Ever wonder what it takes to scam the state lottery? Terry Rich joins us on the podcast this week to discuss fraud and how to prevent it in Small Businesses & other organizations. Terry is the former CEO of the Iowa lottery, and helped uncover a multi-million dollar fraud before it was paid out

[02:35] Terry’s Story – Terry begins the conversation by sharing his backstory.

[09:46] Underlying Reason –Terry dives deep into three key reasons why people commit fraud.

[13:19] Remedies – Terry shares his thoughts on how to identify fraudulent activities and deal with scammers, and ultimately avoid becoming victims.

[17:02] Iowa Lottery Fraud – Terry tells the fascinating story of resolving the largest lottery fraud in the United States.

[38:48] Adjustments – Terry discusses the improvements made after the fraud was discovered and addressed.

[48:25] Entrepreneurial Spirit and Creativity – Terry explains how he preserves entrepreneurial spirit and creativity.

Resources:

Connect with Terry:

Website: terryspeaks.com/

LinkedIn: linkedin.com/in/terich/

Mentioned in the episode:

Ep #117 – A Top Economist’s Take on Personal Finance With Dr. Laurence Kotlikoff: growmoneybusiness.libsyn.com/website/ep-117-a-top-economists-take-on-personal-finance-with-dr-laurence-kotlikoff

The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life: Before 8AM: goodreads.com/book/show/17166225-the-miracle-morning?from_search=true&from_srp=true&qid=TjH1cq9KBa&rank=1

Iowa Lottery Fraud: nytimes.com/interactive/2018/05/03/magazine/money-issue-iowa-lottery-fraud-mystery.html

Most Recent Episodes

January 8, 2025

Ep #253 – The Market Seems Expensive Right Now. Should I Be Worried?

Should you be concerned that the market’s just made several all time highs?  This question comes up in various forms any time stock markets set new records.  As tempting as it is to assume that...

Listen · 29:14

December 4, 2024

Ep #252 – What Does Another Trump Administration Mean for the Economy, Inflation, and the Markets?

A lot has happened in the markets over the last few weeks. In this episode we cover what’s new in the stock, bond, and Crypto markets since the election, and to should expect from the Trump...

Listen · 34:47

November 6, 2024

Ep #251 – We’re Concerned About Federal Spending. Does That Mean We Should Avoid U.S. Stocks?

This week on the show we field a listener question about whether their concern about government spending should be reflected in their investment portfolio.  We also review an article about market...

Listen · 33:27

Load More Episodes

Grant Bledsoe Financial Planner to Business Owners

I'm a financial planner to business owners, and the founder of Three Oaks Wealth. Our firm helps business owners align their business interests with their personal finances, often including the exit or sale of equity holdings.

I hold several professional credentials, including the CERTIFIED FINANCIAL PLANNER™, Chartered Financial Analyst, and Certified Exit Planning Advisor designations.