What to Do if You've Already Invested in a High Yield Investment Scam
Four Steps For When You Suspect a High Yield Investment Scam
We recently talked about how to spot high-yield investment fraud, but what happens if you’ve already become a victim? Here are four steps you should take as soon as you suspect a scam:
- Contact an investment scam attorney as soon as possible. The single most important thing you can do if you suspect high-yield investment fraud is contact an experienced investment lawyer as quickly as you can for guidance. An experienced investment fraud lawyer can help you pinpoint the scam and take action to recover your losses.
- Do not try to take advantage of the scam. If you believe that the investment program you’re involved in is a Ponzi scheme or otherwise fraudulent, you may be tempted to try to outsmart the scam and make a little extra cash. Keep in mind that fraudsters are good at what they do, and you’ll almost always come out on the losing end.
- Do not refer more people to the scam. Although you may be tempted to try to recover some of your losses through referral bonuses, realize that you are only putting yourself and more unsuspecting people at risk of what is considered affinity fraud.
- Do not continue to pay into the scam. Although it seems obvious, this is worth mentioning. If you believe that you are involved in high-yield investment fraud, do not continue to send in payments and reinvest until you’re sure everything is legitimate.
The investment fraud attorneys Meyer Wilson have more than 50 years of collective experience representing harmed investors across the nation in stockbroker mediation, arbitration, and litigation.
If you have been the victim of high-yield investment fraud or an online investment scam, reach out to us today to schedule a completely free and confidential legal consultation with an experienced investment scam attorney.