«The goal is to get her to explicitly state what she’s doing and how the scheme works,» Detective Martinez explained. «If we can get her to admit fraud on tape, especially with details about other victims, we’ll have enough for a conviction.»
«What about Marcus and the rest of their network?»
«One step at a time. If we can flip Jessica, she might give us the bigger fish.»
At 1:45 p.m., I arrived at Jessica’s office building in downtown Dallas. The suite numbers she’d given me led to a generic office space with temporary furniture and motivational posters that looked like they’d been purchased at a gas station. Classic temporary setup, designed to look legitimate but easy to abandon quickly.
Jessica greeted me with an enthusiastic hug and her usual million-dollar smile. «Margaret, you look wonderful! I’m so glad you decided to take control of your financial future.»
«Well, you’ve been so persistent,» I said, settling into the uncomfortable folding chair across from her desk. «And David speaks so highly of your expertise.»
«David is such a sweetheart. He just wants the best for his mother.» Jessica pulled out a thick folder. «Now, I’ve been working with my partner Marcus to identify some exclusive opportunities that would be perfect for someone with your background and assets.»
«Your partner Marcus?» I asked innocently. «I don’t think David’s mentioned him.»
A brief flicker of something crossed Jessica’s face. «Marcus handles the more sophisticated investment strategies. He works behind the scenes, mostly.»
«I’d love to meet him. Is he here today?»
«Unfortunately, no. He’s closing a major deal for another client. But don’t worry. I have full authority to handle your account.»
Jessica opened the folder and pulled out several official-looking documents. «Now, I’ll need some basic information about your current holdings.»
For the next 20 minutes, I fed Jessica carefully crafted lies about my financial situation, inflating my assets just enough to make me an attractive target, but not so much that she’d become suspicious. She took detailed notes, asking probing questions about my accounts, my beneficiaries, and my estate planning.
«The opportunity I want to discuss with you today,» Jessica said, her voice taking on a conspiratorial tone, «is something we only offer to very special clients. Municipal bonds backed by offshore tax shelters that guarantee a 25% return in six months.»
«That sounds too good to be true,» I said, playing the cautious grandmother perfectly.
«That’s what all our clients say initially,» Jessica laughed. «But Margaret, we’ve never had a client lose money on this program. Never. In fact, Mrs. Patterson from your neighborhood just doubled her social security investments with us last month.»
Mrs. Patterson. My heart sank. Eleanor Patterson was 87 years old and had been showing signs of memory problems for months.
«Really? Eleanor invested with you?»
«Oh, yes. She’s one of our most successful clients. In fact,» Jessica lowered her voice, «she’s already made enough profit to buy that new car she’s been wanting.»
That was impossible. Eleanor didn’t drive anymore and had been talking about selling her car for months. Jessica was either lying about Eleanor’s success or lying about Eleanor’s involvement entirely.
«How much would I need to invest to see those kinds of returns?» I asked.
Jessica’s eyes lit up with predatory excitement. «For the full program, we recommend transferring all liquid assets to maximize the compound growth potential.»
She had just walked directly into Detective Martinez’s trap.
«All liquid assets?» I repeated, letting my voice carry just the right amount of elderly confusion mixed with greed. «That seems like quite a lot to invest at once.»
«Margaret, I understand your hesitation. But think about it. You’ve worked your whole life, sacrificed so much to build your nest egg. Don’t you deserve to see it grow dramatically in your golden years?»
Jessica leaned forward, her expression shifting into what I recognized as practiced sincerity. After dealing with manipulative teenagers for 25 years, I could spot fake empathy from across a football field.
«The thing is,» she continued, «this opportunity has a very limited window. My offshore partners can only accept a certain number of new investors each quarter, and we’re down to the last two spots.»
Classic high-pressure sales tactics. Create artificial scarcity to force quick decisions.
«How much time do I have to decide?»
«Ideally, we’d want to submit your paperwork today. I know it seems fast. But Margaret, I’ve seen too many people miss out on life-changing opportunities because they waited too long.»
Jessica pulled out a transfer authorization form that looked official enough to fool most people. But I’d spent years grading papers, and I could spot a document that had been hastily created in Microsoft Word.
«This form would give me authorization to move your funds, just temporarily, while we set up your new investment accounts. It’s a standard procedure.»
Jessica’s smile never wavered, but I caught her glancing at her watch. «The offshore markets close at 4 p.m. Eastern Time, so we do need to move quickly.»
«Before I sign anything, could you tell me more about some of your other successful clients, besides Eleanor Patterson?»
Jessica hesitated for just a moment. «Well, there’s Herbert Williams. He’s made over $200,000 in profits this year.»
Herbert Williams. Rick had identified him as one of the elderly guests from David’s wedding who’d lost his entire Social Security savings to Cole and Miller Financial.
«That’s wonderful,» I said. «Could I speak with Herbert? Get his recommendation directly?»
«Oh, Herbert is traveling in Europe right now, enjoying his profits,» Jessica said quickly. «But I can show you his account statements.»
She pulled out a document that purported to show Herbert’s investment gains. The numbers looked impressive until you realized they were printed on regular paper with no official letterhead or verification. I’d seen more convincing fake report cards from students trying to avoid parent conferences.
«Jessica, can I ask you something personal?»
«Of course, Margaret. I want you to feel completely comfortable with this process.»
«How did you become so knowledgeable about investments? David mentioned you work in marketing.»
Another flicker across her face. «I do work in marketing, but I’ve been studying financial management as a side interest. Marcus has been mentoring me, teaching me about international markets and specialized investment vehicles.»
«How did you meet Marcus?»
«Marcus is my cousin. We grew up in the same area. He helped me get started in this business.» Jessica’s answers were becoming shorter, more clipped. She was clearly uncomfortable with questions that strayed from her sales script.
«And the two of you decided to help elderly people specifically?»
«We focus on mature investors because they often have assets that aren’t working as hard as they could be. People like you, Margaret, who’ve been conservative with their money but deserve to see real growth.»
«That’s very thoughtful of you.» I paused, pretending to study the transfer form. «Jessica, I have to ask, David doesn’t know about your business partnership with Marcus, does he?»
«What do you mean?»
«I mean, you haven’t told him about your investment business, about being business partners with your cousin, about any of this?»
Jessica’s mask slipped completely for just a moment, and I saw something cold and calculating underneath. «David doesn’t need to worry about financial matters. He’s focused on his career, and I handle our investment strategies.»
«Our investment strategies? So David’s money is involved too?»
«Just small amounts so far. Nothing significant.» Jessica glanced at her watch again. «Margaret, I really do need a decision today. This opportunity…»
«I’ll do it,» I said suddenly.
Jessica’s face lit up with genuine surprise and delight. «Really? Oh, Margaret, you’re making such a smart choice. You won’t regret this.»
«I just need to make one quick phone call to my bank to confirm some account numbers,» I said, pulling out my phone. «Is that okay?»
«Of course. Take your time.»
I stepped into the hallway and pretended to dial my bank while actually texting Detective Martinez. She’s admitting to investing David’s money without his knowledge. Keep recording.
When I returned to the office, Jessica had multiple forms spread across her desk. «Okay, I’ve prepared everything. If you could just sign here, here, and initial here.»
«Before I sign, could you walk me through exactly how this process works? I want to understand where my money will be going.»
And that’s when Jessica made her fatal mistake. Thinking she had me hooked, she began explaining in detail how the money would be transferred to Marcus’s accounts, how the offshore investments were actually just holding accounts, and how the fake returns were generated using new investor money.
She was describing a textbook Ponzi scheme, and Detective Martinez was recording every word.
«So the returns I see in my account statements,» I said, making sure I understood correctly, «those come from new investors, not from actual investment profits?»
«Well, initially, yes,» Jessica said, apparently not realizing she’d just confessed to securities fraud. «But as the program grows and we acquire more sophisticated investment vehicles, the returns become self-sustaining.»
«And Marcus handles the technical aspects of moving money between accounts?»
«Marcus is brilliant with financial structures. He’s set up a network of accounts that allow us to maximize returns while minimizing tax implications.» Jessica was gaining confidence now, clearly thinking she was impressing me with their sophistication.
«How many clients do you currently manage?»
«We’re approaching 50 active accounts with total assets under management of about $12 million.»
$12 million. The number hit me like a freight train. This wasn’t just a small-time scam targeting a few elderly people. This was a massive operation that had been systematically destroying lives for months, possibly years.
«That’s quite impressive for such a young business,» I said carefully.
«Marcus has been building relationships in this space for almost five years. I joined him two years ago when I realized how much potential there was to help underserved populations like retirees and widows.»
Help. She actually used the word «help» while describing how they stole life savings from vulnerable elderly people.
«Jessica, can I ask how you and David met? Was it through your investment work?»
«Oh, no. We met at a charity fundraiser for senior services. David was volunteering, and I was there representing our financial planning services.» Jessica smiled at the memory. «He was so passionate about helping elderly people, and I knew we’d be perfect together.»
