Scammers often earn victims’ trust through shared hopes, dreams, beliefs

Scammers often earn victims’ trust through shared hopes, dreams, beliefs

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Baker
In this series

Sunday: Fred Baker is serving time for his part in a Ponzi scheme, but he was just one player in a worldwide network of fraud.

Today: Four mysterious $100,000 checks to Baker’s victims coincide with another fraud case in...

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The judge seemed incredulous at Fred Baker’s confession that he had set up a Ponzi scheme to invest unwitting victims’ money in other Ponzi schemes in an attempt to “scam the scammers.”

Baker thought he knew how Ponzi schemes worked –...

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