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Warning to Senior Investors: Be Aware of Utah Ponzi Schemes

David P. Meyer

As another alleged Utah Ponzi scheme hits the news, the Utah Division of Securities warns seniors to beware potential investment fraud. There seems to have been a significant number of Utah investment scams and Ponzi schemes recently that have specifically targeted older investors and preyed upon their retirement funds.

Regulators warn that seniors should do their research and question any investment opportunity that offers high returns in a down economy, but they specifically warned against:

  • Promissory notes
  • Investments in gold or other precious metals
  • Oil and gas investments
  • Energy investments
  • Securitized life settlement contracts

Sound familiar? It seems that these types of scams are currently popular nationwide, so investors should be prepared to ask questions, meet in person, and do their research before putting their money into any new investment.

If you have already lost money to a Utah Ponzi scheme or other type of investment fraud, speak with an experienced Utah investment fraud lawyer with Meyer Wilson today. We take pride in helping our clients recover their cash through stockbroker mediation, arbitration, and litigation.