What Is Affinity Fraud and How Does It Differ From Other Types of Investment Fraud? - Transcript

For me Affinity fraud is one of the saddest forms of fraud you often see it in close-knit communities Church communities immigrant communities people that work at the same Factory I’ve even seen hospitals where you know doctors and nurses alike were all defrauded by the same people and what it is Affinity means that you have some Affinity with the person that is defrauding you so they’re from your immigrant group or they worked at your company for a long time or they’ve been the trusted advisor to the hospital for decades but sadly those people sometimes use that special trust that you give them to perpetrate a fraud I’ve seen cases where Brokers were seemed to be good people for decades and suddenly turned bad and it is very sad when somebody is using your church your job or you know your hospital to you know harm people that you’ve known for decades but it does happen and and you have to be very Vigilant with your money I always say you’re a squirrel in the woods with your nuts and if you leave them unattended or you don’t pay attention to who’s minding them you know they will be taken so you have to be very careful and infinity fraud is one of the saddest frauds that there is.