You have to have a few tricks up your sleeve to scam up to US$100 million (S$135 million) out of sophisticated investors, as Spanish fraudster Bismark Badilla showed in spectacular fashion.
His secret sauce had two key elements: He worked hard to “massage” his 70 or so investors into a false sense of security while being generous in paying off some early “customers”, who then introduced their friends, which enabled him to expand his pool of victims.
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