How to Protect Your Investments: Five Simple Tips

by Wall Street Fraud on May 18, 2012

Tax HelpInvestment fraud is thriving in the current economy, as investors seek to recoup losses from the past few years and generate higher yields. To make sure you are not the next victim, investors need to be extra vigilant before and after making investments.

Here are five simple tips for keeping your money safe:

Understand Returns Are Not Guaranteed: The promise of guaranteed returns is one of the biggest red flag for investment fraud because it is impossible to have a risk-free investment. In addition, higher returns generally mean higher risks.

Don’t Invest More than You Are Willing to Lose: Before turning over your hard earned money, it is important to find out find out how you can get your money back and what fees or penalties may be involved. It is also important not to invest your money all in one place.

Keep Good Records: As we have highlighted on this blog, it is important to both read and save any statements, disclosures, sales materials, etc. that you receive in connection with an investment. These may become invaluable should you have a problem down the road.

Report Problems Immediately: If you suspect fraud or other problems with your investments, it is important to report it immediately. You should start with your advisory or brokerage firm, but if your concerns are not addressed, it is important to contact FINRA or your state’s securities regulator.

Hire a Private Attorney: In most cases, it is necessary to take individual action to get your money back. This means hiring an experienced securities fraud attorney.

Source: CNBC

If you have been the victim of investment fraud, we may be able to help you recover your losses. Contact us today at 215-839-3953 for a free consultation.

At Wall Street Fraud, we are dedicated to offering assistance to those who have been hurt by improper corporate or investment practices.

If you have been the victim of stock brokerage fraud, securities fraud, mutual fund fraud, stockbroker fraud, annuities fraud, or any other type of investment fraud or negligence, please contact our securities fraud attorneys today for a free case evaluation. Our talented and aggressive legal and professional staff is eager to help you recover your losses.

 

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Is Elder Fraud More Common Than We Think?

by Wall Street Fraud on May 17, 2012

Tax HelpUnfortunately, elder fraud is likely more common than reports suggest. Victims of elder fraud are often afraid or too embarrassed to admit they have been swindled. This not only leads to lower reporting, but also makes it easier for the fraudster to take advantage of the next victim.

The Federal Trade Commission estimates that 13.5 percent of the adult population is defrauded each year. While this number may seem high, it likely only captures a percentage of the victims.

A recent New York Times article sheds light on how underreported elder fraud may be. It points to the 2011 National Victim Profiling study underwritten by AARP Foundation. It compared 723 fraud victims with a 1,500-member control group to determine why some people are more susceptible to fraud. The survey findings revealed that overall, victims are more interested in persuasion tactics, expose themselves to more sales situations, and are less likely to take prevention actions to protect themselves than the general population.

The study also revealed how big the underreporting problem may be. Members of the study group were culled directly from law enforcement files across the country and were therefore confirmed fraud victims. However, when asked if they’d ever been scammed, only 40 percent answered in the affirmative.

Thankfully, efforts are underway to educate older Americans about fraud and teach them to protect their hard earned money. For specific tips, we invite you to check out our blog posts as well.

If you have been the victim of elder fraud, we may be able to help you recover your losses. Contact us today at 215-839-3953 for a free consultation.

At Wall Street Fraud, we are dedicated to offering assistance to those who have been hurt by improper corporate or investment practices.

If you have been the victim of stock brokerage fraud, securities fraud, mutual fund fraud, stockbroker fraud, annuities fraud, or any other type of investment fraud or negligence, please contact our securities fraud attorneys today for a free case evaluation. Our talented and aggressive legal and professional staff is eager to help you recover your losses.

 

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Hedge Fund Fraud Was a Family Affair

May 16, 2012

Tax HelpWhile the number of hedge funds has surged in recent years, regulators have largely failed to keep up by increasing oversight. As a result, hedge fund investors are often susceptible to securities fraud.

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Investment Fraud Case Proves Scammers Rarely Change Their Stripes

May 15, 2012

Tax HelpDavid Blech, who was previously convicted of investment fraud in 1998 and barred from the industry, pleaded guilty to two new charges of manipulating stock prices last week. He is also facing a related action by the Securities and Exchange Commission.

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Securities Fraud Litigation: Would You Let a Robot Pick Your Stocks?

May 15, 2012

Tax HelpThe Securities and Exchange Commission recently charged twin brothers in connection with an Internet-based pump-and-dump scheme involving a fake “stock picking robot” that purportedly identified penny stocks set to double in price. While the securities fraud may seem unbelievable, the brothers were able to bilk approximately 75,000 investors.

Read more on Securities Fraud Litigation: Would You Let a Robot Pick Your Stocks?…

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