Psychology of Belief with Neal aka Fraud Guy
Kellly interviews fraud attorney Neal, head of Global Fraud Investigations and Asset Recovery at the law firm Rimón, about his 30+ year career representing receivers, trustees, banks, insurers, investors, and victims of large-scale Ponzi and other financial crimes.
In a wide-ranging discussion, Neal says men commit more fraud, explains why “clean” bankruptcy files are uncommon, and shares examples of debtors hiding assets (including collector cars and offshore trusts) and how trustees lack resources to pursue fraud.
He talks about his first major fraud work enforcing a $1.5M State Farm judgment and describes fraudster psychology as consistent with antisocial personality traits and narcissistic tendencies, arguing fraud is often about power, not money. They also discuss ethics risks for “fraud warriors,” victim belief and sunk cost, synthetic identity fraud growth, and lawyers going bad.
Connect with Neal:
https://www.linkedin.com/in/fraudattorney/
Do you know what Rimon means?
00:46 Ponzi Dinner Pick
01:45 Who Steals More
03:26 Inside Rimón Firm
06:42 Bankruptcy Fraud Tales
12:32 Trustee Life Reality
15:26 First Fraud Case
17:58 Fraud Warrior Ethics
20:17 Theranos and Dirty Tactics
23:17 Power Lawyers and Lies
24:51 Fraudster Psychology Profile
27:31 Power Over Money
28:59 Madoff And Affinity Fraud
29:57 Fraud Warrior Temptations
31:12 Accountability Versus Justice
33:00 Why Smart Victims Fall
35:54 Fraud Getting Worse
38:25 Belief Beats Rationality
40:28 Pop Culture Gets Fraud Wrong
43:30 Lawyers Going Bad
46:35 System Fails Self Policing
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