In this next episode of The Sound of the Baskerville, Chris Baskerville continues the story of Goldsky, a fraudulent investment scheme that claimed to use sophisticated algorithms and behavioural science to generate high returns for its clients.
This time, Chris talks James through 'the information memorandum' that Gold Sky used to lure investors and points out the red flags and inconsistencies that should have raised suspicion.
Listen in as Chris tells how the founder of Gold Sky, Ken Grace, uses fake credentials, copies websites, and exploits the names of celebrities and reputable firms to create a false image of legitimacy and credibility. Don't try this at home!
What's the psychology behind the investors' decisions, and the challenges and risks involved in investing in unregistered and unregulated schemes - that all too often target unsophisticated investors? Let's face it, that's most of us...