The-Con-Artists-Playbook-AARP

Promising Big WinsPhantom riches are something you want, but can’t have. The conartist will dangle that phantom in front of you in order to get youremotion up so you will make an impulsive decision. Researcherssay this is the number one tactic found in undercover audiotapesof con pitches.Jeremy Shipman worked innumerous gold coin scam roomsover a five-year period. Hedescribes the use of phantomriches this way. “We would tellpeople that gold would absolutelydouble in value in the next one totwo years and that the prospectwould be able to rely on it makingthem far more money than anyother investment vehicle.”Phantom riches aresomething you want,but can’t have. The conartist will dangle themin front of you to getyour emotion up, in thehopes of triggering animpulsive decision.What are some examples of phantom riches?“And the grand prize is $25,000 in cold, hard cash.”“You are looking at returns that are just astronomical, like 57,000percent.”“I have a check for you for $232,000 that I have been holding forover a year now.”“I have some excellent news for you. You came out as the grand prizewinner.”“The Florida lottery is up to $30 million dollars this Saturday night!If you join our club, you will have 4,800 tickets – that’s 4,800 chancesto win.”Most of these claims come with a requirement to pay a“processing fee” or “taxes” before you can collect.Watchdog WarningWhenever you are approached with this kind of a pitchto win large amounts of money, pay attention to yourreaction. Does your heart start beating faster? Doessweat form on your forehead? Do you start imaginingall the things you could do with the winnings? Theseare signs of being under the ether. Never decide tobuy in this condition. Virtually all lotteries, prizes andsweepstakes offers that require payment to win arescams.8 AARP Fraud Watch NetworkAARP Fraud Watch Network9