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$100K Lesson Learned

$100K Lesson Learned

James Altucher

Posted August 08, 2025

James Altucher

“TV Producer Teams Up With Satanists to Take Down Con Artist.”

That’s not clickbait—that actually happened.

My latest podcast guest, Jonathan Walton, was scammed out of $100,000 by a master con artist.

From that experience, he launched the Queen of the Con podcast, built a blog, and started helping other victims investigate and bring scammers to justice.

Years later, the con artist who scammed him resurfaced.

She was leading a bogus satanic church and fleecing its members.

He tracked her down, gave her location to Northern Ireland police, and ultimately helped put her back behind bars.

I just spent over an hour talking to Jonathan about how not to get scammed.

And now I’m side-eyeing everyone I meet.

In a world full of scams, here’s what you need to know to protect yourself.

Your New Best Friend

Here’s the thing: master con artists don’t try to hack your bank account.

They hack your empathy.

Jonathan learned this the expensive way—$100,000 expensive—helping an “Irish heiress” get her “inheritance.”

Sounds stupid, but from the outside, every long con sounds stupid: 

“How could anyone fall for that?”

I could. You could. Anyone could.

Because when you’re in it, you’re living inside a carefully crafted relationship that feels organic… and even serendipitous and magical.

Like the universe is finally giving you a break.

Professional con artists operate in plain sight.

They’re your “new best friend,” your “helpful neighbor,” your “I-just-happen-to-know-a-guy” social connector.

They embed themselves in your life for months or years before the ask.

The Greatest Hits of Red Flags

Jonathan’s book, Anatomy of a Con Artist, breaks it down into 14 red flags.

My favorites:

  1. Too Kind, Too Quick – If someone’s acting like your maid of honor before you’ve finished your appetizer, be suspicious.
  1. The TMI Trap – They “confide” deep, dark secrets (fake) so you’ll reciprocate with your real ones. Now they own you.
  1. Beak-Wetting – They borrow a small amount, pay it back fast, then… boom, the floodgates open.
  1. Stories From Far-Away Places – Harder to verify, easier to believe.
  1. Drama Is the Default – If every week is a crisis, you’re not a friend—you’re an ATM with emotional support.

Why You Won’t Report Them

Here’s the genius of the trap: once they have your secrets, you’re afraid to go to the police because you don’t want your stuff in a court transcript.

That’s how they move through entire social circles without anyone comparing notes.

Jonathan says that’s why it’s the most under-reported crime in the world.

And it’s why he now hunts cons for fun (some people golf).

He’s seen the same patterns in every scam—from Bernie Madoff to NFL quarterback Eric Kramer’s secret-marriage nightmare.

The scripts don’t change; the costumes do.

How to Not Get Played

  • Notice if three or more red flags stack up.
  • If their origin story changes depending on who’s listening, run.
  • If they try to isolate you from someone, immediately connect with that person. Compare notes.
  • And, yes, sometimes the right move is just Googling them, running a background check, or even noting their license plate.

Talking to him, I realized the most dangerous scams aren’t about greed. They’re about care.

It’s when your heart gets in front of your brain that you’re toast. And that’s why the best defense isn’t paranoia—it’s pattern recognition.

The scams will keep happening.

If you want the full playbook, listen to the latest podcast. And do it before you meet your new “helpful” neighbor.

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