The Securities and Exchange Commission (SEC) recently published an investor alert in order to warn investors of scammers posing as SEC employees in a scheme to trick investors into revealing account details or sending money.
In the alert, the SEC clearly stated that it doesn’t contact investors to record trade details, confirm trades, or to set up a trading account. In addition, it states that government agencies don’t sponsor or endorse any individuals or specific firms, professional credentials, services, products, issuers, or securities.
The SEC secured an audio recording of one of these scammers making their pitch to a potential victim, included in the alert.
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“…I’m a senior compliance officer with the Securities and Exchange Commission… I am confirming a buy order from Mr. [REDACTED], who is a portfolio manager of [REDACTED]…in accordance to the regulations that are set forth by the Securities and Exchange Commission on the U.S. markets, Mr. [REDACTED], for the protection of both parties, what I’m going to do is record the details of the trade. It goes on file as a voice audio signature with the Securities and Exchange Commission as a regulated trade . . . It’s non-retractable…do I have your consent to place the order?”
If you were the victim of a scam, our investment fraud lawyers at Meyer Wilson are ready to hear your story. Send us the details of your case through our online form, or give us a call at one of our offices located across the country to schedule a free case consultation today.
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