Con Artists Aim To Take Your Investment Money, Artfully
They call con artists “artists” for a reason. Most Ponzi schemers and investment scammers aren’t necessarily good at creating airtight, “perfect crime” investment cons, but they are good at manipulating people, misdirecting attention, and navigating the social world with graceful deception. Just like stage magicians, con artists can't actually produce high investment returns out of thin air, but they can definitely keep you from realizing what their left hand is doing.
Conning investors out of their money isn’t easy, and it takes a certain amount of finesse and creativity. We urge you to watch out for these kinds of creative, dirty tricks:
- Lies. It’s probably the oldest trick in the book, but flat-out lies are often the easiest way to get someone involved in investment fraud. That’s why it’s so important to always check out everything you’ve been told.
- Sleight of hand. A fraudster or unscrupulous broker might try to play up the positives of an investment opportunity while sliding the negatives under the rug.
- Peer pressure. A con artist might point to other investors as an example and attempt to pressure you with the old “everyone else is doing it” line.
- Appealing to greed. Let’s admit it—almost everyone is motivated by the prospect of making more money. A con artist might talk up high, fast returns to get you excited about the opportunity and not thinking clearly.
- Manipulating your emotions. Whether it’s playing on your retirement fears or giving you a sob story about his or her own situation, many con artists will try to sell you on investment fraud by engaging your emotions.
- Leveraging your friendship. A lot of fraudsters out there attempt to build “friendships” with new investors for their scams, and it’s not uncommon for fraudsters to even prey on their own friends and families. These con artists know how hard it can be to turn down a friend and use it to their advantage.
If you believe that you’ve already become a victim of an investment scam, recovering your investment losses can be a complicated and tiring process. The investment fraud attorneys with Meyer Wilson are here to answer your questions about FINRA mediation, arbitration, and litigation, and we’d be happy to meet with you in a completely free and confidential initial consultation to discuss your options. Please reach out to us today by phone or simply get started by filling out the easy online contact form on this page.
The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .