On “Sure Things”
How to Learn Their Real Character
The cleverness and boldness with which the up-to-date investment swindler plies his craft are almost incredible. Wherever you find a fraudulent scheme you will find both of these elements present in some degree—but the comparative proportion of one to the other is generally determined by the element of time of operation.
For example, if the projectors of a scheme are old hands at the game and have established records of the wrong sort, then the idea of quick results is not only attractive, but often imperative. There are many “old offenders” in the profession of investment swindling who have been convicted and have “done time” in jails and penitentiaries, but have not yet learned to prefer straight to crooked finance.
Men of this character realize that a “quick getaway” is a cardinal essential of success; they must complete the transaction and get in the harvest before there is time for the public to wake up and do any investigating.
The length to which the bolder spirits in this class will go almost surpasses credibility. Here is an example, discovered by Detective Wooldridge of Chicago, of the tricks to which they will resort in order to create the impression of having the backing of men or institutions of strength and character:
Through introduction by social friends, the local representative of an investment scheme was able to open a checking account with a banking and trust company in a big city—a company of such high standing that it is very widely known outside of financial circles and among people of small means. Its endorsement was worth “ready money” to any enterprise, and the fact was keenly appreciated by the “fiscal agents” of the Brite & Fair Bonanza Company.
After the opening of his personal checking account the fiscal agent lost no time in cultivating the acquaintance of the trust officer of the banking institution, which did a very large business in the discharge of trusts. One day the depositor came to this officer and explained that he had a very simple little trust which he wished to have executed. Finding it necessary to leave the city for a few days, he wished to provide for the delivery of a sealed package, containing “valuable papers,” to a man whose name and personal description was given. The person to call for the package would leave a certified check, in the amount of $1,000, which was to be placed to the credit of the “fiscal agent” of the Brite & Fair Bonanza Company, whose business connections were unknown to the trust officer of the banking and trust company.