappropriation • Ponzi • Robert C. Pribilski • scam • scheme • theft • USA Retirement Management Services

Wisconsin Case Highlights the Limits of Perception

On October 5, 2012, in Investment Psychology, Ponzi schemes, Scams, The Vigilant Investor, Wisconsin, Wisconsin, by IW Dog

If you do more than set forth to confirm legitimacy, you’ll believe that you’ve done so, even as your money goes up in smoke.

“But I saw their tax returns!” At least one of the victims of the scam described below must have said this when he or she discovered that the investment was a fraud. But creating phony documents is as easy as a few mouse clicks; something any middle high schooler could do. According to the CFTCs release: (more…)

Tagged with: Aquinas SF • Aquinas SF LLC • CFTC • due diligence • endowment • Eric N. Schmickle • Eric Schmickle • financial adviser • financial advisor • fraud • hedge fund • Huddleston • investment adviser • investment advisor • Investors Watchdog • Investor’s Watchdog • pension fund • Q Wealth Management • scam • scheme • The Vigilant Investor • Winnow

Accused Scamster Nabbed on Flight from London

On April 5, 2012, in Florida, Florida, Investment Psychology, Ponzi schemes, Scams, The Vigilant Investor, by IW Dog

Nothing in your natural makeup equips you to tell the future scamster from the honest adviser.

I’m seeing an increase in the number of scamsters who take it on the lam. Maybe its the trend in our society toward narcissism that convinces folks that they can and should get away with their investment crimes. Whatever the reason, I’m writing more these days about scamsters who’ve been captured after weeks, months, or years on the run. The Orlando Sentinel has the latest such story. According to their story: (more…)

Tagged with: broker • Broker Snapshot • due diligence • endowment • financial adviser • financial advisor • fraud • George Elia • hedge fund • Huddleston • International Consultants & Investment Group • International Consultants & Investment Group Limited • International Consultants & Investment Group Limited Corp. • investment adviser • investment advisor • Investors Watchdog • Investor’s Watchdog • pension fund • Ponzi • Private Equity • RIA • scam • scheme • SEC • Securities and Exchange Commission • The Vigilant Investor • Winnow

Study Reveals the Pain of Investment Fraud

On July 26, 2010, in Investment Psychology, Investors at Risk, Ponzi schemes, Quebec, Quebec, Scams, Securities Industry (general), by IW Dog

What keeps many from protecting themselves from this pain is the persistent, hardwired belief that such tragedy will never happen to them.

A group of seven senior citizens calling themselves the Earl Jones Fraud Assistance Information and Assistance Service has studied the impact of investment fraud on the victims. (Earl Jones is the Montreal businessman sentence to 11 years in prison for running a decade-long Ponzi scheme which robbed more than 180 victims of more than $45 million). Funded by the Quebec Ministry for the Elderly, the study shows the painful human toll that investment scams take from those who lose their life savings to those scams. Covering the study for TheSuburban.com, Ian Howarth writes: (more…)