Among the high line gamblers and hustlers I've been around in my life, their word was good when it came to money owed, loaned or "invested." And then there are the other "gamblers" hanging around the poolrooms and casinos. With them anything goes, and believe me I've seen every conceivable con game. I got caught in a couple of traps in my earlier years but they turned out to be valuable lessons that helped me later in life. As I got older and involved in other money making ventures I became much more aware of what to look out for and never to trust anything without verifying it on my own. I could probably write another book about some of the shady deals I've been approached with by some very charming salesman (and even one very attractive woman who worked at a casino where I had a business). I'll just say my early life experiences taught me how to smell a rat.
My only advice to the younger crowd on here is that if someone tells you they can take your 50 grand and give you a 50% return (75G's total) in three months they are lying, 100%. If there was such a deal they wouldn't need you! There is no perfect investment that will always work. Every situation is different in business, real estate or owning a pig farm. Check all boxes before investing your money!
I recently saved a dear friend of mine over 200K he was ready to hand over to an old friend who had long been his sponsor at AA. My friend inherited a large sum of money and right away his long time "buddy" came up with a plan for him to invest a portion of it. I got him to show me the "contract," and it was the biggest piece of crap imaginable. He didn't believe me and I told him he could let my sister look at it too, and she is an attorney. She laughed when she saw it. My friend found it hard to believe someone who had been so close to him for so long would screw him over, but I made it clear to him that was what was going to happen if he gave him that money. I said you might get a few small "interest" payments, and then something would go wrong with the deal. There would be delay after delay and finally nothing. I pulled him back from the brink of despair, how it feels when you know you've been taken for a ride.