31 min
Investor Beware: How to Protect Your Money from Scams and Fraud The Empowered Investor
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- Investing
Financial fraud is a serious issue that has unfortunately cost many investors their hard-earned savings. Although technology has helped fraudsters find new ways to dupe investors, the same core themes appear again and again.
From Ponzi schemes to fake investment opportunities, these scams lure investors in with promises of high returns and low risk. In reality, there’s no increased reward without increased risk, and even when these plots are revealed, many people never recover what they invested.
The best way to protect yourself is to be aware of the warning signs and educate yourself on the steps you can take to protect your investments. In this episode, Keith and Marcelo explore the world of financial fraud, some famous examples of these schemes, how they work, how you can safeguard your finances, and so much more!
Thank you for listening!
Key Topics:
Why we’re talking about financial fraud (1:14)Different types of financial fraud and famous examples (3:01)How Ponzi schemes work (6:24)Why the biggest Ponzi schemes are usually uncovered during market corrections (9:57)Charles Ponzi’s landmark scheme in the 1920s(10:51)How Bernie Madoff kept his fraudulent scheme running for 20 years (12:10)Earl Jones’s Canadian scheme targeting the elderly in the 80s and 90s (15:08)Common themes among these long-running Ponzi schemes (17:17)What the sentencing of Gary Sorenson and Milowe Brost show about the significant differences in penalties for white collar crime in Canada vs. the US (18:26)The Norbourg scandal in Montreal (19:33)The biggest reasons people keep falling for these schemes (21:09)Warning signals to be aware of to protect yourself from financial fraud (24:15)The AMF’s five steps to avoid fraud (26:36)And much more!
Mentioned in this Episode:
● Netflix Documentary | Madoff: The Monster of Wall Street
● Diana B. Henriques’ Book | The Wizard of Lies: Bernie
Madoff and the Death of Trust
● John Carreyrou’s Book | Bad Blood: Secrets and Lies in a
Silicon Valley Startup
● Movie | Norbourg
● Autorité des marchés financiers (AMF)
● Ontario Securities Commission
○ Investment Fraud Checklist
● Canadian Securities Administrators
● Bethany McLean & Peter Elkind’s Book | The Smartest
Guys in the Room: The Amazing Rise and...
Financial fraud is a serious issue that has unfortunately cost many investors their hard-earned savings. Although technology has helped fraudsters find new ways to dupe investors, the same core themes appear again and again.
From Ponzi schemes to fake investment opportunities, these scams lure investors in with promises of high returns and low risk. In reality, there’s no increased reward without increased risk, and even when these plots are revealed, many people never recover what they invested.
The best way to protect yourself is to be aware of the warning signs and educate yourself on the steps you can take to protect your investments. In this episode, Keith and Marcelo explore the world of financial fraud, some famous examples of these schemes, how they work, how you can safeguard your finances, and so much more!
Thank you for listening!
Key Topics:
Why we’re talking about financial fraud (1:14)Different types of financial fraud and famous examples (3:01)How Ponzi schemes work (6:24)Why the biggest Ponzi schemes are usually uncovered during market corrections (9:57)Charles Ponzi’s landmark scheme in the 1920s(10:51)How Bernie Madoff kept his fraudulent scheme running for 20 years (12:10)Earl Jones’s Canadian scheme targeting the elderly in the 80s and 90s (15:08)Common themes among these long-running Ponzi schemes (17:17)What the sentencing of Gary Sorenson and Milowe Brost show about the significant differences in penalties for white collar crime in Canada vs. the US (18:26)The Norbourg scandal in Montreal (19:33)The biggest reasons people keep falling for these schemes (21:09)Warning signals to be aware of to protect yourself from financial fraud (24:15)The AMF’s five steps to avoid fraud (26:36)And much more!
Mentioned in this Episode:
● Netflix Documentary | Madoff: The Monster of Wall Street
● Diana B. Henriques’ Book | The Wizard of Lies: Bernie
Madoff and the Death of Trust
● John Carreyrou’s Book | Bad Blood: Secrets and Lies in a
Silicon Valley Startup
● Movie | Norbourg
● Autorité des marchés financiers (AMF)
● Ontario Securities Commission
○ Investment Fraud Checklist
● Canadian Securities Administrators
● Bethany McLean & Peter Elkind’s Book | The Smartest
Guys in the Room: The Amazing Rise and...
31 min