In 2013, Russian-born Anna Sorokin posed as an art socialite and German heiress in the New York City art scene. Using her connections, Sorokin set up a fake studio and manufactured false documents to substantiate her claims of having a $67 million trust fund. All in all, Sorkin defrauded members of the New York art and social scene of more than $275,000 between 2013 and 2017 (here). She is a classic example of a fake rich person – or someone claiming wealth to manipulate or deceive others.
Unfortunately, there are many more people like her out there. So that you won’t get fooled, here are some signs of a fake rich person and how you can spot them.
1. They rely on credit cards to pay for everything.
A person may have expensive, luxury goods. However, that doesn’t mean they’re rich. If you want to know if someone is faking, pay attention to how they pay for things. Are they constantly using credit cards? Or, do they pay with cash or debit? Do they have a black card? Has their payment ever been denied?
Many people dig themselves deep into debt by using their credit cards to keep up appearances. This usually means they have no savings and everything they own is purchased on borrowed money. In contrast, the wealthy typically have access to cash or cash equivalents and have no need to borrow to fund consumer expenditures.
2. They need to impress people.
Another sign of a fake rich person is how far they will go to impress people. They need validation from those with wealth and status because they thrive on the approval of others.
Therefore, they go to extra lengths to show off status items that give the impression that they are rich. This could include wearing expensive clothing or apparel items with designer labels. Or, they might drive luxury cars and stay in expensive hotels. All of these behaviors indicate someone who is trying to use perceived wealth to gain status.
Think of people who constantly post on social media about their wealth. Some work it into conversations to let people know how much they paid for a particular item. Others seem to have a knack for redirecting all their conversations back to their expensive purchases and achievements. All of these are red flags that things aren’t as they seem.
One recent example of this was marketer Tai Lopez. He became infamous after he posted a marketing video showing off expensive sports cars, a large book collection, and an impressive mansion. The public later learned that he leased the mansion and cars and he had never read his books.
3. They don’t meet their commitments or they violate the law.
According to criminologists, people who engage in one kind of crime often engage in other crimes(here). For example, people who commit murder are likely to have a history of assault. Additionally, people who cheat on their taxes are also more prone to defraud their employers.
Based on this logic, a fake rich person is more likely to venture into legal and ethical gray areas. Since they are lying about their financial situation, there is a high probability they engage in other kinds of misconduct – such as failure to repay loans or failure to meet other commitments. Although people make financial mistakes, patterns of violations and misconduct indicate that a person isn’t as financially secure as they want others to believe.
4. They can’t hold deeper conversations about building wealth.
In many cases, people who have built a significant net worth are often comfortable talking about money. This is especially true for people who have built their wealth through investing and entrepreneurship. In addition, managing large amounts of money often means the wealthy have to have a working knowledge of advanced tax and financial management strategies.
So, fake rich people often reveal themselves by their lack of financial knowledge. Most people can talk on a surface level about investing and personal finance. They may even have practiced a few conversations or prepared scripted responses to avoid suspicion. But when pressed, they reveal that they don’t have financial literacy. Perhaps they can’t provide details on how they built their wealth since it doesn’t come from their experience. However, their falsities are usually revealed through a lack of detailed awareness of advanced legal or accounting matters.
5. They constantly brag about who they know or where they have been.
Have you noticed that the person in question finds ways to namedrop important connections? It’s because they know the power of these connections. Furthermore, they want to gain clout in social circles, emphasize social connections, and make themselves seem more important.
Fake rich people are the type to brag about places they go to or post expensive vacations on social media. But when it comes time to meet these people or frequent these locales, there’s always an excuse why they can’t. Therefore, be cautious around the boastful and take everything with a grain of salt.
For example, in 2017 Ricardo “Maserati Ric” Agnant claimed to be a former member of the Miami Dolphins to improve his dating prospects. According to Black Entertainment Television in 2014, Agnant managed to sneak his way into the NFL Regional combine at the Dolphins training (1). He later exaggerated his day on the field in his attempts to catfish numerous women and con car dealerships into thinking he played for the NFL. However, he eventually brought too much attention to himself and was outed on social media. This effectively ended his charade and caused him to retreat from the public eye.
6. Their circle consists of other fake rich people.
According to Jim Rohn, we are the average of the 5 people we spend the most time with. So, chances are if they hang around other fake rich people, they are all in the same boat. This is typically because people with similar interests gather to learn from each other or to provide mutual support to each other.
In contrast, people who are legitimately wealthy also spend time together. This is due to shared interests and life circumstances the rich hold, as well as for networking, improved access to opportunities and knowledge transmission.
7. There’s always an excuse.
As with all liars, there’s always an excuse. The fake rich avoid plans that involve expensive restaurants, ticket venues, vacations, or other things they can’t afford. And when it comes time to pay, they frequently “forget their wallet” or need to borrow money since they “don’t have enough money in that account right now.”
Other excuses include reasons why they can’t host gatherings, why they can’t show you the expensive cars in their Instagram feeds, a tale about the causes of their latest business failure, or some schedule conflict that prevents you from meeting important contacts. Eventually, the excuses run dry, and the truth comes out.
This is precisely what happened to con artist Anna Sorokin. Eventually, her acquaintances uncovered her fraud when her credit card stopped working and she “borrowed” money from a friend. The mountain of lies she had constructed imploded and exposed her. This “friend” later turned her over to the FBI. After the trial, the jury convicted her and she was sentenced to 4 – 12 years for grand larceny and theft services. Her story proves that the truth will come out in the end, no matter how hard you try to hide it.
What Separates the Real from the Fake?
In the digital age, appearances easily disguise the truth. So, how can you distinguish a fake rich person from a genuine article? According to numerous authors, real rich people demonstrate certain characteristics. For example, they:
- Read consistently for self-improvement.
- Set and build goals around their ambitions.
- Build relationships with successful people.
- Focus on their health.
- Adopt a frugal mindset, and spend money on quality items at a discount.
- Track what they spend.
- Save and invest 10% to 20% of their income consistently over time.
- Work a lot (at least 50 hours a week).
- Limit recreational screen time and junk food.
- Generally control their temper, thoughts, and emotions.
If you want a broader discussion about the habits and lifestyles of the rich, two good resources are The Millionaire Next Door by marketing professors Thomas Stanley and William Danko and Rich Habits by accountant Tom Corley. Both books discuss the habits of the wealthy, including many of those on this list.
Note, that broadcasting wealth to influence others is generally not on the list of the characteristics of the rich. If someone is truly wealthy, they do not need to prove it to you. Only those with something to hide need to flaunt their wealth. So, if someone poses as a fake rich person, it will eventually come out through their attitudes and behavior.
You Might Also Enjoy
- Rich Habits Versus Poor Habits: A comprehensive analysis of the things rich people do that make them rich.
- The #1 Way the Uber-Rich Made Their Fortunes: A fun article on how the uber rich got that way.
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Jenny Smedra is an avid world traveler, ESL teacher, former archaeologist, and freelance writer. Choosing a life abroad had strengthened her commitment to finding ways to bring people together across language and cultural barriers. While most of her time is dedicated to either working with children, she also enjoys good friends, good food, and new adventures.
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