Want to Learn How Ponzi Schemers Think? Watch American Greed on May 30
Despite the warnings to watch out for “free lunch” scams, affinity fraud, and schemes promising returns too good to be true, Americans continue to fall prey to investment fraud. Whether this is because fraudsters are notoriously charming and well connected, or because investors just don’t know what investment red flags to watch for, potential victims might be able to avoid the schemes if they knew how con artists think.
This isn’t as hard as it sounds.
Investors who want to find out how con artists manage to defraud so many people can tune in to American Greed this Thursday.
The episode will be the primetime series’ 77th episode and will feature convicted Brooklyn investment manager Philip Barry. Barry defrauded more than 800 investors out of $40 million by using his local connections and claims of “guaranteed returns” to prey on the hard-working people in the neighborhood. In the episode, he discusses his fraudulent behavior from prison.
The series describes itself as being dedicated to examining "the dark side of the American dream” and typically examines large Ponzi schemes that defrauded investors around the country. Previous episodes have featured Sarasota Ponzi schemer Arthur Nadel and Minnesota’s Trevor Cook.
To learn more about the show, visit the American Greed website.
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