20. Falling Victim to Inheritance Scams
It’s not uncommon to find people who lose everything because of advance fee schemes, Tarpey said. One gentleman liquidated his entire IRA trying to help someone in Nicaragua allegedly transfer an inheritance to the U.S.
The victim transferred a couple thousand dollars at a time for travel fees, bank fees and whatever the scammer asked. And, in return, he was supposed to get repaid plus make a profit. Instead, he was broke and got nothing.
“It was a little bit of greed and a little bit of trying to help someone out,” said Tarpey.
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