This is part two on financial fraud and ponzi schemes. Our previous episode (ILAB 273) featured the biggest ponzi schemes of all-time. Our guest, David M. Shapiro, comes on to help explain how to avoid being involved in a ponzi scheme and what signs to look out for. He also talks the government structure around going after these crimes and some of the newer tech driven financial crimes involving cryptocurrency, identity theft and more. Sam and Derek follow up with their thoughts on the interview and Sam tells us about a ponzi scheme he almost fell into in Thailand.
Discussed:
Where we are:
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- Johnny FD – Kyiv, Ukraine / IG @johnnyfdjj
- Sam Marks – Barcelona, Spain / IG @imsammarks
- Derek – Los Angeles / IG @DerekRadio
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Sponsor:
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- NetSuite
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- NetSuite
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- Wealthfront Robo-Advisory – Get your first $5,000 managed free
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- Cult Wines - get 1 month fee-waiver free each year (8% reduction)
- Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK) *Johnny, Derek, and/or Sam use personally invest through the above services.
Time Stamp:
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- 05:35 – Interview with David Shapiro Begins
- 13:47 – What are the new tech based crimes happening?
- 24:45 – Is Social Security a Ponzi Scheme?
- 27:54 – How the SEC Structure Works For Investigations
- 35:24 – What Government Agencies Have Have Roles in these crimes?
- 51:20 – Thailand Ponzi Scheme Sam Got Caught In
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