This recent story out of the U.S. is truly bizarre -- perhaps even beyond Bernie Madoff for its new heights (or depths) of deceitfulness! How do such people live with themselves? How do they not see the damage they've causing, the fear and affliction they're putting into the world around them? Do they ever consider the legacy they're leaving their own children, their grandchildren who inherit the name that is linked to fraud and corruption? Is this truly the Footprint they think they should leave in our world? Is this how they want to see themselves in the news? Well yes or no ...here's how vital a subject this is for YOU today and for the friends and family you care about most!
Today's news ...again about FRAUD
Today's story that caught my eye is at (LINK) where Gregory W. Gray Jr. allegedly took $5Million from investors to invest in discounted IPO shares of social-media firms (pocketing much of the money for personal use) and when the scheme was all under water, then took a further $5Million from a single investor (hello!) to invest in discounted shares of another SM firm. You can see the full article at Wealth Professional (link above).
In the comments section below, from The Economist is an article on how "ROTTEN ADVICE" tends to gather in certain firms and certain parts of the country. In some counties 20% of existing advisors carry a history of misconduct, and they're preying especially among seniors with more wealth and less education. Obviously we need common sense or guidance to help gain our financial advice from more reputable firms and advisors. After peaking at the comment, below, consider the following story here . . .
My friend: "What has it cost, Mom?"
This reminds me of a friend who recalls a particular day his widowed mother called him. "What's wrong?" he asked her. At that, his mom mentions the investment emails she had been receiving, opportunities to invest in early opportunities that would be worth millions. She sent money; she received nothing in return. "What has it cost, mom? How much have you lost?" Silence followed her reply: "...about five years of your father's and my work before we sold the farm." Or in other words, well over half of their life savings.
Happening to YOU -- likely this year!
In my book "A Lifetime Of Wealth - And How Not To Lose It" and various places where I update on this theme, I share that if you type in the name of your city or region, and the word "fraud" you'll generally turn up a minimum of 500,000 references to fraud. It's in our world news every day; in your local news nearly every week. Amid the catastrophes this breeds, you'd think people would know enough already to avoid fraud, to spot it easily at any distance. Yet at least 30% of us will fall victim to some kind of fraud in the next 6-12 months, while some will permanently lose a major portion of their life savings!
ALL PROCEEDS OF "A LIFETIME OF WEALTH" GO TO CHILD AND FAMILY CHARITIES. IF UNWILLING OR UNABLE TO PURCHASE LOCALLY OR ON AMAZON ASK AND I'LL SEND IT TO YOU AS A FREE E-BOOK.
Sharing how to avoid FRAUD
Would you like TEN key steps to avoid financial losses through Fraud. In a dozen quick slides here (Slideshare) you can gain perspective to protect your Family or Business, your Pension and Life Savings. Have a look, and then share these resources as widely as you can so we can help protect your friends, family, and community from these devastating calamities.
Yours in financial security for LIFE!Brian Weatherdon, MA CFP CLU CPCA CRC, MDRT. 905-637-3500 x 223 627 Guelph Line, Burlington, Ontario. L7R 3M7. 1-877-937-3500 x 223 Certified Financial Planner. Certified Retirement Coach. brian@SovereignWealth.ca Amazon: “A Lifetime Of Wealth — And How Not To Lose It.” Also see more on FINANCIAL STEWARDSHIP (here)