Susan Barilich, P.C.
Call Today 818-500-0377

Duped by a scam artist? You are not alone

Who wouldn't like a bundle of money to drop into their laps? Who hasn't dreamed of a job with fewer responsibilities and more money? Who hasn't fantasized about the things they would do if they won the lottery? You may be like many who wish your investments brought larger, faster returns, and when someone offers you just such an opportunity, it may be hard for you to resist.

Unfortunately, every day people become victims of investment fraud simply because they want their money to work a little harder for them. Those who are most vulnerable to such scams are often facing financial struggles or fears for their future. The windfall the fraud promises is just what they had been hoping to find.

Too good to be true

If you recently accepted an investment opportunity that turned out to be a scam, you may feel embarrassed and foolish. Your embarrassment may prevent you from reporting the theft -- and it is theft -- to the proper authorities. It's a common reaction, and for this reason, there's no real way for analysts to track the amount of fraud that actually takes place annually.

While, in retrospect, you may recognize the tricks the fraudster used against you, there are many ways in which a scam artist influences his or her victims. You may want to think hard about handing your money to anyone using the following ploys:

  • Requiring you to invite others to join the plan before you begin to earn real mone
  • Promising you exclusive access to high returns with low risk
  • Pressuring you to make a decision fast or lose the opportunity
  • Offering you no written or legal proof of the validity of the investment
  • Preventing you from asking for professional advice about the investment
  • Using the name of a friend, mutual membership in an organization such as your church or your personal relationship as a factor of trust
  • Offering you a chance to make big money fast

In some cases, you may get a quick return, but this may simply be to lure you deeper into the scheme or get you to invest more money. Investment experts suggest that an average of seven percent is the highest return a diversified investor can expect over a 10 to 15-year investment plan. Anyone who offers you better than that may be trying to scam you.

If you are considering investing in a plan about which you have some reservations, the advice of a California attorney may prove invaluable. In addition, having such an advocate on your side when you are seeking restitution for investment fraud is a wise decision.

No Comments

Leave a comment
Comment Information

Susan Barilich, P.C. | 535 N. Brand Blvd., Ste. 504 | Glendale, CA 91203 | Phone: 818-500-0377 | Map & Directions