So many investment scams in recent years have involved large groups of family and friends losing millions of dollars—sometimes even the family and friends of the fraudster who started the scheme! This is something commonly referred to asaffinity fraud. Unfortunately, when it comes to investing, it seems clear that you just can’t trust a friend.
If a friend, a family member, someone from your church, or a new buddy seems to be putting pressure on you to put your money into a new investment product or strategy, you should still approach it with the same care as any other investment. Don’t just take your friend’s word for it—verify what you’ve been told, do your research - often starting withFINRA's Broker Check, and make sure that the investment fits in with your overall investment portfolio and goals. We know how hard it can be to risk causing strife with a friend, but skipping the research and verification phase of any investment decision could end up costing you your life’s savings. After all, even a legitimate investment that is right for your friend may not be right for you—and any real friend should understand that.
Please take a moment to look over our helpful article, “How DO You Know if it's Investment Fraud?” And, for further direction, please feel free to speak in person with theinvestment fraud attorneys at Meyer Wilson. We offer a completely free and confidential initial consultation to talk about your situation, and your initial meeting with us puts you under no obligation. Give us a call today or simply get started by filling out the easy online contact form on this page.