Our founder and President, R. Lee Walters, was interviewed on KOAA News, Colorado Springs, Colorado regarding a nationwide scam and how to protect yourself. See it HERE
Our founder and President, R. Lee Walters, interviewed on KOAA in Colorado Springs, Colorado3/11/2025
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 Insurance fraud is a widespread issue affecting individuals, businesses, and insurers, costing billions of dollars annually. To protect your business from fraudulent claims or uncover false claims against you, it's crucial to partner with experienced professionals who know how to navigate these complex investigations. EXCALIBUR Private Investigation is proud to offer our extensive expertise in handling insurance fraud cases throughout Colorado, New Mexico, and South Carolina.
Over Three Decades of Investigative Excellence At EXCALIBUR Private Investigation, we bring over three decades of investigative experience to every case. Our team includes former FBI agents with federal investigative experience as well as professional private investigation, providing us with unique insights and unmatched skills in fraud detection and prevention. Whether it’s workers' compensation, auto, property, or health insurance fraud, we have the knowledge and resources to gather the evidence necessary to expose fraudulent claims. Our team operates in multiple states, allowing us to serve a wide range of clients and jurisdictions. Tailored Investigative Solutions Insurance fraud can take many forms, from staged accidents to exaggerated or falsified claims. Our investigators are trained in various methods, including surveillance, interviews, and digital forensics, to uncover the truth and provide indisputable evidence. We work closely with insurance companies, legal teams, and corporate clients to deliver timely, thorough investigations that help mitigate risks and protect assets. Why Choose EXCALIBUR Private Investigation?
Contact Us For expert assistance with insurance fraud investigations, contact EXCALIBUR Private Investigation:
Learn more about how we can assist with your investigation needs by visiting our website: www.excaliburlegalsupport.com.  When searching for a private investigator, many people rely on Google reviews to help make an informed decision. However, not all reviews are genuine, and some investigators will attempt to boost their reputation, especially when it's bad in the industry, with fake reviews. Misleading reviews can lead to poor hiring decisions and potential financial or legal issues for unsuspecting clients. In the private investigation industry, many clients are uncomfortable leaving reviews due to the very sensitive nature of the services a professional private investigation firm, such as EXCALIBUR Private Investigation, provides. If a firm has hundreds of reviews, you should be very suspicious of that fact alone! Here’s how to spot fake reviews on a private investigator’s Google page and protect yourself from hiring the wrong professional. And always remember, there is no substitute for experience, no matter how hard some private investigators will go to cover up their lack of it.
1. Overly Positive and Generic Language Fake reviews often use glowing but vague language. Phrases like “best PI ever,” “outstanding service,” or “solved all my problems” with little or no specific details about the investigation raise red flags. Genuine reviews typically include personal details about the experience, such as what kind of case was involved or how the investigator helped resolve specific issues. If a review reads like a general endorsement rather than a real account, it's probably fake. 2. Unnatural Patterns in Review Frequency Look at how often reviews are posted. If you notice a large number of reviews being posted in a short amount of time, particularly after a long period of inactivity, it’s suspicious. This probably indicates the investigator is padding their reviews with fake ones. A steady, organic flow of reviews over time is more likely to reflect genuine customer feedback. 3. Profiles with Minimal Activity Check the profiles of people leaving reviews. Fake reviews are often posted by accounts that have little to no activity beyond one or two reviews. If the reviewer has only ever left one review, especially for the PI in question, and has no other visible online activity, it’s a sign the account was probably created just to leave a fake review. Genuine reviewers usually have a more diverse review history across multiple businesses. 4. Suspicious Similarities in Language Fake reviews are sometimes generated or written by the same person or group, resulting in striking similarities in phrasing, tone, or structure. If several reviews sound alike or use the same adjectives and descriptions, they may have been fabricated. Multiple reviews that all use phrases like “highly recommend,” “very professional,” or “will hire again” without giving specific details about the service are often copy-paste jobs. We've noticed that numerous competitor's reviews appear to have copy-paste reviews. 5. Lack of Verifiable Details A legitimate review typically includes some specifics about the investigator’s work. Look for mentions of how the PI handled the case, communicated with the client, or produced results. Fake reviews tend to avoid specifics and instead focus on making the business sound perfect. Without verifiable details like case types, timeframes, or communication methods, the review could easily be fabricated. 6. Overcompensation for Bad Reviews If a private investigator has a negative review and suddenly an influx of glowing reviews appear shortly afterward, it's probably an attempt to drown out the negative feedback. A sharp spike in positive reviews after a critical one is a potential sign that the investigator is trying to artificially inflate their rating. Pay attention to the timing of reviews and look for this pattern. 7. Discrepancy Between Reviews and Reality If the reviews are overwhelmingly positive but don’t seem to match the PI’s website, social media, or overall reputation, be cautious. A business with a below-average online presence or an outdated website that suddenly has numerous five-star reviews may not be trustworthy. The investigator’s reputation should align with the tone of their reviews. If there’s a noticeable disconnect, it’s worth questioning the authenticity of the feedback. 8. Overly Emotional or Extreme Reviews While positive reviews can certainly express strong satisfaction, overly emotional or extreme reviews often feel manufactured. Reviews that use exaggerated language such as “life-changing,” “miracle worker,” or “unbelievable results” may be suspect. On the flip side, if the negative reviews are equally extreme without providing specific examples of issues, they could be fake negative reviews left by competitors. At EXCALIBUR we've had competitors who don't have near the level of experience our firm has, leave fake reviews that are normally taken down by Google once they are reported. Every once in awhile a fake review may be left up by Google for whatever reason including from an account titled Bleep Bloop, obviously a fake account, but which, through investigation, we were able to identify the competitor and are in the process of taking legal action against that person. 9. Check for Verified Purchase or Service Google doesn’t always flag whether a review comes from a verified user who actually used the service, but you can check if the PI responds to reviews in a professional manner. If the investigator thanks clients by name or references the case (without violating confidentiality), it suggests the reviews are real. Investigators who leave generic responses to reviews, especially positive ones, may not actually know the reviewer, indicating those reviews could be fake. How to Protect Yourself from Fake Reviews Here are some ways you can guard against being misled by fake reviews when choosing a private investigator:
Conclusion Fake reviews can create a false sense of security and lead you to hire a private investigator who may not be as qualified or professional as they appear. By spotting these red flags and taking steps to verify the authenticity of online feedback, you can avoid being misled and find the right investigator for your needs. Don't rely solely on Google reviews when deciding who to hire. At EXCALIBUR Private Investigation we are one of the most experienced private investigation firms in the country. We are happy to discuss our lengthy qualifications with any potential client. Firms that don't have the experience ours does, will do everything they can to steer away from a conversation about their experience. If you're looking for a professional private investigation firm, give us a call or fill out our contact form and one of our experienced private investigators will schedule a free, no-obligation, consultation with you. We have offices in Colorado, New Mexico and South Carolina.  At EXCALIBUR Private Investigation are investigators are constantly staying on top of the latest scams that could potentially affect our clients. In the age of Artificial Intelligence (AI), advancements in technology have brought about both incredible opportunities and alarming threats. One of the most recent and concerning trends is voice cloning scams. With AI-based tools capable of mimicking human voices with astonishing accuracy, scammers are finding new ways to exploit this technology for financial gain.
This article explores how voice cloning scams work, the potential dangers they pose, and practical steps you can take to protect yourself and your loved ones. What Are Voice Cloning Scams? Voice cloning is a form of AI technology that captures and reproduces a person’s voice using a few samples of speech. With just a short audio recording, AI tools can generate a replica of a person’s voice, complete with intonation, pitch, and cadence. Scammers use this technology to impersonate individuals—often family members, friends, or business associates—in an attempt to trick people into sending money or disclosing sensitive information. In a typical scam, a victim might receive a call from what sounds like a loved one in distress, urgently asking for money or help. Here’s a real-world example:
The Threats and Risks of Voice Cloning Scams Voice cloning scams pose several unique threats: 1. Emotional manipulation: Scammers exploit emotions by mimicking voices of loved ones in distressing situations. This makes it difficult for victims to think clearly before responding. 2. Identity theft: Beyond immediate financial loss, voice cloning can contribute to broader identity theft. Scammers may use the cloned voice to access bank accounts, healthcare records, or other sensitive personal information. 3. Financial losses: Victims may be coerced into sending large sums of money via wire transfers, cryptocurrency, or other untraceable payment methods, making recovery difficult. 4. Reputational damage: In business settings, voice cloning can be used to impersonate executives or employees, leading to fraudulent transactions or tarnished reputations. How to Protect Yourself from Voice Cloning Scams While the technology used in these scams is sophisticated, there are several ways to guard against falling victim to a voice cloning attack. 1. Be skeptical of urgent requests for money: If you receive a distressing call from a friend or family member urgently requesting money, take a moment to pause and verify the situation. Scammers rely on a victim’s emotional reaction to make decisions quickly.
2. Establish a family code word: Create a secret family code word or phrase that is shared only with close family members. If anyone calls claiming to be in an emergency, you can ask for the code word. If they don’t know it, you’ll know it’s a scam. 3. Limit voice recordings posted online: Be cautious about how much of your voice is publicly accessible. Scammers often use recordings from social media platforms, podcasts, or other publicly shared media to generate clones. Limit the amount of personal voice content you post, especially on unsecured platforms. 4. Utilize multi-factor authentication (MFA): For any account or service where your voice may be used for verification, consider using multi-factor authentication. This adds an extra layer of security, requiring not only your voice but also another form of identification, such as a code sent to your phone or an email verification. 5. Use verification services: Some companies provide services that can verify the authenticity of voice calls. These systems analyze a voice for digital manipulation and can help prevent cloning attacks in high-risk environments, such as financial institutions or corporate settings. 6. Educate and spread awareness: Make sure your family and friends are aware of voice cloning scams. Discuss the risks and share practical prevention methods. The more people understand this threat, the harder it becomes for scammers to succeed. 7. Stay informed: As AI technology evolves, so do the scams that use it. Stay updated on new tactics and tools that scammers are using and be proactive in adjusting your security measures. What to Do if You’re a Victim If you suspect you’ve been targeted by a voice cloning scam:
Conclusion Voice cloning scams represent a new frontier in cybercrime, leveraging advanced AI to manipulate victims emotionally and financially. By being vigilant, implementing safety measures, and staying informed, you can reduce your risk of becoming a victim. While AI has the potential to transform many industries, it’s crucial to recognize and prepare for the darker side of technological advancements. The best defense against these scams is awareness and skepticism. Stay cautious and make it difficult for scammers to exploit your trust. If you’ve been contacted by a family member, but something doesn’t seem quite right. Contact one of our investigators at EXCALIBUR Private Investigation and let us access the situation. We have professional private investigators available in Colorado, New Mexico and now in South Carolina. You can call us at one of our convenient telephone numbers or fill out our contact form on the website.  In the ever-evolving landscape of digital scams, a new and insidious tactic has emerged, targeting unsuspecting individuals with threats involving photos. At EXCALIBUR Private Investigation we're averaging about 5 calls a week from victims, and potential victims, of this scam. The scam involves scammers sending explicit or compromising photos to an unknown party and then threatening to report these photos to law enforcement if the victim does not comply with their demands claiming that they are of an underaged minor, usually female. This scam not only exploits the fear and vulnerability of individuals, but also highlights the increasing sophistication of cybercriminals in the digital age.
How the Scam Works The scam typically begins with the victim receiving unsolicited messages from an unknown number or social media account. These messages often include explicit or compromising photos that the victim doesn't recognize. The scammer then claims that the photos are of a minor and threatens to report them to law enforcement or publicly expose them unless a ransom is paid. In some cases, the scammer may also threaten to send the photos to the victim's family, friends, or employer, adding further pressure to comply with their demands. The Psychological Impact One of the most troubling aspects of this scam is the psychological impact it can have on victims. The fear of being falsely accused of a crime or having one's reputation tarnished can be overwhelming. Victims may feel trapped, isolated, and unsure of where to turn for help. The scammers exploit these emotions to their advantage, creating a sense of urgency and desperation that can lead victims to comply with their demands without seeking proper assistance or verification. Protecting Yourself from Photo Threat Scams
Raising Awareness Public awareness is crucial in combating this new wave of digital extortion. By educating individuals about the tactics used by scammers and encouraging them to report suspicious activity, we can collectively reduce the effectiveness of these scams. Community organizations, schools, and workplaces should consider hosting workshops or informational sessions to inform people about the risks and preventive measures associated with digital scams. Conclusion The photo threat scam is a stark reminder of the lengths to which cybercriminals will go to exploit and manipulate individuals. By staying informed, vigilant, and proactive, we can protect ourselves and our communities from falling victim to these malicious tactics. Remember, the key to combating digital scams lies in awareness, education, and a united front against cybercrime. If you have any questions about this scam, or any other issue you're looking for help with, contact one of our experienced private investigators at 719-208-4088, 505-208-6400 or 803-806-7800 or fill out our contact form located under the Contact tab of our website.  Private investigators play a crucial role in uncovering financial fraud and protecting the interests of individuals, businesses, and organizations. With their specialized skills, knowledge, and resources, they assist in detecting fraudulent activities, gathering evidence, and presenting a strong case for legal action. In this article, we will explore the role of private investigators in investigating financial fraud and how they contribute to maintaining the integrity of the financial system.
Financial fraud encompasses a wide range of illegal activities, such as embezzlement, money laundering, insider trading, Ponzi schemes, and identity theft, among others. These acts can cause significant harm to individuals and businesses, leading to financial losses, reputational damage, and even bankruptcy. Private investigators, such as those who are part of the EXCALIBUR Private Investigation team, serving the states of Colorado, New Mexico and South Carolina, are often hired to identify perpetrators, collect evidence, and help victims seek justice. One of the key strengths of our private investigators is their ability to conduct discreet and confidential investigations. They have the expertise to navigate complex financial transactions, analyze records, and follow the money trail. They employ various techniques, including surveillance, interviews, background checks, and forensic accounting, to uncover fraudulent schemes and trace the flow of illicit funds. By utilizing their networks and resources, private investigators can access information that is not readily available to the public, which can be instrumental in unraveling financial fraud. EXCALIBUR’s investigators also collaborate closely with law enforcement agencies, regulatory bodies, and legal professionals in financial fraud cases. They work hand-in-hand with these entities to share information, provide expert analysis, and strengthen the overall investigation. This collaboration ensures that all relevant aspects of the case are thoroughly examined and that the evidence gathered meets the required legal standards. We often act as liaisons between victims and law enforcement, bridging the gap and facilitating effective communication. In addition to their investigative skills, our professional private investigators bring a unique perspective to financial fraud cases. They possess a deep understanding of human behavior, motivations, and patterns, allowing them to anticipate the actions of fraudsters and identify potential vulnerabilities in financial systems. Their expertise in risk assessment enables them to provide valuable recommendations to individuals and organizations to prevent future fraud occurrences. By conducting comprehensive due diligence and implementing robust internal controls, private investigators help mitigate the risk of financial fraud. Moreover, private investigators are adept at presenting their findings in a clear and concise manner. They compile comprehensive reports and, if necessary, testify in court as expert witnesses. Their ability to communicate complex financial concepts in a way that is understandable to non-experts is crucial for legal proceedings. Their testimony often serves as a critical component in securing convictions and ensuring that justice is served. In conclusion, private investigators play a vital role in investigating financial fraud. Their specialized skills, resources, and collaboration with law enforcement agencies contribute to the detection and prevention of fraudulent activities. By diligently following the money trail, conducting thorough investigations, and providing expert analysis, private investigators assist in safeguarding the financial system and protecting the interests of individuals and businesses. Their efforts in uncovering financial fraud are essential in maintaining the integrity of the financial sector and ensuring that those responsible are held accountable. Have you been a victim of financial fraud or are you about to enter into a financial arrangement and want to make sure the other party doesn’t have any skeletons in their closet? Contact EXCALIBUR Private Investigation and let us put our 30+ years of federal law enforcement (FBI) and private investigation experience to work on your case. We’ll find the answers you need. Call us today at 719.208.4088, 505.208.6400 or 803.806.7800 or fill out our contact form and a professional private investigator will be happy to discuss your case with a no-obligation, free consultation. Lee Walters President-Lead Investigator  Senior citizens, unfortunately, are the most targeted segment of society by criminals/fraudsters. During my 24+ years in federal law enforcement, I had many cases where senior citizens contacted us with information regarding this scam or that one. Unfortunately, often by the time I got involved their money or property was long gone along with the criminal who fleeced them. Not only do the dregs of society target senior’s wallets, but they also target their homes. Grandma & grandpa have a high rate of fear of being victimized, and rightfully so, and can easily fall into isolating themselves as a means of protection.
Why are seniors more vulnerable to being taken advantage of? There are many reasons including the fact that many of them live in isolated conditions and may not get the kind of communication with others that they can run things by. Senior citizens also have, naturally, a decline in their cognitive and physical abilities to varying degrees and may not know about the latest technological advancements, such as residential security systems which could make them safer and less prone to being taken advantage of. The FBI lists the following schemes that senior citizens should be aware of: Health Care Fraud or Health Insurance Fraud Medical Equipment Fraud Equipment manufacturers offer “free” products to individuals. Insurers are then charged for products that were not needed and/or may not have been delivered. “Rolling Lab” Schemes Unnecessary and sometimes fake tests are given to individuals at health clubs, retirement homes, or shopping malls and billed to insurance companies or Medicare. Services Not Performed Customers or providers bill insurers for services never rendered by changing bills or submitting fake ones. Medicare Fraud Medicare fraud can take the form of any of the health insurance frauds described above. Senior citizens are frequent targets of Medicare schemes, especially by medical equipment manufacturers and distributors who offer seniors free medical products in exchange for their Medicare numbers. Because a physician has to sign a form certifying that equipment or testing is needed before Medicare pays for it, con artists fake signatures or bribe corrupt doctors to sign the forms. Once a signature is in place, the manufacturers bill Medicare for merchandise or service that was not needed or was not ordered. Tips for Avoiding Health Care Fraud or Health Insurance Fraud: • Never sign blank insurance claim forms. • Never give blanket authorization to a medical provider to bill for services rendered. • Ask your medical providers what they will charge and what you will be expected to pay out-of-pocket. • Carefully review your insurer’s explanation of the benefits statement. Call your insurer and provider if you have questions. • Do not do business with door-to-door or telephone salespeople who tell you that services of medical equipment are free. • Give your insurance/Medicare identification only to those who have provided you with medical services. • Keep accurate records of all health care appointments. • Know if your physician ordered equipment for you Counterfeit Prescription Drugs Tips for Avoiding Counterfeit Prescription Drugs: • Be mindful of appearance. Closely examine the packaging and lot numbers of prescription drugs and be alert to any changes from one prescription to the next. • Consult your pharmacist or physician if your prescription drug looks suspicious. • Alert your pharmacist and physician immediately if your medication causes adverse side effects or if your condition does not improve. • Use caution when purchasing drugs on the Internet. Do not purchase medications from unlicensed online distributors or those who sell medications without a prescription. Reputable online pharmacies will have a seal of approval called the Verified Internet Pharmacy Practice Site (VIPPS), provided by the Association of Boards of Pharmacy in the United States. • Be aware that product promotions or cost reductions and other “special deals” may be associated with counterfeit product promotion. Funeral and Cemetery Fraud Tips for Avoiding Funeral and Cemetery Fraud: ▪ Be an informed consumer. Take time to call and shop around before making a purchase. Take a friend with you who may offer some perspective to help make difficult decisions. Funeral homes are required to provide detailed general price lists over the telephone or in writing. ▪ Educate yourself fully about caskets before you buy one, and understand that caskets are not required for direct cremations. ▪ Understand the difference between funeral home basic fees for professional services and any fees for additional services. ▪ Know that embalming rules are governed by state law and that embalming is not legally required for direct cremations. ▪ Carefully read all contracts and purchasing agreements before signing and make certain that all of your requirements have been put in writing. ▪ Make sure you understand all contract cancellation and refund terms, as well as your portability options for transferring your contract to other funeral homes. ▪ Before you consider prepaying, make sure you are well informed. When you do make a plan for yourself, share your specific wishes with those close to you. ▪ As a general rule governing all of your interactions as a consumer, do not allow yourself to be pressured into making purchases, signing contracts, or committing funds. These decisions are yours and yours alone. Fraudulent “Anti-Aging” Products Tips for Avoiding Fraudulent “Anti-Aging” Products: ▪ If it sounds too good to be true, it probably is. Watch out for “Secret Formulas” or “Breakthroughs.” ▪ Don’t be afraid to ask questions about the product. Find out exactly what it should and should not do for you. ▪ Research a product thoroughly before buying it. Call the Better Business Bureau to find out if other people have complained about the product. ▪ Be wary of products that claim to cure a wide variety of illnesses—particularly serious ones—that don’t appear to be related. ▪ Be aware that testimonials and/or celebrity endorsements are often misleading. ▪ Be very careful of products that are marketed as having no side effects. ▪ Question products that are advertised as making visits to a physician unnecessary. ▪ Always consult your doctor before taking any dietary or nutritional supplement. Telemarketing Fraud If you are age 60 or older—and especially if you are an older woman living alone—you may be a special target of people who sell bogus products and services by telephone. Telemarketing scams often involve offers of free prizes, low-cost vitamins and health care products, and inexpensive vacations. There are warning signs to these scams. If you hear these—or similar—“lines” from a telephone salesperson, just say “no thank you,” and hang up the telephone: ▪ “You must act now, or the offer won’t be good.” ▪ “You’ve won a free gift, vacation, or prize.” But you have to pay for “postage and handling” or other charges. ▪ “You must send money, give a credit card or bank account number, or have a check picked up by courier.” You may hear this before you have had a chance to consider the offer carefully. ▪ “You don’t need to check out the company with anyone.” The callers say you do not need to speak to anyone, including your family, lawyer, accountant, local Better Business Bureau, or consumer protection agency. ▪ “You don’t need any written information about the company or its references.” ▪ “You can’t afford to miss this high-profit, no-risk offer.” Tips for Avoiding Telemarketing Fraud: It’s very difficult to get your money back if you’ve been cheated over the telephone. Before you buy anything by telephone, remember: ▪ Don’t buy from an unfamiliar company. Legitimate businesses understand that you want more information about their company and are happy to comply. ▪ Always ask for and wait until you receive written material about any offer or charity. If you get brochures about costly investments, ask someone whose financial advice you trust to review them. But, unfortunately, beware—not everything written down is true. ▪ Always check out unfamiliar companies with your local consumer protection agency, Better Business Bureau, state attorney general, the National Fraud Information Center, or other watchdog groups. Unfortunately, not all bad businesses can be identified through these organizations. ▪ Obtain a salesperson’s name, business identity, telephone number, street address, mailing address, and business license number before you transact business. Some con artists give out false names, telephone numbers, addresses, and business license numbers. Verify the accuracy of these items. ▪ Before you give money to a charity or make an investment, find out what percentage of the money is paid in commissions and what percentage actually goes to the charity or investment. ▪ Before you send money, ask yourself a simple question. “What guarantee do I really have that this solicitor will use my money in the manner we agreed upon?” ▪ Don’t pay in advance for services. Pay services only after they are delivered. ▪ Be wary of companies that want to send a messenger to your home to pick up money, claiming it is part of their service to you. In reality, they are taking your money without leaving any trace of who they are or where they can be reached. ▪ Always take your time making a decision. Legitimate companies won’t pressure you to make a snap decision. ▪ Don’t pay for a “free prize.” If a caller tells you the payment is for taxes, he or she is violating federal law. ▪ Before you receive your next sales pitch, decide what your limits are—the kinds of financial information you will and won’t give out on the telephone. ▪ Be sure to talk over big investments offered by telephone salespeople with a trusted friend, family member, or financial advisor. It’s never rude to wait and think about an offer. ▪ Never respond to an offer you don’t understand thoroughly. ▪ Never send money or give out personal information such as credit card numbers and expiration dates, bank account numbers, dates of birth, or social security numbers to unfamiliar companies or unknown persons. ▪ Be aware that your personal information is often brokered to telemarketers through third parties. ▪ If you have been victimized once, be wary of persons who call offering to help you recover your losses for a fee paid in advance. ▪ If you have information about a fraud, report it to state, local, or federal law enforcement agencies. Internet Fraud As web use among senior citizens increases, so does their chances to fall victim to Internet fraud. Internet Fraud includes non-delivery of items ordered online and credit and debit card scams. Investment Schemes As they plan for retirement, senior citizens may fall victim to investment schemes. These may include advance fee schemes, prime bank note schemes, pyramid schemes, and Nigerian letter fraud schemes. Reverse Mortgage Scams The FBI and the U.S. Department of Housing and Urban Development Office of Inspector General (HUD-OIG) urge consumers, especially senior citizens, to be vigilant when seeking reverse mortgage products. Reverse mortgages, also known as home equity conversion mortgages (HECM), have increased more than 1,300 percent between 1999 and 2008, creating significant opportunities for fraud perpetrators. Reverse mortgage scams are engineered by unscrupulous professionals in a multitude of real estate, financial services, and related companies to steal the equity from the property of unsuspecting senior citizens or to use these seniors to unwittingly aid the fraudsters in stealing equity from a flipped property. In many of the reported scams, victim seniors are offered free homes, investment opportunities, and foreclosure or refinance assistance. They are also used as straw buyers in property flipping scams. Seniors are frequently targeted through local churches and investment seminars, as well as television, radio, billboard, and mailer advertisements. A legitimate HECM loan product is insured by the Federal Housing Authority. It enables eligible homeowners to access the equity in their homes by providing funds without incurring a monthly payment. Eligible borrowers must be 62 years or older who occupy their property as their primary residence and who own their property or have a small mortgage balance. Tips for Avoiding Reverse Mortgage Scams: ▪ Do not respond to unsolicited advertisements. ▪ Be suspicious of anyone claiming that you can own a home with no down payment. ▪ Do not sign anything that you do not fully understand. ▪ Do not accept payment from individuals for a home you did not purchase. ▪ Seek out your own reverse mortgage counselor. Many seniors grew up in a time when their families left their doors unlocked and never had to worry about someone breaking in but, unfortunately, those days are long gone. No matter how safe the neighborhood they live in is, even a gated community, there are certain precautions grandmas and grandpas should take: • Make sure all doors and windows remained locked at all times. • Make sure every externally facing door has some type of peephole. I also recommend the Ring video doorbell for seniors as they can see who is at the door and be notified before someone actually reaches the door. • Make sure all exterior doors are made of solid materials such as metal or wood. As part of those, make sure that extra long screws are used in the strike plate and that security door pins are also in place. • Make sure windows that could be potentially breached, have security film on them, which makes it much harder to break. I’m seeing this used more and more and not just on senior citizen’s residences. • Make sure any gates leading to fenced in areas are always locked and secure. I recommend using a good padlock with a key. Combination locks will also work, but a senior citizen will have to remember the code and who needs another number to remember? • Make sure that grandma/grandpa always answers a door with a telephone in hand. If they absolutely must open the door they can tell whoever is on the doorstep that they are on a call. This will give any burglar or other creep pause and will usually be enough to make them move on to another target. • Remember the good old days when you could leave a key outside under the rug or under a flowerpot? Forget them! Those days are over. Never leave a key outside. They are far too easy to find and you’re just providing a key to your castle. It’s much better to leave one with a trusted neighbor. • Make sure grandma and/or grandpa have a home security system. This, alone, will provide peace of mind and really is a must in my opinion. Home security systems can also be tied in with medical alert systems that a senior citizen can activate should they have an accident or fall in their home. • Make sure that all of your exterior lighting has motion detection capabilities. I recently wrote an article, here, about how motion sensors work if interested. Motion detector exterior lighting is a great way to keep burglars from operating in the dark. I also recommend making sure any entry pathway is covered by these types of lighting. They are readily available and can be purchased and installed for less than $100 in most cases . • Whenever leaving your residence, make sure you do two things. Arm your security system! You’d be surprised how many people don’t arm them and thieves know this. And leave a television or radio on to give the appearance that someone may be home. I hope these security tips will make grandma and grandpa just a little more secure as they go through their daily lives. If your a senior who would like advise on any of the topics listed, or just have a question about anything, please give us a call. We offer security assessments of residences/businesses and can work with you to make things more secure. We also offer presentations to senior citizen groups on a regular basis and would love to present to your group. At your service. Lee Walters President/Lead Investigator EXCALIBUR Private Investigation 719.208.4088; 505.208.6400; 803.806.7800  Having worked more white collar fraud cases than I can count, I'm always intrigued that new con men are able to convince people to part with hard earned money. The one common denominator that I've found is present in every one of these cases are the "friends and family" hook. The guy above, Zach Horowitz, also known as Zach Avery, used that hook to scam money from a variety of people under the guise that he was buying the rights to movies and then leasing those rights to HBO, Netflix, primarily, and other streaming services. Needless to say none of these services had ever heard of the guy which a little due diligence on the part of the victims could have figured that out early in the con. This guy ran a typical Ponzi scheme that caught up with him as all Ponzi schemes do.
What is a Ponzi scheme? The dictionary defines a Ponzi scheme as: "a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors". Once Zach Horowitz got those first investors on board, all family and friends, promising returns of 42% after 9 months (a red flag if I've ever seen one), he would repay the initial investors with money coming in from new investors. I'm always bewildered that people think there are investments that pay 42%, or more, in a short period of time with no risk. In the end over $600 million was scammed in this Ponzi scheme with some $200 million still unaccounted for. Don't think that schemes such as these are ongoing here in Colorado? Don't be too sure. In the last three weeks I've been introduced to individuals, who didn't know my background, pitching investments that are too good to be true and will, ultimately, lead to loss of investment funds. In both instances I gathered as much information as I could about the principles and shared with a local detective I know so that she could be on the lookout for potential victims. If someone approaches you with an investment that just seems too good to be true, contact me or one of my investigators and let us conduct due diligence on your behalf. Lee Walters President EXCALIBUR Private Investigation 719.208.4088; 505.208.6400; 803.806.7800  As someone who's worked literally hundreds of white collar crime fraud cases, bank fraud, wire fraud, con games, you name it, whenever I come across a documentary of that type of crime I'm drawn to it. Often times the documentary doesn't do the investigation justice, but over the last two days I had a chance to watch Skandal! Bringing Down Wirecard on Netflix and it's an excellent treatment of how a long-running, fraudulent business, was a German FinTech darling when it was actually a fraud scheme all along.
I have to admit, I had never heard of Wirecard until watching this but, for those of you not familiar with them as I wasn't, they were selling themselves as the PayPal, Zelle, etc of Europe. Not to give away too much, but there's all kinds of intrigue. Spies, lots of private investigators, at one point the company had 28 PI's on their payroll looking into reporters and others writing negative articles and short selling their stock, and foreign agents from numerous countries. As with all cons, even people who think there's something fishy going on, will dismiss their doubts under the misguided thinking that this government agency or that government agency is surely monitoring the company. When I hear that I laugh and promptly think of Bernie Madoff and how the Securities and Exchange Commission wqw asleep at the wheel for years. And take my word for it, there are still fraudulent companies operating as we speak even though our investigative agencies, who should be on the lookout for these, seem to be more interested in solving everything but true crime these days. If you have Netflix I can strongly recommend this one as it will have you on the edge of your seat the entirety of the film. About to enter into a large investment, partnership, or other business arrangement? Invest a few dollars and have a background investigation completed of all the principles and have some business intelligence conducted to see if everything that's being presented is really as it's being presented. Our professional private investigators will either verify what is being presented as true, or save you from making a large financial mistake that could be devastating. We also have a forensic accountant on staff who can dig through those financials to see if they are a true reporting of the financial health of the company. Call us today to discuss your needs. Lee Walters President EXCALIBUR Private Investigation 719.208.4088; 505.208.6400; 803.806.7800 |
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