Fraud victim advocacy, fraud recoginition and prevention education, and law enforcement support

fraud recognition & prevention education, fraud victim advocacy, law enforcement support

Fraud recognition & prevention education, fraud victim advocacy, law enforcement support

                    

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Fraud Secrets:

A Backstage Tour

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Why con artists scam

Profile of a con artist

What con artists look for

How con artists set up their victims

What a con artist won't tell you

What a con artist will tell you

Have I been scammed?

12 excuses for not returning your money

How do I find my money?

Where did my money go?

If you lost your funds in an investment scam, speak to your accountant about a theft deduction.

 

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Trader fraud: truth vs. scam

From The Dictionary of Financial Scam Terms

An easy-to-understand guide to financial terms used by swindlers.

 


  

Trader:

A trader is a person who buys and sells securities, financial instruments, loans, commodities or other assets either from his own account or on behalf of others or both.  A trader may be a broker, a dealer, or a speculator.  Depending on the type of trading being done, a license may be required even if the trader is using only his own funds; however, if other people's money is at stake a license to trade is definitely required.

The Scam: In a fraudulent investment scheme, the Trader allegedly possesses incredible financial power, agreements with internationally recognized banks, contracts with private investment trusts and and investment houses, and the ability to make enormous profits from modest investments.  You are never, ever allowed to see the Trader's contracts as it would "compromise" the Trader.

Additionally, during the persuasion phase of a fraudulent investment scheme you are distracted from asking to see any authorizations whatsoever.  Financial con-artists (grifters) wrap their scheme with an aura of such secrecy, mystery, and exclusivity that you are made to feel you have been granted a rare privilege by having been invited to join the investment pool.  You will not do anything to rock the boat.  If you are willing to invest extremely large amounts of cash or securities and insist on seeing a license, a phony one may be produced but again you will be distracted from following up with outside verification.


BT-9/trader

 

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