The Expert Podcast

Paragraph 1:
Do Ponzi schemers get caught? Yes, they do. Do they get convicted? Yes, they do. Do they have consequences? Yes, they do. Here's one who got seven years in prison. Seven years in prison, a Ponzi schemer. Sometimes it takes a while, but one of the questions we get a lot from victims is, "Do these people ever get caught? Does anything ever happen to them?" Well, they do if there's an investigation. If everybody gives up on it and just lets them get away with it, no, of course, they're not going to get caught because no one's there to catch them. But yes, Ponzi schemers that are investigated and get caught do have consequences.

Paragraph 2:
So how big was this case? Well, he only had 20 victims. He convinced 20 people to liquidate their assets and give his company money to reinvest. How big was the case? Well, he had to do restitution of $2.6 million. So he got seven years for stealing $2.6 million. It wasn't that big of a case. The FBI got involved, and he pled guilty to a single count of wire fraud because he was going to get convicted.

Paragraph 3:
Now, whether the victims get their money back will depend on whether this guy ever has money or if the victims find third parties that have liability. This had something to do with insurance and some other security scams, so maybe you can go after the insurance company, the regulatory agency, or a bank that didn't keep track of their accounts well. The most important thing with any kind of scam is to look at third-party liability. That's what we do with investigations: are there any third parties that might have some possible connection to the case?

Paragraph 4:
Now, it takes some extra steps to try to involve them and get the money from them. But this guy's going to be in jail for seven years. He's probably not going to have $2.6 million floating around while he's working at, you know, 30 cents an hour folding prison clothes. But you want to make sure that you're looking at third parties to see if you can get your money back when these people get caught because yes, they do get caught.

Paragraph 5:
Thank you for watching. Remember, you can access live one-on-one personal consultations with a licensed private investigator, a licensed commercial insurance broker, a licensed certified real estate title examiner, and a certified civil court mediator. So if you need to talk to an expert in any of these fields or even a licensed building general contractor, you can click the link below. ActualHuman.com and arrange a live one-on-one consultation with a licensed expert, where you can ask any questions and get information about your situation. We'd be glad to help.