Fraudsters Unveiled: Inside the Minds of Intentional, Righteous, and Accidental

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James Altucher Logo  fiber_manual_record  Mar 16th, 2023


Today, James welcomes Kelly Richmond-Pope, a forensic accountant and professor at DePaul University, to discuss her new book Fool Me Once: Scams, Stories, and Secrets from the Trillion-Dollar Fraud Industry. The book explores the world of financial fraud and provides insights into how fraudsters operate, the damage they cause, and the techniques used to catch them. James and Kelly dive into some examples from the book to examine the three types of financial fraudsters: Intentional Perpetrators, Righteous Perpetrators, and Accidental Perpetrators. Intentional Perpetrators are those who knowingly commit fraud for personal gain. Kelly shares some fascinating stories about individuals who engaged in elaborate schemes to defraud others, including the city comptroller of Dixon, IL (population: 16,000) who embezzled over $53.7m from the town's coffers. Righteous Perpetrators, on the other hand, believe that they are acting in the best interest of others when they commit fraud. Kelly provides examples of individuals who embezzled funds from their companies to support their personal causes, such as a woman who stole money from her slumlord boss to benefit her community. Lastly, Accidental Perpetrators are those who unknowingly commit fraud. Kelly discusses cases where people unintentionally misrepresent their financial statements or fail to report income accurately, resulting in unintentional fraud. Throughout the episode, James and Kelly also explore some of the broader issues surrounding financial fraud, and the importance of education in preventing fraud. Don't miss this captivating episode if you're curious about the fascinating world of finance, fraud, and forensics. Kelly Richmond Pope's WebsiteFool Me Once: Scams, Stories, and Secrets from the Trillion-Dollar Fraud IndustryWatch her documentary All the Queen's Horses on Prime Video ------------ Visit to read our idea lists & sign up to create your own! My new book Skip the Line is out! Make sure you get a copy wherever books are sold! I write about all my podcasts! Check out the full post and learn what I learned. ------------ Thank you so much for listening! If you like this episode, please rate, review, and subscribe to “The James Altucher Show”

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