Million Bazillion Ponzi schemes, tricks and scams!
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Sep 26, 2023 Brenda Hammer, the lead investigator from the hit show "Scam Slammers!", joins the discussion to uncover the world of Ponzi schemes. She shares her investigative insights and helps unpack the mechanics of these scams, revealing how they deceive victims. Listeners learn to identify warning signs, like unrealistic returns and unsolicited offers. Personal anecdotes from the hosts add humor while driving home the critical need for scam awareness, equipping young audiences with essential tips to safeguard their investments.
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Investments vs. Ponzi Schemes
- Investing is using existing money to make more, with varying risks.
- A Ponzi scheme is a fake investment where the leader keeps the money.
Ryan's Ponzi Scheme Story
- Ryan, once a millionaire from a jingle, lost his wealth to Ernie Tradeoff's scheme.
- Ernie lured Ryan with promises of high returns, a classic Ponzi scheme tactic.
Spotting Ponzi Schemes
- Beware of unusually high returns with no risk; investments always carry some risk.
- If returns stay high during economic downturns, it's a red flag.