Investment Fraud Tricks Scammers Use to Sell You
Although investment scams seem to come in more flavors than ice cream, the majority of scams boil down into just a few categories. In fact, if you listen carefully during the pitch, you can probably spot some of the earliest signs that an investment opportunity is actually a scam. As an investment scam lawyer, I hope to help you avoid getting lured into investment fraud by explaining some of the main tricks fraudsters use to sell you on a scam.
How Financial Fraudsters Sell You on an Investment Scam:
Aggressive sales tactics. If you feel harassed, pressured, or threatened by the promoter of the investment, it’s a big “red flag” that something is amiss. No legitimate promoter will try to force you to invest in a particular product.
Promising to “make you rich.” This is one of the oldest investment fraud tricks in the book—and it still works. It’s hard to turn down an opportunity that sounds too good to be true, especially if you’re going through rough financial times. Be wary of anyone who “guarantees” high returns, and take extra caution to research these types of opportunities very carefully before handing over your cash—no matter how good they sound.
Limited-time offers. Many fraudsters will try to sell you on a scam by telling you that it’s a “limited-time offer” that won’t be available tomorrow, hoping to get your money before you’ve had a chance to think about it or verify the promoter’s claims. Remember that most legitimate investments will still be there tomorrow.
Affinity fraud. A fraudster may try to use your community against you in selling a shady investment product. For example, the promoter may try to convince you to invest by pointing to other members of your church who have had great success. Some fraudsters have actually managed to wipe out the savings of entire congregations in this fashion.
If you have already become the victim of investment fraud, broker misconduct, or a Ponzi scheme, don’t wait until it’s too late to reach out to an experienced investment scam lawyer with Meyer Wilson. We have 50+ years of collective experience representing harmed investors across the nation in stockbroker mediation, arbitration, and litigation, and we look forward to putting our experience to work for you. Give us a call today to learn more.