Radio Host Gives Scam Advice While Stealing Millions, Part 1

The Perfect Scam

AARP

True Crime, Aarp, Fraud, Society & Culture, Scam, Crime, Bobsullivan

4.5 • 980 Ratings

🗓️ 1 April 2022

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

On his Saturday-morning radio show, Daryl Bank advises listeners on retirement investments and avoiding scams. He and his firm, Dominion Investment Group, target retirees like Charlotte Annas and her husband, Pat, who decide to invest their hard-earned retirement savings, and Richard Fairchild, who is working and wants to save more for his daughter’s college tuition. But when federal and state investigators start looking into the company, it’s clear that that trust has been broken.

Transcript

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0:00.0	This week on The Perfect Scam.
0:04.0	He would always say your mom has more money than she will ever know what to do with.
0:08.0	I'll never put you into anything that I wouldn't put my grandmother in.
0:12.0	You trusted him.
0:13.0	At some point we went to Roger and we said,
0:17.0	can we get this $150,000 back?
0:20.0	And he said no.
0:23.0	give an explanation?
0:25.0	It was not liquid.
0:27.0	You couldn't get it back.
0:29.0	We knew something was terribly wrong.
0:37.0	Welcome back to the perfect scam. I'm your host Bob Sullivan.
0:39.0	When you give your money to someone and ask for help planning your retirement, you're engaging in a remarkable act of trust.
0:47.0	Trust not just that the person or company will help your nest egg grow, but that your cash will be safe.
0:54.3	So when that trust is violated, a sacred promise is broken.
0:58.1	Lives are ruined, and the fabric of trust is ruined for us all. There are plenty of honest financial advisors out there
1:05.7	who only want the best for their clients, but it is absolutely critical that you take
1:10.5	a keen interest and who is caring for your nest egg.
1:15.0	It's okay to ask hard questions even to be a little cynical.
1:19.2	Today's story will help you see why. Let's meet three amazing people from three families who, probably like you,
1:28.0	had worked their whole lives just to save up a little money that they plan to enjoy in their later years. They are strangers, but they all live in Virginia.
1:36.7	And what else do they have in common? A company named Dominion Investment Advisors.
	...

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