This is part two on financial fraud and ponzi schemes. Our previous episode (ILAB 273) featured the biggest ponzi schemes of all-time. Our guest, David M. Shapiro, comes on to help explain how to avoid being involved in a ponzi scheme and what signs to look out for. He also talks the government structure around going after these crimes and some of the newer tech driven financial crimes involving cryptocurrency, identity theft and more. Sam and Derek follow up with their thoughts on the interview and Sam tells us about a ponzi scheme he almost fell into in Thailand.

 

Discussed: 

• David Shapiro's CV
• Watch Madoff: Monster of Wall Street on Netflix
• SEC Official Site on Tips to Spot Fraud

 

Where we are:

• Johnny FD – Kyiv, Ukraine / IG @johnnyfdj
• Sam Marks – Barcelona, Spain / IG @imsammarks
• Derek – Los Angeles / IG @DerekRadio

Sponsor:

• NetSuite
  For the first time in NetSuite’s twenty-two years as the #1 cloud financial system, you can defer payments of a FULL NetSuite implementation for six months. Learn more at Netsuite.com/ILAB.

Like these investments? Try them with these special ILAB links:

• Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK)
  *Johnny and Sam use all of the above services personally.
• Invest Like a Boss Patreon
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Time Stamp:

• 05:35 - Interview with David Shapiro Begins
• 13:47 - What are the new tech based crimes happening?
• 24:45 - Is Social Security a Ponzi Scheme?
• 27:54 - How the SEC Structure Works For Investigations
• 35:24 - What Government Agencies Have Have Roles in these crimes?
• 51:20 - Thailand Ponzi Scheme Sam Got Caught In
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