Guarantees are a tantalizing way to spice up any offer, but there is no such thing in the investment world.
The Financial Industry Regulatory Authority (FINRA) recently issued an investor alert to warn people about the dangers of scammers posing as regulators in an attempt to target potential victims and separate them from their hard-earned money.
“We want you to know that neither FINRA, nor any of its executives, will ever provide a "guarantee" on an investment or offer to facilitate your participation in any sort of money-making scheme,” FINRA wrote. “Never.”
What To Look Out For In Potential Imposter Scams
Recent scammers have gone to great lengths to come across as legitimate as possible, including using FINRA’s logo, name, identity of officials, and posing as FINRA CEO Robert Cook. In messages sent to potential victims, the scammers are claiming that FINRA provided guarantees for an investment pitch that was actually just an advance-fee scam.
Common advance-fee scams attempt to convince potential victims to send money to pay for regulatory or administrative charges associated with buying back stocks that are currently underperforming. These scammers typically attempt to build a rapport with their targets and may send official-looking documents in order to give an air of legitimacy to their offers.
At Meyer Wilson, our investment fraud attorneys have helped over a thousand victims of investment fraud fight for and secure the compensation they deserve. Through our attorneys' efforts, we have recovered more than $350 million in verdicts and settlements for our clients, and are ready to use our knowledge and experience to help you in your case. Send us your information to request a free case consultation, or call us at one of our offices located across the United States to speak with a member of our firm today.
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