Fraudsters Unveiled: Inside the Minds of Intentional, Righteous, and Accidental Perpetrators | Kelly Richmond-Pope - a podcast by James Altucher
from 2023-03-14T07:00
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.
Fool Me Once: Scams, Stories, and Secrets from the Trillion-Dollar Fraud Industry
Watch her documentary All the Queen's Horses on Prime Video
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