Real Estate Scam Cost Man $1.6 Million

In this episode of Scam DamNation, host Lillian Cauldwell shares a cautionary tale about a real estate scam, originally reported by Moneywise and Florida local news. A man lost $1.6 million—scammed by a woman he had known for years. She approached him with what seemed like a legitimate investment opportunity through her realty company, claiming she needed funds to purchase buildings. Trusting her, he handed over his banking information—but instead of investing, she disappeared with the money.

Financial expert Maurie Backman offers practical tips on how this could have been avoided, including key steps to take before sharing sensitive financial data. It’s a sobering reminder: familiarity doesn’t equal safety, and due diligence is your first line of defense.

Resource
Florida man, 60, says he lost $1.6M in an elaborate investment scam — fronted by a woman he’d known for years by Maurie Backman. 2025, July

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Lillian Cauldwell & Jeanne White