Investment Fraud - I

July 2, 2010

Learn about the variety of fraudulent investment schemes the FBI’s Economic Crimes Uni investigates in this podcast.

Audio Transcript

Ms. Ballew: The FBI investigates a variety of fraudulent investment schemes; many have the same common element.

Mr. Nanz: “A promise to give the investor a certain return on their investment.”

Ms. Ballew: David Nanz is chief of the FBI’s Economic Crimes Unit and says there is no one common victim.

Mr. Nanz: “It’s all ages, all education levels.”

Ms. Ballew: Nanz says there are always variations of older scams but a newer one…

Mr. Nanz: “Claims that the investment is tied to some of the recent government bailout money, for example, the Troubled Asset Relief Program, or other type of government programs where the perpetrator claims that the investment is backed by those programs.”

Ms. Ballew: This should be a red flag.

Mr. Nanz: “In fact, the average American is not able to invest in any of the government-related bailout programs.”

Ms. Ballew: Nanz says the most important thing to keep in mind when considering an investment opportunity is to conduct your due diligence.

Mr. Nanz: “Fully understand the person that you’re making the investment with, and understand the investment. If the investment sounds too good to be true, it almost always is.”

Ms. Ballew: I’m Denise Ballew of the Bureau and that’s what’s happening at the “FBI, This Week.”

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