College students often get started investing online, but it can be risky. Learn more about online investment scams from an investment fraud attorney.
As the economy continues to be sluggish, many college students are looking toward long-term investments to secure a stable financial future – and many of them are doing it online. Unfortunately, many of these new investors are inexperienced, and they end up falling prey to Ponzi schemes, unscrupulous brokers, and other online investment scams.
While planning your financial future early is never a bad idea, it is important to choose your investments wisely and do your research before handing over your cash. Turning to the Internet may be natural to the younger generation in this technological day and age, but remember to be careful. Taking advantage of online investment opportunities can be risky no matter what your experience level.
As an investment fraud lawyer, I’d like to highlight these two major tricks you may see online:
- Social Media Investment Fraud. A popular trick is to become your “friend” on social media sites before making a pitch for a “sure thing” investment. Treat any investment recommendations you get from online friends with suspicion.
- “Pump and Dump” Schemes. Fraudsters may try to “pump” up a poor investment with exciting advertising, fake press releases, and glowing testimonials before “dumping” their shares and running with the cash – leaving investors holding worthless stocks.
For more information, our investment fraud attorneys would be happy to send a completely FREE copy of Five Signs of Investment Fraud …And What to Do if it’s Happened to You, which is a helpful resource for investors of any skill level.
If you have already lost money in a suspected online investment scam, reach out to an experienced investment fraud lawyer today. We would be happy to discuss your situation in a completely free and confidential legal consultation.