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Delaware AG Warns of Investment Scams through Social Media

David P. Meyer

In a recent statement from his office, Delaware Attorney General Beau Biden warned investors to be on the lookout for social media scams. His concern comes because more and more people are using social media sites like Facebook to connect with friends and family. In the statement, Biden said that scam artists are also using these sites to lure in their victims.

Fraudsters are taking advantage of social media sites to create a sense of affinity with potential victims before selling them on stock scams and investment fraud. In other words, the fraudster will use the cozy, friendly environment of a social media site to manipulate your trust. The statement from Biden specifically named Facebook, Twitter, LinkedIn, and eHarmony as popular places for scammers to operate these social media investment scams.

Biden advised investors to be careful of offers that come through these avenues. He reminded investors to always ask for a prospectus, do some background research, look out for promises of high returns, and limit the access others have to your personal information on these sites.

The Delaware investment fraud attorneys with Meyer Wilson concur, and hope all investors will heed this word to the wise.