How Can I Avoid Being the Victim of Common Types of Ohio Investment Fraud Scams?

 

A: The best way to avoid being the victim of a common investment scam in Ohio is to understand the most common types of scams and how to avoid them. Common scams include Ponzi schemes, pyramid schemes, "pump and dump" scams, advance fee fraud, and offshore scams.

FINRA recommends that investors protect themselves from these types of scams by*:

• Asking questions and verifying answers.
• Paying attention to potential "red flags."
• Checking out their investment professionals. For example, making sure your investment professional is appropriately licensed.
• Checking out the investment itself by making sure it is properly registered.
• Following up with FINRA if you have been offered, or if you have already purchased, a fraudulent investment.

It is important to remember that the fraudsters who commit these scams are trying to trick you and that sometimes they will succeed. If you have been financially harmed by an investment scam, contact a Cleveland investment fraud attorney at Meyer Wilson for more information.

We specialize in representing Ohio investors in stockbroker mediation, arbitration, and litigation claims. To find out more about investment fraud, please read our free report, Five Signs of Investment Fraud... And What to do if It's Happened to You and call a Cleveland investment fraud lawyer today at 614.224.6000 for more information about your specific case.

*Source: FINRA, Avoiding Investment Scams