Who should be most worried about Ponzi scheme warning signs? A securities fraud lawyer talks about the most commonly targeted groups.
As a securities fraud lawyer, I have been asked a lot of questions about Ponzi schemes. One of the most common questions has to do with who gets taken in by Ponzi schemes. The unfortunate answer is that anyone can be taken in by a Ponzi scheme – regardless of age, background, financial status, or experience with investing. It’s part of what makes Ponzi schemes so devastating for its victims.
The Ponzi scheme is built around keeping up an appearance of legitimacy, and it often works. It’s easy to be lured in, and it’s difficult to figure out anything is wrong when you are getting paid and seemingly receiving statements.
However, although anyone could become a Ponzi scheme victim, there are a few groups that are often targeted, including:
- Those who have just retired or are about to retire.
- Those who are new to investing.
- Experienced investors who are working with a new broker or advisor.
- Members of religious congregations and other large organizations.
If you’d like more information about Ponzi scheme warning signs or avoiding investment scams, request your FREE copy of our book Five Signs of Investment Fraud …And What to Do if it’s Happened to You.
If you have already been taken in by a Ponzi scheme, don’t wait until it’s too late to recover your investment losses. Meyer Wilson represents investors nationwide in stockbroker mediation, arbitration, and litigation, and we would be happy to talk about your situation in a completely free, no-obligation legal consultation. Speak with our investment fraud attorneys today for help.