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Psychopaths as money managers

Some “financial investments” are nothing but Ponzi schemes. Consumer finance journalist Liz Weston writes:

While the vast majority of financial advisers and money managers are conscientious, some researchers theorize the financial industry may have a greater-than-average number of psychopaths in its midst.

Your adviser could be a psychopath, on MSN.com.

Link supplied by a Lovefraud reader.



7 Comments on "Psychopaths as money managers"

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  1. Truthspeak says:

    Donna, THANK YOU for posting this excellent article. Money, even before sex, is the envy of all spaths, IMHO. As I’ve typed, the exspath married specifically for my money and took it all without a drop of sweat.

    I had a financial advisor that was, indeed, conscientious and honest and the exspath was able to convince me that he had “dropped the ball” on a number of my investments because he “didn’t alert” me of trends, etc. He EVEN suggested that the advisor had inside information and didn’t use it to benefit my investments. Slowly, and surely, the exspath kept planting seeds of doubt about this advisor, especially when he pointed out that the advisor was being paid to look after the best interests of my portfolio……

    It all boils down to trust: trusting ANYONE with our finances can result in financial ruin. Sure, hire a financial advisor, but keep tabs on your portfolios and speak to him/her every week. READ your statements and ask questions if you don’t understand (as MOST people without an MBA don’t) the language, the numbers, etc. If you don’t receive a statement of your investments, CALL SOMEONE, ASAP! The exspath intercepted all of my financial statements and I was too sick and tired to even notice this. As a result, the financial institution met its requirement to send a printed statement to my mailing address. What happened to that statement after it left the post office was NOT the responsibility of the institution, EVEN if that institution processed forged drafts. By Law, it was MY responsibility to dispute ANY transactions, and I never knew about them. Too bad, so sad. BE PROACTIVE and involved in your own finances!

    Just as I am seeking education on sociopathy and my recovery, so must I put the time in to learn about managing my own finances and learning everything that I can about the ins and outs. It may be inconvenient to spend time learning about this, but choosing to leave my finances in the hands of someone that I trusted was one of the most stupid decisions I ever made.

    Again, thank you so much for posting this article.

    Brightest blessings



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  2. donbmyers says:

    Your financial loss could have been avoided by choosing a plan utilizing fixed and indexed annuities backed by insurance companies.

    Strangely enough brokers are only in it for the monetary reward and not ano downside approach to retirement safety.

    As spaths go, our government is a big enabler in this arena placing no limits on age or stop loss protection for those who cannot afford risk.

    I hope all is well by you.

    Don Myers

    usalifetimeincome.com



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  3. Truthspeak says:

    Donbmyers, my “financial loss could have been avoided” if I hadn’t trusted my spouse to have my best interests in mind in lieu of perpetrating a long con.

    To clarify, the exspath coerced me out of and TOOK, of his own volition, nearly 300K of my private, individual investments that, had they been left alone, would have been worth approximately 500K, today. His forgeries, alone, amounted to over 75K – a Federal Crime.

    So, I find your response and personal advertisement to be thoroughly inappropriate.

    Have a great day and I hope that Donna checks out your website for its authenticity.



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  4. Ox Drover says:

    Truthy, I agree and have notified Donna about his advertisement.



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  5. dorothy2 says:

    Truthy……if he forged your signature, a felony, I don’t understand!! I know you posted this explanation somewhere but where? Can you run the short version one more time? Ill copy and paste it to reference in the future.

    I’m just shocked for you and so very sorry Oxy. OMG. Sick



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  6. Truthspeak says:

    Dorothy2, here are the specifics:
    * Federal Prosecutor has bigger fish to fry
    * Bank is not responsible for processing forged drafts OR the ones with his own signature because the bank met it’s legal obligation by mailing a printed statement of the checking to me, each month. The bank is not responsible if the statements were intercepted. I had 60 days to contest ANY discrepancies on my account. Because I failed to do this, they are not responsible.
    * To sue his in a Civil action would only allow him to have enough debt-to-income-ratio to actually file bankruptcy and have the judgment bankrupted, as well
    * Because he took every dime that I ever had, I have no income to support myself upon – being disabled, I can find no employment that doesn’t cause me physical issues, as yet, so I need his alimony to survive. My attorney advised me AGAINST having him charged, but that may change if circumstances change.
    * There are NO punitive damages awarded in “No Fault” divorce, so he cannot be punished for what he did via the divorce.

    I hope this answers your questions.

    No, the Legal System isn’t “fair” or “just.” And, I had to accept that fact from the outset.



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  7. dorothy2 says:

    Oh Truthy……damn him. Again, I’m so sorry. WTF.
    Thank you for spelling it out again.
    {{{hugs hugs hugs}}}
    Dorothy



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  8. edge of sanity says:

    Truthspeak, I am so sorry what happened to you. The investments you had are part of the banking commissioner of your state. Federal laws come into play-get in touch with the IRS and the FBI
    because they handle this. Go into the FBI website and they have a form that you can submit for fraud, and they will contact you. Do whatever you need to do. The feds go after this. Call the IRS local office-criminal ivestigations-go onto their website, and call their regional offices listed, but remember it is the IRS criminal investigations. Protect yourself!



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