How to scam by selling people fake gold

How to scam by selling people fake gold
Scammer Jamie Campany cries about his crimes

Some fraud tips from Mr. Campany and his bogus company Global Bullion Exchange:

  • Buy phone lists with leads on good prospects.
  • Set up a boiler room operation, where your people make lots of sales calls.
  • Ignore the little old ladies – they’re too skeptical to invest over the phone.
  • Prey on upper middle class business people with big egos.
  • Convince them that metals like gold and silver are safer investments in these uncertain times.
  • If they say they have no money, tell them of course you have money. What about all those "dead dogs" you have… how about your under-performing 401k or your stocks?

But my favorite tip is how he used technology:

  • Find the richest suckers by matching phone list leads to addresses and use Google satellite images to find victims with the biggest homes. Rip off those people first.

Using these methods, Mr. Campany’s company – which invested no actual gold or silver – spent three years scamming over 1,400 people, who lost $30 million.

Con-man Mr. Campany may earn 25 years in prison. Unless he can convince the judge he’s truly remorseful.

An opposing viewpoint on "Silver and Gold"

Confessions of a Gold Scammer, ABC News>>

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