The Division of Securities of the Ohio Department of Commerce has published an alert for investors – Affinity Fraud: Preying on the Faithful can be accessed here.
Affinity fraud “refers to investment scams that prey upon members of identifiable groups, including religious, elderly, ethnic and professional..” according to the publication which offers the following tips:
- Be wary of investments that seem closely tied to a particular religious belief.
- Be cautious if the promoter of an investment opportunity tries to capitalize on connections or a leadership position within a religious group.
- Be on your guard for a new member of your church who springs up out of no where with a ‘surefire’ investment scheme
- Ignore claims that religious-based investments are unregulated.
- Check out the promoter and the investment opportunity.
- Don’t give a break to the swindler who hides behind religion.
Rex Securities Law , located in Boca Raton, FL, provides representation to Ohio investors and nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
561 391 1900