Watch Your Friends: Dangers of Financial Fraud
Last week, the Detroit Free Press reported on the wholesale robbery of an elderly couple through financial fraud. The terrible part, besides the loss of the money is the fact that it was perpetrated by a long-term friend of theirs. Just because you know someone, or are related, does not mean that you are “safe” with regard to a financial transaction.
The way to minimize risk is to always ASK and get an opinion from an outside person, a CPA, lawyer or even your local bank manager.
Ask before you give.