This very valuable information on the warning signs of investment fraud, comes from Louisiana’s Office of Financial Institutions (OFI). They highly caution all potential investors to thoroughly check out every investment opportunity.
" *Company will pay any tax on interest earned
*Company will pay any surrender penalty incurred by the investor
*Company will pay the investor a “Finder’s Fee”, “Referral Fee”, or “Bonus” for recruiting new investors
*There is NO prospectus or written offering material
*No monthly account balance statement
*Monthly account balance statement is generated by the individual, rather than by the company where the money is invested
*Checks to open the investment are made payable to the individual, rather than to the company where the money is to be invested
*Wire transfers to open the investment are wired to the individual’s account, rather than the company’s account where the money is to be invested
*Sales person will not give specific information as to precisely where or how the money will be invested
*The company only has a cell phone, rather than a landline phone
*The company only has a post office box or website, rather than a physical address."
If you or a loved one have suffered financial losses due to your broker/dealers’ recommendations, call Soreide Law Group for a free consultation with an attorney: 888-760-6552.
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