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Scam

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A confidence trick or confidence game (also known as a bunko, con, flim flam, gaffle, grift, hustle, scam, scheme, or swindle) is an attempt to defraud a person or group by gaining their confidence.

History

The first known usage of the term "confidence man" in English was in 1849; it was used by American press during the United States trial of William Thompson. Thompson chatted with strangers until he asked if they had the confidence to lend him their watches, whereupon he would walk off with the watch; he was captured when a victim recognized him on the street.[1]

The term 'scam' is often used to describe the 'confidence trick' employed by a 'confidence man'. The origin of this word is thought to come from the Irish phrase 'S cam é (pron. s'cam ae) meaning 'it is a trick' [2]

Vulnerability to confidence tricks

Persons of any level of intelligence are vulnerable to deception by experienced con artists. Confidence tricks exploit human weaknesses like greed, dishonesty, vanity, but also virtues like honesty, compassion, or a naïve expectation of good faith on the part of the con artist.

Just as there is no typical profile for swindlers, neither is there one for their victims. Virtually anyone can fall prey to fraudulent crimes. … Certainly victims of high-yield investment frauds may possess a level of greed which exceeds their caution as well as a willingness to believe what they want to believe. However, not all fraud victims are greedy, risk-taking, self-deceptive individuals looking to make a quick dollar. Nor are all fraud victims naive, uneducated, or elderly.[3]

Confidence tricksters often rely on the greed and dishonesty of the mark, who may attempt to out-cheat the con artist, only to discover that he or she has been manipulated into losing from the very beginning. This is such a general principle in confidence tricks that there is a saying among con men that "you can't cheat an honest man."[4]

Nevertheless, some tricks depend on the honesty of the victim. In a common scam, as part of an apparently legitimate transaction, the victim is sent a worthless check, which the victim then deposits. The victim is then urged to forward the apparent value of the check to the trickster as cash, possibly keeping a small portion of the money as a commission, which they may do before discovering the check bounces. Another fashionable scenario (as of 2006) [citation needed] has the victim recruited as a "financial agent" to collect "business debts." Paper checks are not always involved: funds may be transferred electronically from another victim.

Sometimes con men rely on naive individuals who put their confidence into get-rich-quick schemes, such as "too good to be true" investments. It may take years for the wider community to discover that such investment schemes are bogus. By the time they are discovered, many people may have lost their life savings to something in which they have been persuaded to invest.

The confidence trickster often works with one or more accomplices called shills, who help manipulate the mark into accepting the con man's plan. In a traditional confidence trick, the mark is led to believe that he will be able to win money or some other prize by doing some task. The accomplices may pretend to be random strangers who have benefited from successfully performing the task.

Notable con artists

Born in the 18th century

  • Gregor MacGregor (1786–1845) – Scottish conman who tried to attract investment and settlers for a non-existent country of Poyais[5]

Born or active in the 19th century

Born or active in the 20th century

Living people

  • Bernard Lawrence Madoff (1938) - American businessman and former chairman of the NASDAQ stock market who admitted running a $65 billion Ponzi scheme. He started the Wall Street firm Bernard L. Madoff Investment Securities LLC in 1960 and was its chairman until December 11, 2008, when he was arrested and charged with securities fraud.
  • Bon Levi (1943) - Aka Ron the Con and Ronald Frederick. Arguably Australia's most notorious conman who has tricked Australian and US citizens out of millions of dollars by enticing them to invest in scam franchise businesses. He has been jailed both in Australia and the United States.
  • Casey Serin (1982) - self-confessed mortgage fraudster who became the "poster child" of the housing bubble.
  • Clifford Irving (1930) – US writer, best known for an "authorized autobiography" of Howard Hughes that turned out to be a hoax
  • Kevin Trudeau (1963) – US writer and billiards promoter, convicted of fraud and larceny in 1991, known for a series of late-night infomercials and his series of books about "Secrets 'they' don't want you to know about."
  • Frank Abagnale Jr. (1948) – former US con artist, check forger and impostor; his autobiography, Catch Me If You Can, was made into a movie[13]
  • Gert Postel (1958) – German medical con, a simple postman who for decades pretended to be a medical doctor, worked from 1995 for almost 2 years as a psychiatrist in a small province hospital in Saxony
  • James Arthur Hogue (1959) – US impostor who most famously entered Princeton University by posing as a self-taught orphan[14]
  • Robert Hendy-Freegard (1971) — British con artist who kidnapped people by impersonating an MI5 agent and conned them out of money; he was convicted in 2005[15]
  • Lou Pearlman (1958) — US businessman and manager of boy bands, sentenced to 25 years in 2008 for operating a Ponzi investment scheme

Psychopathology

See also

Further reading

  • Ball, J. Bowyer (1982). Cheating and Deception (reprint 1991). New Brunswick (USA), London (UK): Transaction Publishers. ISBN 0-88738-868-X. {{cite book}}: External link in |title= (help); Unknown parameter |coauthors= ignored (|author= suggested) (help)
  • Blundell, Nigel (1984) [1982]. The World's Greatest Crooks and Conmen and other mischievous malefactors. London: Octopus Books. ISBN 0-7064-2144-2.
  • Dillon, Eamon (2008) [2008]. The Fraudsters: Sharks and Charlatans - How Con Artists Make Their Money. Merlin Publishing. ISBN 978-1-903582-82-4.
  • Ford, Charles V. (1999) [1999]. Lies! Lies!! Lies!!!: The Psychology of Deceit. American Psychiatric Publishing, Inc. ISBN 978-0-880489-97-3. {{cite book}}: External link in |title= (help)
  • Henderson, Les (2000). Crimes of Persuasion: Schemes, scams, frauds. Coyote Ridge Publishing. ISBN 0-9687133-0-0. {{cite book}}: External link in |title= (help)
  • Kaminski, Marek M. (2004). Games Prisoners Play. Princeton: Princeton University Press. ISBN 0-691-11721-7. {{cite book}}: External link in |title= (help)
  • Maurer, David W. (1999) [1940]. The Big Con: The Story of the Confidence Man and the Confidence Game (reprinted). New York: Bobbs Merrill / Anchor Books. ISBN 0-385-49538-2. {{cite book}}: External link in |title= (help)
  • Maurer, David W. (1974). The American Confidence Man. Springfield: Charles C. Thomas, Publisher. ISBN 0-398-02974-1. {{cite book}}: External link in |title= (help)
  • Sutherland, Edwin Hardin (1937). The Professional Thief (reprint 1989). Chicago: University of Chicago Press. ISBN 978-0-226-78051-1. {{cite book}}: External link in |title= (help)

References

  1. ^ Karen Halttunen, Confidence Men and Painted Women, p 6 ISBN 0-300-02835-0
  2. ^ Daniel Cassidy: "How the Irish invented Slang", page 244, CounterPunch Press, 2007, ISBN 978-1-904859604
  3. ^ crimes-of-persuasion.com Fraud Victim Advice / Assistance for Consumer Scams and Investment Frauds
  4. ^ A Conversation with James Swain online
  5. ^ "Document of the Month January 2005". The Scottish Executive. 2005. Retrieved 19 August. {{cite web}}: Check date values in: |accessdate= (help); Unknown parameter |accessyear= ignored (|access-date= suggested) (help); Unknown parameter |month= ignored (help)
  6. ^ "Arrest of the Confidence Man". New York Herald. 1849. Retrieved 19 August. {{cite web}}: Check date values in: |accessdate= (help); Unknown parameter |accessyear= ignored (|access-date= suggested) (help)
  7. ^ Maurer, David W. (1940), The Big Con: The Story of the Confidence Man and the Confidence Game, Bobbs Merrill, ISBN 0-7869-1850-8 {{citation}}: Check |isbn= value: checksum (help)
  8. ^ "For You, Half Price". The New York Times. 1849. Retrieved 19 August. {{cite web}}: Check date values in: |accessdate= (help); Unknown parameter |accessyear= ignored (|access-date= suggested) (help)
  9. ^ Weil, Joseph (1948), "Yellow Kid" Weil: The Autobiography of America's Master Swindler, Ziff-Davis, ISBN 0-7812-8661-1
  10. ^ Zuckoff, Mitchell (March 8 2005), Ponzi's Scheme: The True Story of a Financial Legend, Random House, ISBN 1-4000-6039-7 {{citation}}: Check date values in: |date= (help)
  11. ^ Johnson, James F.; Miller, Floyd (1961), The Man Who Sold the Eiffel Tower, Doubleday
  12. ^ "The Fund Industry's Black Eye". Brian Trumbore, StocksandNews.com. 2002-04-19. Retrieved 19 August. {{cite web}}: Check date values in: |accessdate= (help); Unknown parameter |accessyear= ignored (|access-date= suggested) (help)
  13. ^ Frank W. Abagnale Jr. (1980). Catch Me if You Can. New York: Simon & Schuster. ISBN 0-671-64091-7. {{cite book}}: Unknown parameter |coauthors= ignored (|author= suggested) (help)
  14. ^ "Princeton 'Student' Gets Jail Sentence". The New York Times. 1992-10-25. Retrieved 19 August. {{cite web}}: Check date values in: |accessdate= (help); Unknown parameter |accessyear= ignored (|access-date= suggested) (help)
  15. ^ "Fake spy guilty of kidnapping con". BBC. 2005-06-23. Retrieved 19 August. {{cite web}}: Check date values in: |accessdate= (help); Unknown parameter |accessyear= ignored (|access-date= suggested) (help)
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