Avoiding the clip job
Unfortunately, the public outcry over the Bernie Madoff scandal – and the regulatory response to that outcry – has done little to stem the tide of investment fraud. From elaborate Ponzi schemes aimed at celebrity investors, to simple investment scams targeting the elderly, the desperate or the naive, scam artists continue to separate clients from their money.
In their new book, “Financial Serial Killers,” attorney Tom Ajamie and InvestmentNews News Editor Bruce Kelly expose the world of Wall Street money hustlers, swindlers and con men. While the fraudsters have changed over the years, the authors note that their methods have stayed basically the same.
And what are those methods? Here, culled from the work of Messrs. Ajamie and Kelly, are eight warning signs that a broker or adviser might, in fact, be a swindler.
[To purchase “Financial Serial Killers” at a discount, click here]