Industry Scammers and Predators: How to Protect Yourself and Your Business

Entrepreneurs and professionals across all industries are vulnerable to individuals who prey on success. Scammers and predators lurk around, masquerading as legitimate colleagues, business partners and influencers, all while looking for opportunities to exploit hardworking individuals. Unfortunately, I recently had a personal experience with someone claiming to be “known in NYC,” which opened my eyes to the tactics these people use and the damaging effects they can have on your reputation, mental health and career.

My purpose in sharing this is not to cast blame or defame any specific individual, but rather to educate and equip other leaders. Through this experience, I learned valuable lessons about recognizing the red flags of industry predators and how to protect yourself, your business and your peace of mind. Here’s what I’ve learned, and how you can avoid falling into the same traps.

The Scammer’s Playbook: How They Operate

Industry scammers rarely appear as the stereotypical villains. More often, they present themselves as experienced professionals, aligned with your values and enthusiastic about the same goals. They work their way into your trust by building what appears to be a mutually beneficial relationship, often sharing personal stories of hardship to invoke empathy. These individuals may inflate their credentials, claim connections that don’t exist or present themselves as experts in fields they have little experience in.

In my case, the individual presented themselves as a seasoned professional with ties to industries I was interested in. They boasted of multimillion-dollar business ventures and “insider” knowledge that seemed valuable to my work. It wasn’t until after I had invested time, energy and trust that the cracks began to show.

Recognizing the Warning Signs

Several warning signs may indicate someone is a scammer or predator in your professional circle. These became clear to me in hindsight and should be immediate red flags:

1. Inconsistent Stories and Credentials: Watch for individuals whose stories frequently change or whose credentials can’t be verified. A common tactic is to inflate their resume with unverifiable claims about past success or connections.

2. Erratic Behavior: Frequent erratic or unstable behavior, such as substance abuse or emotional swings, should raise concern. Their lack of professionalism could damage your reputation by association.

3. Attempts to Isolate You: Predators often try to isolate you from trusted colleagues, badmouthing others or encouraging decisions without consultation.

4. Pressuring for Money or Favors: Urgent requests for money or favors, especially without legitimate business context, are serious red flags. Scammers often promise future returns but rarely deliver.

5. Threats and Emotional Manipulation: When confronted, scammers may resort to threats or emotional manipulation to guilt or scare you into compliance. Phrases like, “You don’t know the consequences of crossing me or losing my patience,” are common tactics.

What to Do If You Suspect You’re Being Scammed

Realizing you’ve been targeted by a scammer is unsettling, but it’s essential to act quickly. Here’s how I handled the situation and how you can too:

1. Document Everything: Keep detailed records of all communications, agreements and interactions. These records could be crucial in protecting yourself legally.

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2. Trust Your Instincts: If something feels off, it probably is. Don’t ignore your gut feeling. If a business relationship causes stress or misalignment, consider reevaluating it.

3. Seek Legal Counsel and Contact Your Professional Organization: If you believe you’ve been scammed, consult a lawyer immediately. Reach out to your professional association as well. Review your insurance policies for coverage. I was fortunate to have the support of legal professionals like Richard Alexander, Esq., who helped me navigate the legal challenges from his personal experience.

4. Rely on Your Network: Reach out to trusted friends and colleagues. Once I opened up to my network, I realized I wasn’t the only one being targeted and that this individual had a pattern of using threats, manipulation and pathological lying. Professionals like Ask Nurse Colleen from Cannadelic DC, Josh Alb from Cannademix and Luna from Cannablissbabes helped me see the bigger picture. Their support was invaluable. Gathering certified testimonies can also help. Surround yourself with those who have your best interests at heart.

5. Don’t Engage with Threats: If the person begins making threats, do not engage. Report the behavior to authorities and consider filing for legal protection, such as a restraining order if you feel the individual will continue to attempt to harm you.

How to Protect Yourself Moving Forward

While you can’t prevent every bad actor from entering your life, you can take steps to protect yourself and your business from scammers:

1. Vet Everyone: Before entering any business relationship, do your due diligence. Check references, verify credentials and dig deeper than a quick Google search. 

2. Establish Boundaries Early: Be clear about your expectations and boundaries from the start. Don’t be afraid to walk away if something doesn’t feel right.

3. Strengthen Your Support System: Build a network of trusted advisors who can offer outside perspectives and help you see potential red flags.

4. Stay Educated: Educating yourself about scammers’ tactics is one of the best defenses. Learn to spot the signs early and take action before things escalate.

Moving Forward With Confidence

It’s easy to feel demoralized after dealing with a scammer or predator in your industry. But it’s important to remember that their actions don’t define you. As leaders, our responsibility is to protect ourselves, our businesses and our communities by staying informed, setting boundaries and standing firm in our values.

Through my experience, I’ve become more vigilant, more discerning and more protective of my boundaries. I hope that by sharing these lessons, I can help others avoid the same pitfalls.

Remember, your success will always attract attention, some of it good, some of it harmful. But with the right knowledge, you can stay one step ahead of those who seek to exploit your hard-earned achievements.