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Invest Like a Boss

274: How To Spot & Avoid Ponzi Schemes with David M. Shapiro

Invest Like a Boss

Sam Marks Johnny FD Derek Spartz

Investing, Business

4.8 • 518 Ratings

🗓️ 18 May 2023

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

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:

Sponsor:

      • NetSuite
        For the first time in NetSuite’s twenty-two years as the #1 cloud financial system, you can defer payments of a FULL NetSuite implementation for six months. Learn more at Netsuite.com/ILAB.

Like these investments? Try them with these special ILAB links:

    • Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK)
      *Johnny and Sam use all of the above services personally.
    • Invest Like a Boss Patreon
      Help support the continuation of Invest Like a Boss by becoming a Patreon! Plans start as low as $5/month and give you instant access to years of exclusive content, including portfolio access, trade alerts, bonus episodes & more. Join now at Patreon.com/InvestLikeaBoss.

 

Time Stamp:

    • 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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Transcript

Click on a timestamp to play from that location

0:00.0

Hey bosses, before we kick off this episode, I want to tell you about our friends over at NetSuite.

0:05.0

Now, if your business earns millions or tens of millions of revenue, first of all, congratulations.

0:11.3

But second of all, you need to stop what you're doing and take a listen because NetSuite by Oracle

0:15.5

has just rolled out the best offer we've ever seen.

0:18.8

NetSuite gives you the visibility and control you need to make better

0:21.7

decisions faster. And for the first time in NetSuite's 22 years, as the number one cloud

0:27.3

financial system, you can defer payments a full six months for the entire NetSuite implementation.

0:34.9

That's no payments and no interest for six months. And you can take advantage

0:39.5

of this special financing offer today. It's no interest, no payments. Take advantage of this

0:45.2

special financing offer at net suite.com slash iLab. That's net suite.com slash I-L-A-B to get the

0:53.2

visibility and control you need to weather any storm. One more time,

0:57.5

it's net suite.com slash iLab. All right, let's kick off this episode of Invest Like a Boss.

1:03.7

Welcome to the Invest Like a Boss podcast. I'm Sam Mart. I'm Derek Sparts. And I'm Johnny FD.

1:08.9

We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss.

1:13.3

Join us each week for exclusive interviews with our network of modern investors, business owners, and multimillionaires to discover new ways to invest our hard-earned cash.

1:23.5

Welcome back, Bosses, episode 274.

1:26.8

Did I get that right?

1:28.3

274.

1:30.8

I just said it three seconds ago, Sam.

1:33.3

I just finished boxing class.

1:36.0

And I haven't gotten punched that many times in my life.

1:39.6

But today I got punched in the temple really hard.

...

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