Financial Fraud 101

Posted by Norb Vonnegut on 2/15/10 • Categorized as Scandals

Scams: Pigeon Fever

Sixty Minutes ran a terrific story last night on financial scams. Conclusions:

Ponzi schemes are alive and thriving
Gullability is here to stay.
“Affiliation marketing” is the way con artists find you—at church, the country club, you get the picture.

Last year, I posted the Top Ten Ways to Spot Financial Fraud. Check out the link for a list of red flags. Here’s one you won’t find on 60 Minutes. Does your financial adviser always pay with cash? Have you ever seen him/her use a credit card?

Norb Vonnegut

About the author

Norb Vonnegut wrote 158 articles on this blog.

Do you ever feel the financial news makes no sense? Do stories leave you with more questions than answers? I created Acrimoney to discuss Wall Street’s behavior behind the headlines. As a veteran of a wealth management business that exceeded $1 billion in assets, I offer insight into the people and the “doings” that affect your money. I’ll start the discussion. But I hope you’ll jump in and say what you think.