Smart and Swindled: 15 Scams That Fooled Even the Brightest Minds

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From classic con artists throughout history to today’s more sophisticated scams, people fall victim to deceitful individuals regardless of their intelligence.

It’s easy to take comfort in believing that smarter or wealthier people will never be taken for a ride, until we hear the stories of brilliant minds who have been duped by clever structured fraudulent schemes.

From royalty and business icons to everyday citizens, it seems like no one is immune from being scammed at some point in time.

Join us as we explore 15 remarkable cases where even the smartest among us were unable to outsmart sharp swindlers and see if you might recognize any warning signs from these cautionary tales.

#1. Monopolies

In the past, the government enforced the law regarding monopolies.

This is why AT&T had to break up into regional phone carriers.

But now, the government, and most people, don’t seem to care.

Apple dominates the smartphone industry.

Google controls the internet.

People simply accept it and not realize they are being swindled out of money.

#2. Problem Solving Scammers

There are many times when smart people fall victim to hype.

The scammer will promise to give you details on how to stop telemarketer calls, make more money, or keep your house cooler without needing air conditioning.

Usually this works best when s person is at their wits end and frustrated.

#3. Manufacturer Repairs

Nowadays, more and more companies are forcing people to go back to the dealers to get their cars fixed.

If they decide to go to an independent repair shop, the repair will void the warranty.

Some companies even lock out their software so only certain businesses can repair their products.

The good news is that the right to repair movement is gaining momentum so that you can go anywhere to get your products repaired.

#4. Third-Party Security Systems

Remember those ADT signs you’d see in yards throughout suburban neighborhoods in the late 90s and early-to-mid 2000s? Some people still have those.

Despite being more expensive and less effective than newer, DIY home security system setups, third-party security services are still a thing.

#5. Multi-Level Marketing

This is an entire genre of scam. At the risk of offending, I’ll refrain from mentioning specific companies or programs.

Once you’ve finally quit your multi-level marketing scheme and seen the light, you’ll know that you were part of a scam—no matter how passionate you might be about it right now.

For many, multi-level marketing businesses are very expensive friendships built upon a foundation of fool’s gold.

#6. Renting Your Router

Though the internet is a modern amenity worth paying for, one web surfer realized their internet provider was charging them for a router.

That is normal enough, except the customer already paid for the router upfront. This story begs the question: How many customers are paying their internet provider excess rental fees without being the wiser?

#7. False Mobile Game Advertising

Game developers are a clever bunch. Too often, the advertisement you see while waiting for your YouTube video to load is a far cry from the cookie-cutter product you get once you’ve paid for the game.

In other words, what you see isn’t what you get.

#8. Payday Loans

Any Financial Literacy 101 course warns students about payday loans.

Unfortunately, many (dare I say most?) never enroll in Financial Literacy 101.

#9. Carnival Games

You’ve shot at the basketball hoop with a rim half a millimeter larger than the basketball’s circumference. You’ve tried to toss the rings onto the pin, only to have them bounce back mockingly in your direction.

You’ve played the carnival games and lost, yet you’ll play them again.

Don’t beat yourself up; there are worse things than donating to your local carnie.

#10. College

Remind me of the explanation for the eye-popping increase in college tuition over the past few decades.

Are students to believe that their education is exponentially better than the schooling their parents and grandparents received?

That’s a tough sell.

#11. Unpaid Internships

An unpaid internship at Goldman Sachs might be worth the clout it brings to your resume. An unpaid internship at the local burger joint? Not worth the effort.

Use your best judgment when offered an unpaid position of any kind, as the proposition of exchanging your time and effort for zero money is one to view warily.

#12. Renting to Own

Without exception (find one, and I’ll admit I was wrong), renting to own means paying borderline predatory interest rates.

By the time you pay off the product (plus interest), it may no longer be the cutting-edge electronic or appliance you started renting.

#13. Naming a Star

Wishing upon a star? Well worth the effort. Paying to name a star? Not worth the money. Odds are, any company bestowing ownership of celestial bodies probably doesn’t have the right to do so.

Even if a company has some right to sell stars, what are the odds your star is yours and yours alone?

#14. Overpriced Funeral Services

Those who have lost a loved one and assisted in the funeral service know how predatory the grief business can feel.

There is a sense that if you’re unwilling to pay the $10,000-plus price tag that most funerals carry, you’re somehow callous or cheap.

This pressure leaves surviving loved ones ripe for all sorts of scams that, to be frank, constitute grief profiteering.

#15. Bottled Water

OK, get this: It’s the same clear, tasteless liquid you get out of your sink, but bottled in particle-shedding plastic and sold to you for $1.99 (or more, if you’d like).

Is this something you’d be interested in?

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Identity theft is everywhere and it is only going to get worse.

Here are the steps you need to take to protect yourself from scammers and hackers.

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Unique Savings Hacks To Try

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But not all of them.

I sourced the internet far and wide for expert approved saving hacks and came up with this list.

The only question is, which one will save you the most money?

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Did you know there are many places around your house you can hide cash?

Many of these places, no one will ever think to look, making them excelling hiding spots.

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Are Hybrids Worth It?

Many people think buying a hybrid car will save them money. They base this on the fact they will buy less gas, which means saving money.

But they don’t take into account the higher cost of a hybrid vehicle. Can this difference make a hybrid more costly to own?

SHOULD I BUY A HYBRID CAR?

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When we think of the wealthy, we think of big homes and flashy cars. But many millionaires have stealth wealth.

This means you would never know they are rich by looking at them. The benefit? People leave them alone.

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This thread inspired this post.