West Virginia Investment Fraud on the Rise
Authorities in West Virginia have recently released a warning for consumers
to be aware of certain scams. In the current economic environment, the
state is seeing a huge jump in the incidence of fraud and investment scams.
It is of utmost importance for West Virginians to be careful with their
cash and look out for suspicious activity when it comes to investments
and other opportunities.
Chris Hedges, Senior Assistant Attorney General, warns that not all scams are run by people who appear shady. He reminds us that "It doesn't have to be someone who you would mistrust. It could be a contractor having hard times or someone cleaning homes, or even a personal caregiver for children. They're ordinary everyday people who might have come under hard times to help cover their losses."
Credit card fraud, identity theft, and natural gas drilling fraud are among the most common schemes. Hedges states that credit card fraud is so prevalent because it is "easy to commit." West Virginia real estate scams and other investment scams are also a concern, especially those that promise high returns and no taxes.
US Attorney Booth Goodwin says, "Fraud can be devastating. It can cripple a small business working hard to meet day-to-day business obligations or bankrupt a small family trying to survive on a limited income." It is recommended that investors keep an eye on account statements and be vigilant in doing research before handing money to any company they haven't done business with in the past.
If you have been the victim of an investment scam, a West Virginia investment fraud attorney may be able to help you recover your losses. We have over 50 years of collective experience representing investors in stockbroker mediation, arbitration, and litigation claims.