The LA Times, the Seven-up to our morning NYT Seagram’s, details the rise of investment fraud against baby boomers. The phenom is slightly ironic because the age segment is supposed to boast a higher financial acumen than previous generations. Some of the pernicious tactics con men use to lure victims into their scams include:
• Making an investment offer seem rare to increase its appeal.
While bushwhacking through the heart of darkest Africa, explorers found an untapped cubic zirconium vein…
• Comparison: Juxtaposing the offered price of the investment with a higher-priced example.
It’s but a pittance when you think of the costs associated with bribing a congressman.
• Social consensus: The con man makes it seem like everyone is buying his investment.
Even the charter flights into the verdant swamps of Florida are booked all season!
• Landscaping: The con man structures the interaction between himself and the victim so that all roads lead to where the perpetrator wants the victim to go.
There’s nothing to say about this one, it’s just dastardly, unmitigated.
“Baby Boomers a Fraud Target” [LAT]