Question

These types of frauds are committed on the Internet and in person and obtain the confidence of individuals to get them to invest money in worthless schemes. Identify the type of fraud, perpetrator & victim

a) Ponzi Scheme
b) Investment Fraud
c) Confidence Trick
d) Pyramid Scheme

Answer 1

The type of fraud described is a Confidence Trick, where the perpetrator gains the trust of the victim to deceive them and exploit them financially.

Step-by-step explanation:

The type of fraud described in the question is c) Confidence Trick. In a confidence trick, also known as a con or scam, the perpetrator gains the trust and confidence of the victim in order to deceive them and exploit them for financial gain. The victim is the individual who is convinced to invest money in worthless schemes based on false promises and misleading information.