Contact 6: Avoid becoming a victim of a Ponzi scheme

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MILWAUKEE -- They come in many shapes and sizes. But Ponzi schemes have one thing in common -- the investors are almost always the big losers.

"He was nothing but a psychological liar and a total sociopath," said William Neisokey.

Neisokey is talking about the man who stole more than $90,000 from him in a Ponzi scheme.

"My brother-in-law had been investing with him for 10 years and got his principle and interest back. He had a perfect track record and I saw no red flags," said Neisokey.

The scam artist claimed he was investing in tax liens.

"In reality none of the money was invested in tax liens, the money went to pay off previous investors and his living expenses - your typical Ponzi scheme," said Mark Trachtenberg, U.S. Postal Inspector.

Postal inspectors say the scam worked for more than a decade based on the con artist's good reputation in the community.

Neisokey admits he was lured in by the idea of quick money -- and he learned a lesson.

Victims in this case received a bogus email telling them the suspect in this case had died. In fact, he had fled to Thailand. Postal inspectors extradited him back to the U.S. where he was prosecuted.