EXCALIBUR PRIVATE INVESTIGATION
  • Investigation
    • Cheating Spouse/Infidelity
    • Surveillance
    • Financial Fraud
    • Background/Due Diligence
    • Domestic Violence
    • Child Custody
    • Social Media/Online Dating
    • Missing Person
    • Insurance
  • Attorney Services
  • Media
  • About
  • Blog
  • Contact Us

Are you Penny Wise and Pound Foolish?

9/22/2022

0 Comments

 
Colorado Springs Private Investigator Penny Wise Pound Foolish
Many of us have heard the phrase "penny wise and pound foolish", but have you ever thought about it in the context of due diligence? Not to provide a history lesson to everyone, but this phrase has long been attributed to Benjamin Franklin when it was actually coined by Robert Burton in his 1621 work, yes that long ago, The Anatomy of Melancholy.

This phrase popped into my head when reading an article recently about a businessman who lost over $2 million dollars to a con man, for lack of a better term, who had a long history of defrauding his business partners. After the money had been lost, the defrauded businessman hired a professional investigator to see if any of the funds could be recovered, kind of "closing the barn door after the horse has bolted" to quote yet another well known phrase. The professional investigator discovered a trail of previously defrauded business parters this con man had taken to the cleaners over the years and that the $2 million dollars was long gone. 

Every time I read a tale of someone losing their hard earned money in a fraudulent scheme, my first thought is "I wonder if they did any due diligence?" In most instances I'd bet good money that they didn't. Otherwise smart business men and women try and save money when a small investment into a due diligence background check by a professional investigator could have found any red flags that exist. In the example above, by spending $3,500, the average cost for a due diligence background investigation, less than 1/4 of 1% of the $2 million lost, the defrauded businessman would still have their $2 million dollars and would have had a lot less sleepless nights that I guarantee they suffered through and probably continue to do so.

Are you in the process of entering into a business deal or other investment of any size and think you can't become a victim of fraud? Think again. Even individuals you may have known for years can be capable of defrauding you. Spend a little time, and money, and reach out to a professional investigator as a trusted adviser to make sure you don't become a victim. My firm and our team of Colorado Springs-based professional investigators have conducted numerous due diligence investigations and would be happy to discuss your needs. Just give us a call or send us a quick email and someone will respond as soon as possible. 

Lee Walters
President
EXCALIBUR Private Investigation
Colorado Springs, Colorado

www.excaliburlegalsupport.com
​719.208.4088
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Colorado Springs Private Investigator

    Archives

    January 2023
    November 2022
    October 2022
    September 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021

    Categories

    All
    Art Crime
    Background Investigation
    Bank Imposter Scams
    Con Men
    Domestic Abuse
    Due Diligence
    Employee Theft
    Equipment Review
    False Claims Act
    Identity Theft
    Insurance Fraud -Auto
    IRS Scams
    Loan Fraud
    Missing Persons
    Online Dating Scams
    Poshmark Scams
    Qui Tam
    Real Estate Scams
    Scams
    Security Cameras
    Security Tips
    Senior Citizens
    Smartphones
    Surveillance
    Technology
    Tech Support Scams
    The DIY Investigator

    Sites we like

    Crime Curious

    RSS Feed

Picture
Picture
Private Investigator in Colorado Springs
Veteran Owned Private Investigator in Colorado Springs
Colorado Springs Private Investigator
Private Investigator in the United States
Picture
Colorado Private Investigation
Major credit cards accepted by Colorado Springs Private Investigator
Colorado Springs, Colorado
Colorado # P12.0000754
719.208.4088
rlwalters@excaliburlegalsupport.com

Copyright © 2023 – All Rights Reserved - EXCALIBUR  Legal Support - Private Investigation, LLC
  • Investigation
    • Cheating Spouse/Infidelity
    • Surveillance
    • Financial Fraud
    • Background/Due Diligence
    • Domestic Violence
    • Child Custody
    • Social Media/Online Dating
    • Missing Person
    • Insurance
  • Attorney Services
  • Media
  • About
  • Blog
  • Contact Us