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The Red Flags of a Ponzi Scheme
Today’s episode dives right into some of the red flags of a Ponzi scheme, and how to avoid it. I invite Darryl Cleveland on to the show to help demystify what a Ponzi scheme is. Darryl is a business lawyer who has counseled clients in securities law and compliance-related issues. Don’t end up being an unsuspecting investor that gets scammed out of your hard-earned money!
The largest Ponzi scheme in history was conducted by Bernie Madoff; an estimated $18 billion dollar loss to investors. How did this happen? Bernie’s clients were high-profile and high-end, yet they still fell into a Ponzi scheme. Was it just investor greed that got the best of them, or is there something more to it? Let’s find out!
Show Notes
[2:45] What is a Ponzi scheme?
[4:00] Bernie Madoff had some very high-end and wealthy individuals on his roster.
[4:30] The government has laws in place so that the unsophisticated investor doesn’t get penalized heavily.
[5:25] How do both sophisticated and unsophisticated investors accidently get involved in a Ponzi scheme?
[6:30] What are some of the red flags to a Ponzi scheme?
[10:35] How can you invest and protect yourself?
[11:40] When receiving a statement, how do you know if it is true?
[12:25] Do the statements make sense to you?
[13:55] You have to do some legwork sometimes.
[16:20] How do you differentiate between a Silicon Valley start up investment (with no proven track record) vs. a con artist (with no proven track record)?
[18:25] Con artists help you overlook the red flags by pressing on the ‘urgency’ factor.
[19:15] If they won’t give you time to think over the decision, then the answer should be no.
[20:45] The sexy and glamorous investments aren’t for everybody.
[22:05] What’s the difference between an accredited and unaccredited investor?
[23:45] Deirdre does a quick recap.
[25:00] If you don’t feel comfortable, then don’t ignore that feeling.
[25:35] How can someone do a background check without hiring a lawyer?
Connect with Darryl:
Dclevelandlaw.com
Leave Me a Review:
If you enjoyed this episode, please help me by leaving an honest review on iTunes. Your feedback is important to me. And while you’re at it, don’t forget to subscribe to the Show.
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By Deirdre SanbornToday’s episode dives right into some of the red flags of a Ponzi scheme, and how to avoid it. I invite Darryl Cleveland on to the show to help demystify what a Ponzi scheme is. Darryl is a business lawyer who has counseled clients in securities law and compliance-related issues. Don’t end up being an unsuspecting investor that gets scammed out of your hard-earned money!
The largest Ponzi scheme in history was conducted by Bernie Madoff; an estimated $18 billion dollar loss to investors. How did this happen? Bernie’s clients were high-profile and high-end, yet they still fell into a Ponzi scheme. Was it just investor greed that got the best of them, or is there something more to it? Let’s find out!
Show Notes
[2:45] What is a Ponzi scheme?
[4:00] Bernie Madoff had some very high-end and wealthy individuals on his roster.
[4:30] The government has laws in place so that the unsophisticated investor doesn’t get penalized heavily.
[5:25] How do both sophisticated and unsophisticated investors accidently get involved in a Ponzi scheme?
[6:30] What are some of the red flags to a Ponzi scheme?
[10:35] How can you invest and protect yourself?
[11:40] When receiving a statement, how do you know if it is true?
[12:25] Do the statements make sense to you?
[13:55] You have to do some legwork sometimes.
[16:20] How do you differentiate between a Silicon Valley start up investment (with no proven track record) vs. a con artist (with no proven track record)?
[18:25] Con artists help you overlook the red flags by pressing on the ‘urgency’ factor.
[19:15] If they won’t give you time to think over the decision, then the answer should be no.
[20:45] The sexy and glamorous investments aren’t for everybody.
[22:05] What’s the difference between an accredited and unaccredited investor?
[23:45] Deirdre does a quick recap.
[25:00] If you don’t feel comfortable, then don’t ignore that feeling.
[25:35] How can someone do a background check without hiring a lawyer?
Connect with Darryl:
Dclevelandlaw.com
Leave Me a Review:
If you enjoyed this episode, please help me by leaving an honest review on iTunes. Your feedback is important to me. And while you’re at it, don’t forget to subscribe to the Show.
On iTunes On Stitcher