Episode Transcript
[00:00:00] Speaker A: In part one of our podcast named the Mirage in the desert exposing the UAE's startup scam culture, we peeled back the layers of a growing crisis in the United Arab Emirates where con artists are dressing up Ponzi schemes as cutting edge startups, luring in victims with luxury jargon and sky high promises.
In part two, we're going deeper.
You'll hear real stories of deception from an American couple who lost their entire retirement to an Emirati family misled by a fake real estate empire.
We'll explore how scammers exploit regulatory gray zones, how US authorities are chasing justice across borders, and what you need to know to avoid falling into their traps.
It's a global con game with devastating human costs.
This is part two of our special report about the Ponzis in the desert.
Let's get into it.
[00:00:54] Speaker B: Hello and welcome back to part two of this podcast episode named the Mirage in the desert exposing the UAE's startup scam culture.
Nick, when we ended part one of our podcast, you were going to get into who the victims of these UAE based scams typically are.
[00:01:15] Speaker C: That's right, Sue.
So I've been, I've been following several cases closely and, and of course there have been numerous victims of these scams from all over the world.
There's this one case that really sticks with me.
This retired American couple, the Johnsons, who had saved about $850,000 for their retirement. They invested nearly all of it and in what they thought was this revolutionary fintech startup based in Dubai that promised like 20% annual returns. Totally sustainable, right?
[00:01:55] Speaker B: Oh, no. I think I can see where this is going.
[00:01:58] Speaker C: Yeah, exactly.
They. They lost everything.
And what's particularly heartbreaking is that Mr. Johnson had to go back to work at 72 years old and as a night security guard just to make ends meet.
His wife developed serious health problems that they attribute to the stress of losing everything.
And, and the thing is, they weren't reckless people. You know, they did what they thought was due diligence. The company had glossy brochures, a fancy website, testimonials from supposed investors, all the trappings of legitimacy.
[00:02:39] Speaker B: That's absolutely heartbreaking. Do these scammers specifically target older people?
[00:02:43] Speaker C: They.
They target everyone, really.
But retirees are particularly vulnerable because they have access to large sums through their retirement accounts and, and often less time to recover financially from losses.
But I've also interviewed younger victims. There was this tech professional in his 30s who invested about 200,000 his entire savings, plus some loans in what was marketed as an AI driven crypto investment Platform.
[00:03:18] Speaker B: And let me guess, it wasn't really using AI at all, right?
[00:03:22] Speaker C: It was just.
It was just a complete fabrication.
There was no AI, no innovative technology, nothing. Just a website and some really convincing salespeople.
This guy ended up having to move back in with his parents, dealing with crushing debt, and.
And he's been struggling with severe depression. He told me he's had suicidal thoughts, which is unfortunately not uncommon among victims of these scams.
[00:03:54] Speaker B: That's so tragic. What about local UAE residents? Are they victims too?
[00:03:58] Speaker C: Oh, yes, absolutely. There was this. This really sad case of an Emirati family that invested their entire family business, proceeds, about 4 million dirham, which is roughly a million US dollars, in what they thought was a legitimate real estate development project.
The company claimed to be building this luxury residential complex in Dubai, showed them beautiful renderings, took them to a construction site where some initial work was happening, the whole nine yards.
[00:04:34] Speaker B: So what happened?
[00:04:35] Speaker C: Well, the construction, it just suddenly stopped. The company offices were emptied overnight. The founders disappeared.
Later investigations revealed that the little construction that had been done was just for show. They had spent maybe 5% of investor money on actual construction. Just enough to have something to photograph for their marketing materials. The rest, poof, gone.
[00:05:05] Speaker B: And what happens to these families afterward? I mean, emotionally, psychologically.
[00:05:10] Speaker C: The psychological impact is.
Is just enormous. Sue? Many victims experience what trauma experts describe as similar to grieving.
There's denial at first, they can't believe they've been scammed. Then anger, bargaining, depression, all of it.
But there's also this added layer of shame that's particularly toxic.
Victims often blame themselves, thinking, how could I have been so stupid?
Even though, you know, these schemes are specifically designed to be convincing.
[00:05:47] Speaker B: Is there any support for these victims?
[00:05:50] Speaker C: Not nearly enough. There are some victim advocacy groups that have formed, particularly in the US and uk, and sometimes law enforcement agencies have victim services units. But by and large, people are left to deal with the aftermath on their own.
And that isolation can make the emotional trauma even worse.
[00:06:11] Speaker B: What about relationships? I imagine these losses must put enormous strain on marriages and families.
[00:06:18] Speaker C: God, yes.
I've interviewed couples who, who've divorced over this.
In one particularly tragic case, a husband had invested without fully informing his wife about the risks when they lost everything, the marriage couldn't survive, the breach of trust combined with the financial devastation.
And even in families that stay together, there's often this.
This undercurrent of resentment and blame that can poison relationships for years.
[00:06:51] Speaker B: And I imagine careers can be affected too.
[00:06:53] Speaker C: Absolutely. Some victims have to completely change their life plans. I. I spoke with A woman who had to abandon her early retirement and go back to a high stress corporate job. Another victim had to pull his kids out of college because he could no longer afford the tuition.
And there's also the, the time sink of trying to recover funds, working with authorities, possibly pursuing legal action.
It becomes almost a full time job for some victims in it sounds like.
[00:07:24] Speaker B: These scams create ripple effects that go far beyond just the financial loss.
[00:07:29] Speaker C: That's exactly right. The impacts are they're financial, emotional, physical, relational.
They touch every aspect of victims lives. And what makes it even more insidious is that many victims never come forward because of the shame.
So they suffer in silence.
Which means they don't get whatever help might be available.
And the true scope of the problem remains partially hidden.
[00:07:58] Speaker B: So Nick, given all these heartbreaking stories, what can people actually do to protect themselves? I mean, these scammers are obviously getting more and more sophisticated, right?
[00:08:10] Speaker C: So the thing is, well, there are definitely some warning signs that investors can look out for.
And, and I think the first and most important one is if the returns sound too good to be true, they probably are. You know, like anyone promising consistent returns of like 15, 20, 30%. That's just not realistic in any legitimate investment environment.
[00:08:38] Speaker B: But these companies must have some pretty convincing explanations for those high returns, don't they?
[00:08:43] Speaker C: Oh my God, yes.
They're, they're incredibly persuasive. They'll talk about, you know, proprietary algorithms or special access to markets or some revolutionary technology that no one else has. But here's the thing.
If someone really had a foolproof way to generate those kinds of returns, they wouldn't need your money in the first place. Right? They would, they would just be using their amazing system to get rich themselves.
[00:09:15] Speaker B: That makes a lot of sense. What about the pressure tactics? I've heard scammers often push people to invest quickly.
[00:09:21] Speaker C: Yeah, that's a huge red flag. Any legitimate investment opportunity will, will give you time to do your homework. But these scammers, they create this false sense of urgency.
Like this opportunity is only available for the next 48 hours or we're closing this funding round tomorrow or you know, the price is about to go up.
They don't want you to have time to think critically or consult with others.
[00:09:51] Speaker B: What kind of due diligence should people be doing before they hand over their money?
[00:09:55] Speaker C: First off, verify everything independently.
Don't just take their word for it that they're registered with regulatory authorities.
Actually check with those authorities directly and definitely look beyond their own website and marketing materials. Search for Independent reviews, news articles, anything that isn't produced by them.
[00:10:19] Speaker B: What about the people running these companies? Should investors be looking into their backgrounds?
[00:10:24] Speaker C: Absolutely.
That's actually one of the most important steps. Look up the founders and executives. Check their LinkedIn profiles, but don't stop there because those can be faked. Look for their previous companies.
See if those were legitimate.
Search for their names along with words like fraud or scam or complaint.
You'd be surprised what might pop up.
[00:10:52] Speaker B: Are there any specific documents investors should be asking for?
[00:10:55] Speaker C: Yes, definitely. Ask for audited financial statements and, and make sure they're actually audited by a reputable independent accounting firm that you can verify exists.
Ask for their corporate registration documents, their regulatory filings, their banking information.
Legitimate businesses will have no problem providing these things.
[00:11:21] Speaker B: What if someone claims they can't share certain information because it's, I don't know.
[00:11:25] Speaker C: Proprietary or something that's, that's often a huge red flag.
While there might be some truly proprietary aspects to a business, basic information about how the business operates, how it makes money, who runs it, that should never be secret.
If they're evasive about the fundamentals, that's a problem. Transparency is really, really important.
[00:11:52] Speaker B: What about the actual structure of the investment?
Are there particular things that should raise alarm bells?
[00:11:58] Speaker C: Oh, yeah, definitely. Look out for, for investment structures that seem needlessly complicated or that involve moving your money through multiple entities or jurisdictions. That complexity is often designed to make it harder to track where your money is actually going.
And be especially wary of anything involving offshore accounts in places with strict banking secrecy.
[00:12:23] Speaker B: Let's talk about the emotional side of this. These scammers seem to be really good at playing on people's emotions, right?
[00:12:30] Speaker C: They are absolute masters at it. They, they know exactly which buttons to push.
Fear of missing out is a big one. They make you feel like everyone else is getting rich from this amazing opportunity and you're going to be left behind if you don't act now.
They also appeal to people's desire to be part of something exclusive or innovative or, or revolutionary.
[00:12:55] Speaker B: So how do you guard against that emotional manipulation?
[00:12:58] Speaker C: It's really about, about taking a step back and creating some emotional distance before making any decision.
I always tell people to have a mandatory waiting period, like 48 hours minimum before investing in anything, no matter how exciting it seems. And during that time, you talk to people you trust who aren't involved in the investment.
Get outside perspectives.
[00:13:25] Speaker B: What about tech specific red flags? So many of these scams seem to involve buzzwords like AI or blockchain.
[00:13:32] Speaker C: Yeah, That's a great point.
Be extremely skeptical of companies that use a lot of technical jargon but can't explain in simple terms how their technology actually works or, or how it makes money.
Legitimate tech companies can usually explain their business model clearly, even if the underlying technology is complex.
[00:13:57] Speaker B: What should people do if they suspect they might already be involved in a scam?
[00:14:02] Speaker C: First thing, stop sending money immediately. Even if you're not 100% sure it's a scam. Then document everything.
Save all emails, messages, contracts, receipts. Record dates of phone calls, who you spoke with, what was said, and then report it to authorities as quickly as possible.
The, the faster you act, the better chance there is of recovering some funds. Though honestly, that chance is often pretty small.
[00:14:32] Speaker B: Are there any resources people can use to check investments before they commit?
[00:14:37] Speaker C: Definitely. The SEC in the US has an investment advisor search tool on their website. FINRA has Broker Check. Most countries have similar resources through their financial regulatory authorities.
There are also, you know, websites like the Better Business Bureau or various scam alert forums where people share experiences.
And don't forget plain old Google. Just searching the company name +scam or complaint can be really revealing.
[00:15:12] Speaker B: What about in the UAE specifically? Are there resources there?
[00:15:15] Speaker C: The UAE securities and Commodities Authority has resources for investors, and the Dubai Financial Services Authority maintains registers of authorized firms.
But the reality is, is that enforcement is still catching up to the problem.
So investors in the UAE need to be even more vigilant and, and maybe even more skeptical than they would be in markets with longer established regulatory frameworks.
[00:15:44] Speaker B: So, bottom line, what's your most important piece of advice for investors?
[00:15:48] Speaker C: Trust your gut. If something feels off, it probably is. And remember that, that legitimate investments don't need to rush you or pressure you.
They'll stand up to scrutiny and, and due diligence. And no matter how good an opportunity sounds, never ever invest money you can't afford to lose.
That's, that's just a fundamental rule of investing that applies everywhere, but especially in areas where scams are prevalent.
[00:16:18] Speaker B: So, Nick, let's switch gears a bit. With all these scams happening, there's gotta be some regulatory changes on the horizon, right? I mean, something's clearly not with the current system.
[00:16:30] Speaker C: Oh, yeah, absolutely. I think we're, we're definitely at a turning point for regulation in this space.
The UAE authorities are starting to recognize the scale of the problem and how it's affecting their reputation as a business hub. You know, they've been working really hard to position themselves as this global financial center. And these scams are just they're really undermining all that effort.
[00:17:01] Speaker B: What kind of changes are they implementing? Is anything actually happening on the ground?
[00:17:05] Speaker C: So the UAE recently established this new financial crime unit that specifically focused on like, investment fraud and money laundering.
And, and they've also strengthened their know your customer requirements for financial institutions, which makes it harder for scammers to open accounts using fake identities or shell companies.
But the thing is, it's still a work in progress.
[00:17:34] Speaker B: You know, are these changes actually going to make a difference though, or is it just window dressing?
[00:17:40] Speaker C: That's a really good question.
I think there's, there's definitely a genuine desire to clean things up.
The challenge is enforcement. Right. They've got these regulations on paper, but they need enough trained investigators and, and prosecutors who understand these complex financial crimes. Plus they need the political will to go after powerful people who might be involved or benefiting from these schemes.
[00:18:13] Speaker B: What about international cooperation?
I imagine these scams don't just stay within UAE borders.
[00:18:19] Speaker C: Exactly. And that's, that's where things get really complicated. These scammers are operating across multiple jurisdictions deliberately to make it harder to catch them. They might register in one country, bank in another, target victims in a third, and then hide their assets in a fourth.
So you need all these different countries, authorities working together, sharing information, coordinating investigations.
[00:18:49] Speaker B: Is that happening? Are countries actually working together on this?
[00:18:53] Speaker C: It's, it's Starting to.
The UAE has signed agreements with several countries, including the U.S. uK and Singapore, to cooperate on financial crime investigations.
And there's this global body called the Financial Action Task Force that's been putting pressure on countries to strengthen their anti money laundering frameworks. But honestly, international cooperation in financial crime is still pretty clunky and slow compared to how quickly these scammers can move money around.
[00:19:28] Speaker B: What about technology? Can't regulators use the same tech that makes these scams possible to catch the bad guys?
[00:19:34] Speaker C: Yes, that's, that's actually one of the most promising developments.
Regulatory technology, or regtech as it's called, is evolving really quickly.
We're seeing AI systems that can spot suspicious transaction patterns way faster than humans could.
Blockchain analysis tools can now trace cryptocurrency movements that scammers thought were anonymous. And there are new digital identity verification systems that make it harder to create fake Personas.
[00:20:10] Speaker B: That sounds promising, but aren't the scammers also using these technologies to stay one step ahead?
[00:20:16] Speaker C: Oh, my God, yes. It's like this constant arms race.
As soon as regulators figure out how to detect one type of scheme, the scammers evolve and find new methods.
That's why I think education and awareness are just as important as technical solutions.
Like regulators are starting to put more resources into investor education programs and, and public awareness campaigns about common scam tactics.
[00:20:47] Speaker B: What role do you think the big tech platforms should be playing in all this? Seems like a lot of these scams start with ads on social media or messaging apps.
[00:20:57] Speaker C: They absolutely need to step up.
These platforms are, they're making money from ads promoting these scams and I think they should have way more responsibility for vetting what appears on their platforms.
Some are starting to implement better systems to flag suspicious investment ads, but it's still way too easy for scammers to reach potential victims through these channels.
[00:21:27] Speaker B: Do you think we'll ever see something like, I don't know, a global regulatory framework specifically for tech enabled financial crimes?
[00:21:35] Speaker C: I think we're moving in that direction, but, but it's complicated by different countries having different legal systems, different priorities, different resources. What might work is a kind of tiered approach where there's agreement where on some basic principles and standards that everyone follows, but with flexibility in how each jurisdiction implements them. The challenge is getting everyone to agree on those standards in the first place.
[00:22:05] Speaker B: What about the startup community itself? Do legitimate startups have a role to play in cleaning up this mess?
[00:22:12] Speaker C: Absolutely they do.
I think legitimate startups and VCs should need to be much more vocal about distancing themselves from these scams.
They should be establishing and promoting best practices for transparency, for ethical fundraising, for how they communicate with investors. Because right now the line between legitimate high risk startups and outright scams has become too blurry in many people's minds.
[00:22:42] Speaker B: So looking ahead, are you optimistic about the future of regulation in this space? Do you think we'll see fewer of these scams five years from now?
[00:22:52] Speaker C: I'm.
I'm cautiously optimistic. I think the increased attention from regulators, the advances in detection technology and growing awareness among investors will make it harder for these schemes to operate.
But the sad reality is that as long as there's money to be made and vulnerabilities to exploit, scammers are going to find a way. The key is making it so difficult and risky for them that that many will decide it's just not worth it anymore.
[00:23:24] Speaker B: And I guess that means continued vigilance from everyone involved, right?
[00:23:29] Speaker C: Exactly.
It's going to take this combined effort from regulators, law enforcement, financial institutions, tech platforms, legitimate businesses and, and individual investors too.
Everyone has a part to play in making the ecosystem safer. And I really do believe we're heading in the right direction, even if progress sometimes feels frustratingly slow.
[00:23:55] Speaker B: So, Nick, let's talk about the bigger picture here. What do you think all these scams are doing to the legitimate startup scene in the uae?
I mean, there must be honest entrepreneurs trying to build real businesses there, right?
[00:24:09] Speaker C: Oh, my God, yes. That's.
That's actually one of the most tragic aspects of this whole situation.
There are so many, like, incredibly talented entrepreneurs in the UAE who are building genuine businesses, solving real problems, creating actual value, and they're. They're now fighting this uphill battle because investors have become super suspicious of anything coming out of the region that seems.
[00:24:38] Speaker B: Really unfair to the legitimate players.
[00:24:40] Speaker C: It is. It's.
It's completely unfair. I was talking to this founder last month who has this amazing healthcare AI startup, and she told me that when she mentions she's based in Dubai, she can literally see potential investors mentally check out. And, and the thing is, her technology is genuinely groundbreaking, but she's getting lumped in with all these scammers just because of her location.
[00:25:11] Speaker B: Does this create a kind of, I don't know, negative feedback loop for the region?
[00:25:15] Speaker C: Exactly what it does. It creates this vicious cycle where legitimate startups struggle to get funding, which means fewer success stories come out of the region, which further reinforces this perception that there aren't real opportunities there, which makes investors even more skeptical. And round and round it goes. It's.
It's really damaging the ecosystem that the UAE has spent billions trying to build.
[00:25:43] Speaker B: Are we seeing similar effects in other emerging markets?
[00:25:46] Speaker C: Yes, unfortunately, we are.
These kinds of scams tend to create this contagion effect where investors start applying extra scrutiny to startups from similar regions. So we're seeing this skepticism spreading to places like parts of Southeast Asia, certain African tech hubs, even some Eastern European markets.
Investors are just becoming much more cautious about putting money into regions they perceive as having weaker regulatory oversight.
[00:26:20] Speaker B: That's really concerning. Does this mean that promising innovations from these regions might never get the funding they need?
[00:26:28] Speaker C: That's exactly the risk.
And it's. It's not just about the money.
It's about access to networks, mentorship, global markets. When legitimate startups get frozen out because of where they're based, we all lose.
We lose potentially transformative technologies and solutions that could have global impact.
I mean, innovation doesn't just happen in Silicon Valley, right? But these scams are making it harder for innovation from emerging markets.
[00:27:03] Speaker B: How are the legitimate startup communities in these regions responding to this challenge?
[00:27:08] Speaker C: They're. They're getting more organized, which is encouraging.
In the uae, there's this coalition of legitimate founders and investors who have created their own set of transparency standards that go above and beyond what regulations require. They're doing things like publishing regular financial updates, having their tech claims verified by independent experts, and being super clear about their business models.
[00:27:38] Speaker B: That sounds like a step in the right direction.
[00:27:40] Speaker C: It is. And we're also seeing more regional VCs stepping up to do deeper due diligence and then vouching for the startups they invest in. They're essentially saying, we've done the homework, we've verified that this is legitimate and that kind of local validation can help. These startups then approach international investors with more credibility.
[00:28:05] Speaker B: What about the global investment community? How are they navigating this uncertainty?
[00:28:10] Speaker C: Well, the sophisticated investors are developing more, more nuanced approaches. Instead of just writing off entire regions, they're creating specialized due diligence processes for emerging markets. Some are partnering with local experts who understand the context behind better. Others are starting with smaller investments to test the waters before committing larger amounts. But the sad reality is that many smaller investors or those without these specialized resources are just. They're just staying away entirely.
[00:28:49] Speaker B: Do you think this will eventually correct itself or is this damage going to be long lasting?
[00:28:55] Speaker C: I think it's going to take time.
Trust is. Trust is just so much easier to destroy than it is to build. You know, the UAE and similar markets will need to demonstrate consistently over years that they're serious about rooting out these scams. They'll need visible enforcement actions, high profile cases where scammers actually face consequences, and a track record of protecting investors.
[00:29:24] Speaker B: And in the meantime?
[00:29:26] Speaker C: In the meantime, I think we're going to see more legitimate startups from these regions relocating to established markets, even if they maintain operations in their home countries.
We're already seeing founders from the UAE setting up their legal entities in places like Singapore, London or New York just so they can avoid that immediate stigma.
And that's unfortunate because it drains talent and capital from the local ecosystem.
[00:29:59] Speaker B: Is there anything individual investors can do to help change this situation?
[00:30:04] Speaker C: I think the most important thing is to avoid painting with too broad a brush.
Take the time to evaluate each opportunity on its own merits rather than making assumptions based on geography.
Do your due diligence, of course, but keep an open mind.
Some of the most compelling investment opportunities are in these emerging markets precisely because there's less competition for deals.
[00:30:31] Speaker B: So, Nick, I think we've covered a lot of ground today. Let's try to pull together some of the key takeaways from our discussion about these Ponzi schemes dressed up as startups in the uae.
[00:30:45] Speaker C: Yeah, absolutely. I think.
I think the first big takeaway is that, you know, con artists are getting increasingly sophisticated in how they present these scams.
They're not just like sending emails claiming to be Nigerian princes anymore.
They're.
They're building entire fake companies with slick websites and fancy offices and all the startup buzzwords to make themselves look legitimate.
[00:31:17] Speaker B: It's pretty scary how convincing they can be, isn't it?
[00:31:20] Speaker C: Terrifyingly convincing.
And that leads to our second point, which is that anyone can be vulnerable to these scams.
We're not just talking about naive or inexperienced investors here.
Some really sophisticated players have been caught up in these schemes because the fraudsters are so good at creating this illusion of legitimacy and. And this fear of missing out on the next big thing.
[00:31:50] Speaker B: What would you say is the single most important thing people should do to protect themselves?
[00:31:55] Speaker C: Due diligence. Due diligence. Due diligence. I cannot stress this enough.
If someone's promising you returns that sound too good to be true, they probably are.
And don't just take their word for anything. Verify everything independently.
Check if the people running the company actually have the backgrounds they claim. Look for audited financial statements. Talk to existing customers if you can, and. And never ever invest money you can't afford to lose.
[00:32:32] Speaker B: And I think we also talked about some of those red flags to watch out for, right?
[00:32:36] Speaker C: Oh, God, yes. Watch out for pressure tactics where they're trying to rush you into investing. Be suspicious of companies that can't clearly explain how they actually make money. Be wary of businesses that seem to grow too quickly without any clear competitive advantage. And definitely question investment opportunities where the returns seem completely disconnected from the actual economic performance of the business.
[00:33:05] Speaker B: I'm also thinking about the regulatory angle we discussed.
[00:33:08] Speaker C: Right. The regulatory environment is so important here.
What we're seeing in the UAE is this.
This gap between their ambition to become a global financial and tech hub and the actual regulatory infrastructure needed to police that ecosystem effectively.
And that gap creates opportunities for bad actors.
So as an investor, you need to factor in the strength of regulatory oversight when you're evaluating opportunities in any market.
[00:33:39] Speaker B: Any final thoughts for our listeners?
[00:33:41] Speaker C: I guess I'd just say that that while we've focused a lot on the negative today, there are still amazing legitimate investment opportunities out there, including in emerging markets like the uae.
The key is just to approach them with appropriate caution and do your homework. Behind the scam is all about helping you spot the difference between the real deals and the frauds.
[00:34:08] Speaker B: Well said, Nick. And to all our listeners, thanks so much for joining us today on behind the Scam. We hope this discussion helps you navigate the increasingly complex world of investments with a bit more confidence and skepticism where it's needed.
[00:34:28] Speaker C: And next week, we're going to be diving into something completely different but equally fascinating. We'll be looking at the rise of crypto romance scams where dating apps meet blockchain to create like this perfect storm of emotional and financial manipulation.
Trust me, you're going to want to hear this one.
[00:34:50] Speaker B: Oh, that sounds really interesting. Until then, remember to do your research and maybe think twice before sending your life savings to that charming entrepreneur you just met, no matter how revolutionary their business.
[00:35:05] Speaker C: Exactly. And if you enjoyed today's episode, please don't forget to subscribe, leave a review and and share with friends or family who might benefit from these conversations.
Your support helps us continue bringing these important topics to light.
[00:35:24] Speaker B: See you next week on behind the Scams. Now, Miles, please close out this episode for us.
[00:35:30] Speaker A: You've been listening to behind the Scams, where we shine a light on deception in the darkest corners of finance.
If today's episode left you shocked, angry, or maybe even a little more cautious, that's a good thing.
Fraudsters don't stop innovating.
But neither do we want more stories like this.
Subscribe, rate the show and share it with someone who needs to hear the truth. And for more tools, tips and real scam prevention resources, Visit us@stampoutscams.org.
