When it comes to pulling off financial crime, do women have an edge? Some research suggests that they do. It also suggests that while women are actually more likely than men to engage in financial crime, they are often the least suspected. The reason might stem from a powerful bias that women are largely “nice”, and usually trustworthy. In this episode we explore how this belief might have been at play in a 200 million dollar Ponzi scheme run by a Florida woman named Johanna Garcia.
It's a story about how Johanna pulled in thousands of investors by leaning on her persona as a community builder from humble beginnings. The belief in Johanna’s kind-heartedness was so strong, that even as she was under investigation, and their money was frozen, her investors refused to believe she was capable of such a crime.
We’re joined by our guest fraud expert, Kelly Paxton, a certified fraud examiner and expert on pink-collar crime – a term that describes theft from the workplace that's committed by low or mid level employees; roles that are typically held by women. However, pink-collar crime has evolved to encompass much more than embezzlement by women, and today it’s on the rise. Kelly explains how women can often more easily build trust and fly under the radar as they steal from clients or employers.
This is a fascinating dive into the phenomenon of pink-collar crime and how Johanna Garcia built her Ponzi scheme from her small time bookkeeping business to a country-wide investment scam. It’s an examination of the idea that when it comes to fraud, being a woman can be the perfect cover.
About the Show
Take a deep dive into today’s most devious scams, as we expose the psychological tactics and surprising methods used to drain thousands of victims of billions of dollars every year.
At a time when financial crime is increasingly sophisticated, we go behind the schemes to understand the often brilliant – and sometimes foolish – crooks at work, so you can stay alert and avoid becoming their next victim.
In season 3, Nickel & Crime returns with new mind-twisting stories… and something more. We’re also taking a peek behind the curtain to see how Early Warning helps keep the U.S. financial ecosystem healthy using technology that can stop these bad actors before they strike.
With more focus on what you need to know to spot a scam, alongside our signature immersive storytelling, Nickel & Crime is back to dissect the deception, for your protection.
About Early Warning
Nickel & Crime is the award-winning financial true crime show brought to you by Early Warning®, a financial services technology leader that has been empowering and protecting consumers, small businesses, and the U.S. financial system with cutting-edge fraud and payment solutions for more than three decades. Through unmatched network intelligence and partnerships with more than 2,500 bank and credit union brands, we increase access to financial services and products, and protect financial transactions. We are the company behind Zelle®, and PazeSM online checkout solution. To learn more about Early Warning, visit www.earlywarning.com.
What financial crimes fascinate you? What questions do you have about risk and security? Connect with Nickel & Crime by commenting in the reviews.
