American Morning

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December 7th, 2009
01:00 PM ET

Stimulus scams prey on victims' desperation

President Obama's $787 billion stimulus package is stimulating at least one sector of the economy – con artists.

The Federal Trade Commission says hundreds of thousands of innocent Americans have already been ripped off, to the tune of nearly $30 million. Our Allan Chernoff has one victim's story in this "AM" original report.


Filed under: Crime • Economy
soundoff (7 Responses)
  1. Gwen Smith

    Come on people, if they are this gullable, they would get taken in on any scam. Who sends money off to secure a loan? If someone offers you something for nothing, you can be sure its a scam. The housing marketing loan department is doing the same thing. They offer to reduce your payments, and in the long run they foreclose on your house. Everyone is taking advantage of the bad economy now, and using it to scam people out of money. It is really bad when you can not trust the banks, the Goverment, or any one who deals with money. It makes me sad to think that the human race has become so low.. It is like animal eat animal out there. People are willing to sale their souls for a buck. I get depressed thinking about it. If crooks are running the country, where are we going to end up at. People need to start taking their heads out of the sand, and pay attention to what is going on. Dont believe what these crooks tell you, and dont trust anyone unless they prove themselves to you. Everyone wants your money, house, and anything else of value that you have. We can not get anything done in the Goverment because, the Senators, and Congressmen are being bought off by big money people. They would rather let people die, that loose the money they get from insurance companys. Open your eyes people, pay attention to what is going on in the country. Its time decent people took their country back!

    December 8, 2009 at 1:30 pm |
  2. haines

    How to avoid harassment by con artists

    Guard your $$ like you would a loved one. Fight at every turn! Bare your teeth!

    Don't let them live at your expense. This is the time where you have to walk away from the desperado's lest they take you down with them

    "Nobody ever won anything by dying for your country but letting the other guy die for his own country" – G.S.Patton

    Live to fight another day

    December 8, 2009 at 1:20 pm |
  3. haines

    Please understand as a public service. Folks that are desperate will do desperate things. We live in desperate times. therefore desparate situations are finding.......................

    Folks there is no shortage of scum out there!

    December 8, 2009 at 1:13 pm |
  4. denver d

    Looks like more people who just wanted to get their fair share of something for nothing.It is hard to feel sorry for someone who is deep in debt and plans to use their handout money to remodel the house instead of paying creditors.

    December 8, 2009 at 7:59 am |
  5. Ron

    This country is so great. Whenever there are people who need help,
    there is no shortage of con artists who quickly move in. Capitalism at its finest! Nice.

    December 7, 2009 at 6:21 pm |
  6. Fred

    Sorry these people were idiots. Not saying they deserved to be robbed but for crying out loud. Do a little research, read a dang newspaper or watch the freak'n news once in a while. If they had they would have seen plenty of stories that would have made them think twice.

    December 7, 2009 at 5:30 pm |
  7. American Joe

    I'm sorry, I don't mean to be insensitive but I must say two things:

    1.) How naive do you have to be to fall for a scam like this!

    2.) Why would go about about spending the money even before you got it!

    December 7, 2009 at 2:44 pm |