In the wake of the devastation left after Hurricane Harvey, the Florida Office of Financial Regulation (OFR) has issued a warning about potential investment scams tied to relief efforts for victims of the disaster.
According to the OFR, these scams are promoting fake investments that mislead unsuspecting investors into believing that they are going to help those suffering from the disaster. The OFR has identified several warning signs that an investment offer may be a scam. These warning signs include:
- Unsolicited phone calls, emails, or social media posts related to the sale of low price stock in companies trying to raise money for Hurricane Harvey relief efforts;
- Guaranteed investment returns;
- Limited time offers and other high pressure tactics;
- Tax-free investments;
- Offshore investments; and
- Little to no available information about the investment.
If you or someone you know has been a victim of a hurricane relief investment scam, the Morgan & Morgan Business Trial Group may be able to help. Claims for investment losses are typically subject to mandatory arbitration before the Financial Industry Regulatory Authority (FINRA). Because the rules and procedures of FINRA panels are different than traditional courts of law, it is important to hire attorneys well-versed in securities arbitration to handle your case.
Securities arbitration is different than traditional lawsuits and should be handled by attorneys familiar with FINRA policies and procedures.
Our attorneys have an extensive understanding of securities laws and FINRA policies. We also benefit from our practical experience in and around the securities industry. Business Trial Group attorneys have worked in brokerages, earned MBAs, and spent many years as defense lawyers for Wall Street firms.
With the support of a 350-plus attorney firm and the resources necessary to take on the most complex investment and securities cases, the Business Trial Group is dedicated to achieving the best possible result in your case. Because we represent clients on a contingency fee basis, our clients pay no upfront fees or retainers, and we only receive a fee if we successfully recover compensation on your behalf.
For a no cost and no obligation case review, please call us at (877) 599 3102 or fill out our case review form.