I can do what no one has been able to do before!
These are the words you’d normally hear from a three-year-old you’re trying to convince that Batman on the movie screen is NOT jumping three stories to the ground without permanent injury.
These are also the words of the real scammer.
Confidence man, Ponzi, con man, hustler, or flim-flan are all terms that have been used to describe this person.
I use only one: Criminal.
You can always count on them to show up when things are going your way. They always come with a flowery resume that, at first glance, seems compatible with what they are ‘selling’. The scammer is an expert in people skills because they are sociopaths. They have the ability to use our subconscious body language cues to make us believe in their product. They are quick with a response. Quicker even with guilt when it doesn’t work and very cautious about the method they will use to achieve what science, Wall Street or even God himself cannot achieve.
They will brag in good faith that it will include mention of names that cannot be verified because “they (the known people) don’t want to be inundated with phone calls.”
It turns out that the first “con man” was William Thompson, who was finally arrested in 1849 in New York City. As crazy as he sounds, he would dress very nicely and go up to another dressed person and ask to borrow his watch until the next day. Thompson would actually use the word “trust” in stealing from him: “…would you have the trust in me to lend me your watch until tomorrow?” I couldn’t find any record of his sentencing, but I’m sure it was severe by today’s standards. Thompson had all the lines used by the modern hustler with the new addition of the need for the ‘brand’ to be greedy.
“If it sounds too good to be true, it probably is.” This seems so simple, but with some amazing success stories abounding in the last century, there is always a reference for the scammer to turn to. “Can you imagine what it would be like to walk downstairs at Microsoft?” Most of us can.
A con man will have the trappings of wealth with a backstory to match and probably even a photo with President Obama. They are universally charismatic. They can be men or women, but they are all very believable.
A Ponzi scheme may not have much to complain about if you are an early “brand”, but as the scheme progresses there may be some signs of a break in the chain that holds the scheme together. The only person who can quickly find that string is a forensic accountant. Now before you get the idea that all accountants are book nerds, think again.
When the FBI’s forte was taking down armed criminal gangs before World War II, J. Edgar Hoover knew the saying “follow the money.” At that time, the only men who could become FBI agents were lawyers or accountants. Alfonse Capone was sent to jail for accounting, not murder. The good news is that Capone died of a venereal disease in prison. Most scammers get away with it much easier and if caught they spend their prison sentences in white collar prisons and not hard core prisons. Neither I nor most victims would agree to this privilege, given the fact that these re-creators steal money from people who cannot afford the loss.
Most modern scammers or con artists can be discovered with forensic accounting and/or close, aggressive scrutiny. The con man will closely guard your backstory with several side exits that make up his maze of lies. Investigators can make quick work of shutting down all those paths to the truth – he’s a scammer.
The scammer knows that people basically trust (unless you’re a seasoned street cop) that they’ll believe even an unbelievable lie given there’s enough math or tech chitchat to back it up. They might send you a profit and loss statement, but where did they get the numbers? A third is the best to separate the numbers from it. The scientific part can also be grounded by a researcher, using contacts in academia who will be happy to help.
These people have studied emotional triggers. They have a great sense of timing, they know when to push and when to back off. Your only ally is your personality. They all have a story filled with tragedy and sadness. They are totally sociopaths and have no shame at all. They are like the character in Star Wars in the sense that they can play on anyone’s emotions. No one is immune from them, not even federal judges.
The day before Christmas Eve, an FBI rookie came to see me (I was FBI at the time working on bank robberies and extortion) because the office was empty, with a fugitive lead. He asked me to read the file and the airtel (what we now call an email) of the case agent in the east. The guy had ripped off senior citizens and made off with his money to start a company on the west coast to legitimize his current medical scheme. I went with the agent to the place of business. The company of about 20 employees was having a Christmas party. The president of the company was in front of everyone giving a Christmas speech. Was the! I was excited! I made my way to the front of the group and called out the man’s name.
He froze, which by the way is much more normal for humans than ‘fight or flight’. He stammered that we had the wrong guy. The rookie started handcuffing him in front and I pushed him against the wall, searched him and then handcuffed him in the back. His wife was red as a beetroot!
We took the buttwipe to the US Marshalls for safe keeping until their short time. Long story short, the federal judge bought out his BS line and released him on bail “for Christmas.” You all know the rest. I hope the FBI agent who finally caught him waited until 4pm Friday for the creep to have to spend the weekend in county jail and get to “know” some really tough cases!
I don’t see the ‘victimless’ part of a trust game. Those people in Florida lost everything. The fact that they don’t use violence is fine for some. I don’t.
If you’re approached with a deal that sounds too good to be true and someone else you know recommends it to you. Be polite. apologize. Then call a private investigator.
Since the person has not committed any crime, the police will not be interested in investigating. They’ll take the report, but that’s probably as far as they’ll take it.