fisher investments scam

What is an investment scam?

An investment scam is the use of false or misleading information to trick investors into putting money into non-existent or unreliable projects in order to obtain improper benefits. There are many types of investment scams, and the common ones are as follows:

  • Ponzi scheme: This is a scheme that entices new investors to join with the promise of high returns. Scammers use new investors’ funds to pay the returns of old investors, creating the illusion that the project is working well, when in fact there is no real investment project. Once the new investor’s money is not enough to sustain the returns of the old investor, the scheme collapses and the investor loses his entire principal.
  • Virtual currency scam: This is a scam that uses the concept of virtual currency to trick investors into buying digital tokens that do not exist or have no value. Scammers often make up fake projects promising that the price of the virtual currency will increase, or that there will be other means of income, such as dividends, airdrops, etc. Scammers will also use pyramid schemes or speculation to attract more people to participate, and then sell at the high price and escape.
  • Pyramid scheme: This is a scheme that lures investors into joining through unreasonable rebates or incentive mechanisms for the purpose of developing downlines. Scammers usually claim to have a mysterious investment project that can bring huge profits, but require investors to pay a certain entry fee or buy a certain product, and then develop more lines, so as to obtain a commission or share. In fact, this scam does not have a real investment project, but only uses the investor’s interpersonal network to transfer and exploit funds.
  • Phishing scam: This is a scam that uses the name of a formal institution or well-known person to make false publicity or recommendations. Crooks usually forge some documents or qualifications, or use network technology to imitate regular institutions or well-known people’s websites, social media accounts, phone calls, etc., to recommend some investment projects to investors, claiming that there is a guarantee or high yield, in fact, it is their own projects, or other crooks’ projects.
  • The harm of investment fraud is huge, it will not only lead to investors’ property losses, but also affect investors’ confidence and mental health, and even cause social instability and unrest. Therefore, investors should be vigilant and learn ways to prevent investment scams, as follows:
  • Enhance financial knowledge and risk awareness, do not believe in the promise of high return and no risk, do not seek small profits, do not blindly follow the trend, and rationally analyze the feasibility and legitimacy of investment projects.
  • Verify the investor’s qualification and reputation, obtain investment information through formal channels, do not believe unofficial news or recommendations, to check the investor’s business license, tax registration, filing certificates and other documents, to inquire the investor’s historical performance, reputation, evaluation and other information, to pay attention to whether the investor has changed the legal person, address, contact information and so on.
  • Protect the security of personal information and funds, do not disclose your ID card, bank card, password and other information, do not easily remit or transfer money to strangers or institutions, do not use insecure payment methods or platforms, and promptly check your account balance and transaction records, and keep relevant contracts, vouchers, invoices and other evidence.
  • Keep alert and report to the police in a timely manner. Once you find or suspect signs of investment fraud, stop investing immediately, report or complain to relevant departments or institutions in a timely manner, report to the public security organs as soon as possible, cooperate with the police investigation and evidence collection, and strive to recover losses.

Finally, let’s look at a case of investment scams in the United States in recent years:

Fisher investments scam

Fisher Investments, a US-based money management firm, has been accused of being a scam by some of its customers and regulators.

The firm, which claims to have over 68,000 private clients and 175 institutional clients worldwide,has been sued for allegedly violating the National Do Not Call Registry and the Telephone Consumer Protection Act by making unsolicited cold calls The firm has also been criticized for its high fees, poor management, and horrible customer service Moreover, the firm has been cloned by fraudsters who target UK investors and pretend to be authorized by the FCA Fisher Investments denies any wrongdoing and says it is committed to providing quality service and advice to its clients.

Fisher Investments scam is an alarming phenomenon, which brings huge risks and losses to investors. The features of Fisher Investments scam are:

• Unsolicited phone calls, text messages, or emails trying to get investors’ attention.

• Offers that seem “too good to be true,” such as “discounts,” “free money,” or “risk-free, high-return” investment opportunities.

• Creating a false emergency that requires investors to act immediately or risk missing opportunities or facing penalties.

• Ask investors to provide personal information, such as account numbers, passwords, or identification.

• Provide falsified or low-quality documents, such as contracts, invoices, or certificates.

The harms of Fisher Investments scam are:

• Investors can be cheated out of their money or charged high fees.

• Investors may have their personal information exposed, or their identities stolen.

• Investors may be implicated in illegal or unethical activities or be held legally liable.

• Investors may lose confidence in the investment market or miss out on other, better investment opportunities.

The protection against Fisher Investments scam is:

• Do not trust unsolicited communications and verify the source and content.

• Don’t fall for offers that seem “too good to be true,” research and compare investment opportunities.

Do not easily allow an unfamiliar company or person to remotely access your computer or provide your personal information.

• Don’t give your money to an investment company without doing enough research and comparison, check their reputation, performance, fees, and services, and whether they are properly regulated and protected.

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