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Even more frightening is how investing scams are becoming more and more tech savvy by the day, with scammers able to bypass dual authentication blocks and design illegitimate websites or portals ...
The SEC says that Internet fraud resides in several forms: Online investment newsletters that offer seemingly unbiased information free of charge about featured companies or recommending "stock picks of the month". These newsletter writers then sell shares, previously acquired at lower prices, when hype-generated buying drives the stock price up.
He was charged with fraud and forgery by Toronto police but was not convicted, since the Canadian courts lacked adequate trial time to give him a trial. The following year, he was arrested again and charged with fraud in a similar print investment scheme that netted $9 million. In 2018, he was convicted for fraud and sentenced to eight years.
The FTC reported that consumers reported losing more money to investment scams — more than $3.8 billion — than any other category in 2022. As CNBC noted, with investment scams, crypto is ...
Scams and confidence tricks are difficult to classify, because they change often and often contain elements of more than one type. Throughout this list, the perpetrator of the confidence trick is called the "con artist" or simply "artist", and the intended victim is the "mark".
No matter how trustworthy someone might seem, don't make investment decisions based on the advice of anyone who makes unsolicited contact with you online or through an app or text message.
Social media is full of scammers promising guaranteed returns on investment, and consumers lost billions of dollars to them last year. Troy Gochenour, 50, of Columbus, Ohio, was conned out of ...
The U.S. Securities and Exchange Commission (SEC) has said that "these fraudulent schemes involve the purported issuance, trading, or use of so-called 'prime' bank, 'prime' European bank or 'prime' world bank financial instruments, or other 'high yield investment programs.' (HYIP's) The fraud artists ... seek to mislead investors by suggesting ...