The Florida Office of Financial Regulation has released a list of some of the top investment scams affecting residents of Central and South Florida. Franklin Widman, who is Director of Securities for the agency, urges that "people need to be on guard."
Widman reminds Florida investors to always be on the lookout for the "red flags" of investment and securities fraud, and described 4 scams that recently bilked Floridians out of their hard-earned cash:
- Distressed real estate schemes
- Gold and silver investments
- Unlicensed agents and unregistered securities.
- Affinity fraud through churches and social groups
Widman reminds investors to do their research, be sure their brokers have the proper licensing, and check that the securities they are purchasing are registered. Additionally, investors should continue to monitor their accounts and agents over time to make sure everything looks the way it should.
If you have been the victim of Central Florida securities fraud, contact an experienced FINRA lawyer with Meyer Wilson. We take pride in helping victims of Ponzi schemes and securities fraud recover their losses through stockbroker mediation, arbitration, and litigation.