Several months ago I wrote a column about the importance of paying careful attention to the credentials and past history of the financial advisers with whom you chose to entrust your funds. Integrity has surely become harder to find in recent years.

Many financial people are really marketing people with a different title. That said, “Pump and Dump” schemes have been around forever. They have just moved from the telephone to internet chat boards at websites such as Reddit and Robinhood. Visit Reddit and read for yourself some of the tales of woe of some who initially made a quick buck earlier this year and then lost it just as fast.

Bernie Madoff, for whom no tears were shed when he died recently as the ultimate Ponzi schemer, was aided by several of his employees. They also went to jail for falsifying client account statements that showed clients earning steady returns of 15% each and every year no matter what the market did. He was in the social…

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