Financial expert Dave Ramsey sounded the alarm after a caller revealed her in-laws were using her husband's Social Security number to make unauthorized investments, a move he called outright criminal.

On Sunday, caller Elizabeth told The Ramsey Show that she and her husband, both debt-free, discovered their in-laws had opened investment accounts in his name without permission.

"We found out essentially that investments and things are being made in his name even though he’s requested that they stop," she said, adding that the family was sending "refund checks" for taxes paid on the accounts.

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Ramsey reacted sharply, calling the father-in-law a "con artist" and warning, "This is criminal freaking fraud… And he’s going to jail time if they get Good God, people."

Co-host Ken Coleman emphasized the seriousness, noting that investigators in such cases "are the most uptight… they are purists. This is scary stuff."

Despite repeated requests for the accounts to be closed, the in-laws ignored them, prompting Ramsey to advise the husband to demand closure within 48 hours and prepare for legal action.

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Ramsey highlighted the dangers of mismanaged wealth.

Last month, A millionaire couple faced $15,000 in monthly expenses from multiple mortgages, depleting savings despite a high net worth, prompting Ramsey to advise selling non-essential properties and focusing on a paid-off home.

Separately, a 75-year-old couple lost over $500,000 in a cryptocurrency scam and borrowed $250,000 trying to recover it.

Co-hosts Rachel Cruze and Jade Warshaw emphasized careful documentation, budgeting and professional guidance to prevent further financial damage.

Both cases underscore the importance of managing debt, prioritizing cash flow, and being cautious with investments, regardless of wealth or age.

Photo courtesy: Shutterstock

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This article 'Criminal Freaking Fraud': Dave Ramsey Reacts To Shocking Case Of Family Using Husband's Social Security Without Permission originally appeared on Benzinga.com