Randall Smith
speaker
49 appearances
1 recordings
1 series
first heard Mar 2024
last heard Mar 2024
Randall Smith’s voice in public audio — every appearance, attributed to the second.
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Appearances
I've talked to a group of victims that had 29 members and they've lost a collective $3.2 million.
And some of them have lost $100,000 or $45,000, but others have lost more.
And I talked to somebody who had lost $1.3 million and it was all the money she and her husband had.
And they're going to have to take Social Security early and maybe even go back to work.
They were retired.
You would think, with all their billions of dollars in net worth, that they would be able to get these fake ads taken down immediately.
But in truth, when they go to Facebook, it's not as easy.
And it might take weeks and weeks for Facebook to take down the phony ads.
And as soon as it happens, there'll be a new phony ad that pops up.
So the people at Ackman's company found 90 different scam ads and they say it's like whack-a-mole.
They can get one taken down and another one pops up.
The ways to be able to spot a scam ad is that if it's too good to be true, if they say this stock is going to go up 25 percent next week or I made 47 percent with my recommendations last month, which is the way these fake ads read, a legitimate ad will be a lot more restrained.
Sometimes the names at the top of these ads are spelled wrong.
So the scammers will spell the famous investor's name, but it'll be missing a letter.
And that way they can evade detection on Facebook for a while.
And if you're clicking on a WhatsApp group and you wind up entering a group, to me, that's a warning sign that you might not be safe because some of the people...
in these groups are fake people.
So they're like bots or they're scammers who are posing as your fellow investors.
And they're telling you, oh yeah, last week I made 25%, but it's all bogus and it's designed to get you to put up more money.
I was looking at my Facebook feed and I'm in a couple of investing groups.
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