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Over 40 years ago, I learned a hard but valuable lesson about investment scams. Based on what seemed like solid information and a recommendation from a trusted friend, I invested in a machine shop in Tonawanda near Buffalo, NY. Initially, the investment appeared to be highly profitable—I would invest a few thousand dollars each month and receive a 25% return the following month. This continued for several months, building my confidence.
Then came the big play: I was told that if I invested $50,000, I would receive a significant return within 30 days. That return never came. One of the owners disappeared to South America with all the company’s funds, leaving me with nothing. The scheme followed a classic pattern—gradually gaining the investor’s trust before delivering the final blow.
Scams like this happen every day, and on a much larger scale. In many ways, Elon Musk is doing something similar with the U.S. government. He presents himself as a cost-saving innovator, yet his businesses receive billions in government contracts. Are we being misled? The lesson remains: be cautious when the deal seems too good to be true. JG
