Every time I listen to CNBC’s American Greed on my drive home I can’t help but be just as annoyed and irritated with the “victims” as with the criminals.
I’m not saying the thieves were right. I’m not saying it doesn’t suck to have your money stolen. BUT, the bulk of these people were clearly quite lucky to ever have come in contact with the money they lost to begin with.
As an example, tonight’s victims were of to a guy who offered (phony) bridge loans. He lived in Hawaii and convinced people that he barely knew to loan him tons of money to supposedly make bridge loans. And of course, you got tons of interest on the money you lent him to do this. But then you didn’t. And then your money was gone. 1 woman said she took out 3 high-interest mortgages on her home on Kauai to loan/invest with him.
So then this guy declares bankruptcy in Hawaii and is being investigated by the FBI. So he leaves his $4 million mansion and moves to Seattle and is living in a rented single room. And gets a job at a mortgage broker. Of course. Then he convinces another guy renting a room in the same place to give him his kid’s college fund ($30k) to “invest” in bridge loans. And apparently more people, to the tune of hundreds of thousands of dollars, also invest with him. Just in Seattle. Many millions in Hawaii. And just while he has been in Seattle for a short time. And living in a rented room while working at a mortgage broker office. Clearly a trusted investment professional.
The woman from Kauai, the one who took out 3 mortgages on her home, and was forced to sell her home and move in with family in Maine, had the nerve to say “This could happen to anyone. I am an educated woman.” No. No, you can be 100% sure it would not happen to me. You thought you were getting a quick and easy way to money that you didn’t actually have to work for. Be honest. Great if it can happen but winning double 00s in Vegas is fun too. But you can’t blame anyone when you go bust. So not much sympathy coming from over here.
Fool. Money. Lucky to have ever met.