FLAMBOYANT financier and cricket entrepreneur Sir Allen Stanford faced a US judge overnight accused of running a $US7 billion pyramid scheme. http://www.theaustralian.news.com.au/business/story/0,28124,25663403-643,00.html "After being hit by civil charges by the SEC in February, Mr Stanford protested his innocence. In a tearful interview, he told ABC News: "I would die and go to Hell if it's a Ponzi scheme." Also indicted overnight were Laura Predergest-Holt, 35, the group's chief investment officer, who was already facing obstruction charges; James Davis, the chief financial officer; Gilberto Lopez, 66, the chief accounting officer and Mark Kuhrt, 37, the firm's global controller. Bruce Perraud, who worked in the Fort Lauderdale office, was charged with allegedly destroying documents. "
You wonder why people get conned.Here is a scam that i came across 10 years ago in the uk equivelant of Home Depot car park which i described in detail to a friend - and he still fell for it days later! 2 guys in expensive looking suits drive up to you in a late model BMW.The passenger shows you an advert for a very expensive watch in something like porsche in house magazine. First clue,it's a prestige but low circulation magazine.. 2nd clue,well there's no free lunch in this world. Then he shows you a fake biz card and tells you some not very credible story why he'll let you have the watch cheap.I guess they just rely on all the expensive props to disengage common sense from your brain. So,buy cheap watches,place advert with high price tag hire a car look smart print some cards....the watch stopped working within a week.
David Mamet explored the confidence trick as you describe it as well as anyone has ever explored it theatrically. I raise my glass to David Mamet.