Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®
Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®
Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®
Red Flags of Investment Fraud
32 minutes Posted Sep 8, 2022 at 9:02 am.
Local story that sparked this discussion
Affinity fraud
Sale of an unregistered security
Private hard money lender
Why this local Ponzi collapsed
Why a custodian matters
Be aware of private investments
Any protection for this?
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32:17
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Show notes
A $50+ million investment fraud is unwinding in northeast Ohio with a former high school basketball coach and self-proclaimed single-family real estate expert being accused of bilking investors in a ponzi scheme. You probably think, "This can't happen to me." The same can likely be said of those in the community that now have fallen victim to fraud at the hands of someone they trusted.
 
Hear Kevin discuss red flags and common scams fraudsters often use. Affinity fraud, guaranteed or high returns, and unregistered products are often well disguised into good-sounding strategies to gain your trust and dollars.
 
And be sure to pay attention to the end, when Kevin talks about public vs. private investments and the benefits of using a qualified custodian -- like Schwab, Fidelity, Pershing, and TD Ameritrade -- for the safe keeping of your assets.
 
Key topics on this episode:
 
 
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