A former UBS broker, John MacColl, has confessed to stealing millions from at least 15 clients between 2008 and 2018. The confession came after a former client became suspicious about an investment made with MacColl. When the client requested an account statement, the former broker faxed a statement with several misspellings and errors.
Identifying a Ponzi scheme
If something seems too good to be true, it most likely is. Even though that saying is well known within society, it is not always easy to identify red flags when someone is trying to pull you into a scheme. Unfortunately, some people try to take advantage of investors, especially investors who are not knowledgeable about potential schemes or are desperate for a quick fix to a financial situation. These solutions appear to be legitimate on the surface and offer potential results that would benefit you greatly, but underneath reveal
