Monsters, Madoff, Oh My!
/Currently on Netflix, the television series called “Madoff: The Monster of Wall Street” is an eye-opening picture of how anyone can be victim of a fraud. It is a must-see movie for anyone investing in stocks, mutual funds, and other financial instruments. Anyone with an Individual Retirement Account (IRA), Roth IRA, 401K, or just any type of investment would learn from this documentary. I know documentaries are boring but really, this one could get you from making a mistake that could hurt you.
When I talk about what Bernie Madoff did, I often hear people remark. It cannot happen to me. Or it cannot happen here. The truth is it could happen to anyone. It can happen anywhere.
For example, in July 2022, Jeffrey McHatton of Chandler and Robert Sproat of Mesa were found guilty of 10 counts of fraud for offenses committed between 2012 and 2014. A third defendant, Robert Moss of Gilbert, pleaded guilty. They were considered “Christian businessmen with unquestionable integrity as they were obtaining investor’s funds for overseas investment but really using them for personal expenses - https://www.12news.com/article/news/crime/christian-businessmen-from-east-valley-guilty-of-investment-fraud/75-f8fd5600-6a73-48b0-ae06-ba54c0e9e90d. Investors lost $1.2 million.
Not to be outdone, in Colorado, Samuel Mancini pleaded guilty to fraudulently obtaining $11 million from investors due to misrepresentation about fund operations, his background and his personal contribution to the fund. He managed and controlled Outdoor Capital Partners LLC (Limited Liability Company) – a private investment fund. His promise was to invest in 3 Italian cycling companies and promised investors 70% of the profits - https://www.justice.gov/usao-nj/pr/colorado-ceo-and-fund-manager-admits-11-million-securities-fraud-scheme.
Deception and fraud are not limited to Wall Street. It is everywhere. And everyone is susceptible to it. What does a prudent investor do? Ronald Reaan famously said, “Trust but verify.” However, investors should follow that saying a little differently. Verify then trust.
We believe you should be empowered to think critically and seek out the valid information and data that will allow you to have confidence in your investment strategies and providers. We invite you to join us in a conversation called “Verify, Verify, verify” via zoom video conference on Wednesday, May 10th beginning at 5:30PM Mountain (4:30PM Arizona) time and ending at 7:00PM Mountain (6:00PM Arizona) time.
You will discover for yourself that:
Individual intelligence or success does not insulate anyone from investing schemes and scams.
Investment fraud and scams can be sophisticated and are designed to appeal to our most basic desires as an investor.
Four critical areas to investigate and validate the legitimacy of your strategy.
You do not have to be a superhero to protect yourself against these evil doers. You need to ask the right questions. We encourage you to empower yourself with those questions by registering for this event. You may call your financial coach at Stone Wealth Strategies or register for the class here:
Please call 970-668-0772 and ask for Kevin with any questions
Stone Wealth Strategies. is a registered investment adviser. The information presented is for educational purposes only and is not intended to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.