SEC Renews Investor Warning About Government Imposters

by Wall Street Fraud on December 12, 2012

Investment fraud attorneyThe Securities and Exchange Commission recently issued an updated Investor Alert about fraudulent solicitations that purport to be affiliated with or sponsored by the SEC and its staff. This ongoing scam uses the guise of an official government agency to trick investors into providing their personal investment account information.

The Alert reminds investors that the SEC does not endorse investment offers, assist in the purchase or sale of securities, or participate in money transfers.  For instance, SEC staff will not contact individuals by telephone or email for purposes of:

  • Seeking assistance with a fund transfer;
  • Forwarding investment offers to them;
  • Advising individuals that they own certain securities;
  • Telling investors that they are eligible to receive disbursements from an investor claims fund or class action settlement; or
  • Offering grants or other financial assistance (especially for an upfront fee).

The SEC will also never ask asking for detailed personal and financial information, such as shareholdings and PIN numbers. Therefore, if you receive a telephone call or email from someone claiming to be from the SEC (or another government agency), it is important to verify the person's identity before sharing any information.

As highlighted by the Investor Alert, you can use the SEC's personnel locator, (202) 551-6000, to verify whether the caller is an SEC staff member and to speak with him or her directly.

If you have been the victim of securities 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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