How a Scam Spreads

A good scam works like a magic trick. There’s a beautiful, complex story being sold, but the truth is disappointingly simple.

The Oman Ghana Trust Fund raised hundreds of millions of dollars. Investors hoped their money would help unlock Ghana’s inheritance and billions of dollars worth of gold. Many were sold 10-to-1, even 100-to-1 returns on this promise. 

Yepoka Yeebo is the author of “Anansi’s Gold: The Man Who Looted the West, Outfoxed Washington, and Swindled the World.” Ricky Mulvey caught up with Yeebo to discuss:

- How a scammer builds credibility.
- The investor biases can lead someone to be defrauded.
- How the money in the trust fund scam’s scheme actually disappeared.

Host: Ricky Mulvey
Guest: Yepoka Yeebo
Producer: Deidre Woollard
Engineer: Tim Sparks