A Louisiana couple pleaded guilty in a $100 million mail fraud scheme. One of the defendants admitted that she conspired with an insurance agent in order to obtain millions in life insurance policies. She did this by increasing her reported net worth and her annual income. The insurance agent was also charged with mail fraud and additionally, money laundering. The man allegedly inflated his client’s financial information to obtain more than $100 million selling life insurance policies.
Fraud expert Linda Webb, aka The Fraud Dog, says that mail scams can be very profitable for the fraudster. Mail scams can reach out to large targeted groups of people. These scams are normally too good to be true, offering outrageous deals. The scams typically offer the victim something that is concerning them at that time. Fraudsters love to play upon your emotions. Offering amazing, unbelievable, affordable deals and programs is not real so you should never jump quickly. Often times the fraudster will ask you to invest quickly, creating a sense of urgency. The end result is typically throwing your money right into the fraudster’s pocket. In the end, you get nothing. Do your due diligence, take your time, and ask for references. Fraudsters won’t hang around if you tell them you need to do some background investigations on the deal. Fraudsters don’t like when people move slow, as they are typically quick-hitters. So when in doubt or when the deal sounds to-good-to-be-true, slow down and think twice says Linda Webb.
To report potentially fraudulent activity, contact Linda Webb aka The Fraud Dog, leading fraud expert at 1-855-FRAUD-DOG.