Financial fraud victims can be found at every level of socio-economic status, age bracket, and education. What makes all individuals vulnerable to Ponzi schemes is the cunning of those individuals behind them. Anyone can become tied to a schemer, placing trust in the individual based on previous or existing associations.
Commonly targeted victims of Ponzi scams may include:
When people hear of someone who was victimized by financial fraud, they frequently envision a person who has little understanding of investments and is easily tricked. However, that is not always the case. Fraud victims have various levels of investment experience, as well as different educational and professional backgrounds. In reality, investment fraud can happen to anyone.
Every year, countless investors lose money to Ponzi schemes. This form of fraud, which involves using money from new investors to pay initial investors, is prevalent throughout the country. It has impacted people from numerous income brackets, including celebrities.
The people who are typically the targets of these investment scams include:
Scam artists are able to lure investors by promising high returns in a short amount of time. The investments are usually described as safe and secure, which couldn’t be further from the truth.
Here is an example of a typical Ponzi scheme:
As you might imagine, thousands of investors fall into these categories each year in the United States, representing millions of dollars in losses. If you think that you may have been a victim of financial fraud, contact an experienced investment fraud attorney. A dedicated securities fraud attorney will take the time to go through your options and determine the best course of action. For more information, contact Meyer Wilson by calling or filling out our online form.