RadioWest (M-F @ 11AM & 7PM)
Thu June 24, 2010
6/25/10: Faith and Fraud
By Jennifer Napier-Pearce
Salt Lake City, Utah – When a friend at church gives a low-risk investment tip, many jump at the chance to get ahead without doing due diligence. This so-called "affinity fraud" exploits networks built on trust and the losses can be massive. In Utah, over 100 cases of investment fraud are being investigated involving 4,400 victims and $1.4 billion in losses. And the cases keep coming. Friday, Jennifer Napier-Pearce talks with experts about why investors keep falling for schemes that are too good to be true.
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