the rag

swindling operation

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Last updated

July 13, 2026

Quick Summary

The term "rag" can refer to a playful prank or joke, often seen in a collegiate setting. However, in the context of swindling operations, "the rag" is a specific type of confidence game. This elaborate swindle involves a fake brokerage house where victims are deceived with false stock quotations. Swindlers, posing as investment brokers, manipulate the victim's trust to steal their money. Confidence games, in general, exploit the victim's trust in the swindler and often go unreported due to the victim's fear of prosecution for their own involvement.12

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confidence game
Another game, called “the rag,” used a fake brokerage house, where the victim was deceived by false stock quotations placed by swindlers, or “con men,” posing as investment brokers.
Read More
Another game, called “the rag,” used a fake brokerage house, where the victim was deceived by false stock quotations placed by swindlers, or “con men,” posing as investment brokers.
Read More