During the second half of 2019, I developed a unique strategy that allows me to legally profit from the Wall Street “insiders” and their every move.
I call it Dollar Ace, and since the inception of this trading service, it’s quickly becoming my favorite profit bucket.
We all know Wall Street is riddled with dirty players… and I got addicted to exposing America’s greediest traders.
Everyone has been hooked on the American Greed series, and since it’s the last day of 2019, I’ve decided to have some fun.
We have the Grammys. The Oscars. The Emmys. But where are the REAL awards that should be given out?
Where is the award show for the greediest of scumbags in America?
That’s right, their time has come ─ drum roll please ─ the American Greed Awards!
I’ve rounded up the scummiest of scumbags, the fraudiest of fraudsters in 2019 just for you.
And at the end of this list I will show you how actually profit off their crap ethics and the kicker ─ It’s 100% legal.
Time to tip your hat too…
5. Congressman Guilty of Insider Trading
While Christopher Collins isn’t on this list for stealing millions, he did something far worse.
Collins was a congressman who used his power to push big pharma bills. The reasoning behind him pushing this agenda? His family owned a third of a pharmaceutical company, Innate Immunotherapeutics and he was an independent director. Talk about conflict of interest.
His greed drove him to insider trading when he discovered that the Innate’s clinical trials resulted in failure…and if you know anything about biotechs, you know a failed clinical trial could cause the stock to plummet.
Being connected to a pharmaceutical company and all, the congressman knew this failed drug spelled disaster for the company and his precious stock.
Collins used his inside knowledge and dumped his stock, avoiding a loss of $570,000.
That’s not all, he shared proprietary information with 2 others so they could get out while the getting was good. The guy who was supposed to serve the public did the exact opposite.
Wrap your head around the fact that this sleazeball was a politician that America voted into office, he voted on legislation for our country and was the first U.S. Representative to endorse President Donald Trump.
4. The Fugazi Climate Change Company
With climate change being a real concern today, some people are taking this for their own advantage. Some are taking this concern and using it to make a fast buck off fake products.
Nanotech Engineering was one of these dirty dogs.
The company was supposed to change the game for solar panels… Nanotech supposedly developed lighter, stronger, and way more effective than its bulky half-a$% predecessor. The company’s revolutionary panel sounded like a godsend to green energy… and it sounded too good to be true.
The revolutionary panel never existed.
The CEO, COO, CFO of Nanotech defrauded more than 100 people out of almost $10 million who put their hard-earned money behind this solar panel.
8-figures is no small sum of cash, and you could probably guess they didn’t put that money to good use… what they did with it makes it cringeworthy, and that’s why they made it on this list.
They blew through money buying a yacht they named Bella Vita. Getting cosmetic surgery. Not 1 but 2 Maseratis. And even more indulgent personal expenses that make you just want to punch someone in the face knowing they stole invertor’s money to buy it.
3. The Story of Strippers and Insider Trading
Goldman Sachs is notorious for insider trading, and since the investment bank is so massive… it’s no surprise bad apples slip through the cracks. There was one interesting case that shines a foglight into how the Wall Street banks really operate.
At the center of this story is 2 traders from Goldman Sachs and a Merrill Lynch investment banker. The trio had a little arrangement to make millions, even netting $6.2 million from one single trade using insider information.
The three amigos were smart enough not to trade through their own accounts. They used one of the traders a very, very “good” friend’s trading account who happened to know her way around a pole. Hopefully, she didn’t quit her day job… err night job, because a customer service rep and Ameritrade caught on.
Did they really, honestly think they would get away with the stripper turned millionaire trader overnight plan?
2. The $32M Heist
For over 17 years, 3 men ran an insider trading scheme that made them tens of millions in profits.
One man worked at 4 of the most prominent mergers and acquisitions law firms over a span of 17 years. By working at these law firms, he learned the tempting details of deals before anyone else knew. If you know anything about buyouts… once the headline comes out, the target company gaps up massively.
Of course, if you can spot the trade ahead of time… you could potentially make millions. But it’s 100% illegal to trade off insider information.
The lawyer in this high-profile case knew that if he could place these bets, he could rake in millions… normally, people in that position would place the trades…
But, the temptation was too much.
He took this nonpublic info and passed it right along to a buddy. Who in turn would pass it along a third time before the insider info would be used.
The third man would then gobble up shares for the trio. They thought they could cover their tracks that way and keep the scheme going on decades to come.
Well, they were able to keep the charade up for 17 years because they went full secret agent using burner phones and old fashion payphones (seriously where are these payphones?) to communicate.
They invest $109 million and made off with $32 million off insider trading. But instead getting go on holiday with their millions this trash is vacationing behind bars.
1. The Scummy Insurance Brokers Are Stealing From Meemaw
We’ve all seen the Wall Street movies that depict brokers as slimy people who will stop at nothing to earn a fast commission. Sure, The Wolf of Wall Street and Boiler Room may have bent the truth a little for entertainment purposes…
But I can tell you one thing they got right, these guys will trick folks looking to retire, just so they could live lavishly.
Recently the As$#& In Greenwich (AIG), they’re really called American International Group (AIG), walked into the spotlight, as one of its divisions fell into an investigation. The SEC found the brokers were pushing some pretty complex products to teachers, professors and non-profit companies.
Instead of informing their clients and putting their best interests first, they decided to sell them high-priced products just to earn a commission. That’s a big no-no, and there are laws that aim to prevent this from happening.
However, that didn’t stop this division. They sought out some of the most vulnerable workers, who are grossly underpaid… and probably pitched them on how they could make a ton of money if they just listened to their advisors.
This takes the top spot for me… because I know how easy it is to fall into their traps. Heck, a broker wanted to manage my mom’s money, but I knew exactly what would happen. The guy pitched an annual return of less than 10%… and when my mom told me that, I let her know the power of options and how she could double her money real quick.
Guess what, when she told the broker that I knew how to trade and made millions of dollars… he didn’t believe her! Of course, my mom sided with me, and wanted me to handle her money, and I’m happy to say her trading account has grown at an exponential rate.