Who Are Ponzi Scheme Victims?

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.

People Who Are Ponzi Scheme Targets

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:

• Clients who have built relationships with their financial advisors, accountants and other trusted professionals
• Friends and family members of other victims

The Typical Ponzi Scheme

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:

1. An investor is promised a certain percentage return each month.
2. At the end of every month, the scam artist pays the investor this return from the money collected from new investors, which acts as dividends.
3. Since the investor is receiving what he or she perceives as dividends, the investor may encourage friends and family members to invest.
4. As soon as the pool of new investors dries up, the Ponzi scheme starts to collapse.

Rights of Ponzi Scheme Victims

If you have lost money due to a Ponzi scheme or some other form of investment fraud, you may be able to recover your losses. One of the first steps you should take, if you suspect fraud is to contact an experienced investment fraud attorney. A lawyer will be able to review your case and explain your options.

For more information, contact the law firm of Meyer Wilson by calling 866-827-6537 or filling out our online form.

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Five Signs of Investment Fraud…And What to Do if it's Happened to You is intended to to expose the ugly truth behind investor fraud and its devastating consequences

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