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BBB Smart Investing

by Council of the Better Business Bureau

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nvestors lose millions every year to risky investments and fraudulent scams, and the problem is getting worse as more people manage their own retirement savings.

BBB, in partnership with the FINRA Investor Education Foundation, part of the Financial Industry Regulatory Authority, is here to help combat investment fraud and through the BBB Smart Investing program. … Continue Reading

BBB Smart Investing

by Better Business Bureau

Stock Fraud

Investors lose millions every year to risky investments and fraudulent scams, and the problem is getting worse as more people manage their own retirement savings. BBB has partnered with the FINRA Investor Education Foundation, part of the Financial Industry Regulatory Authority, to help combat investment fraud and through the BBB Smart Investing program. … Continue Reading

Investment Fraud and Elder Abuse: Trusted Agent Steals from Elderly

by Barry Zalma, Esq., CFE

Stock Fraud

Jasmine Jamrus-Kassim, a former independent insurance agent who sold annuities for Bankers Life and Casualty Co was sentenced to more than six years in prison for stealing more than $1 million from her elderly clients. Jamrus-Kassim was arrested in March 2011 after an investigation by Washington Insurance Commissioner Mike Kreidler’s special investigations unit found that she had taken $1.05 million from five clients. … Continue Reading

Investment Fraud: The Bigger They Are, the More Damage They Do

by Barry Zalma, Esq., CFE

cybercrime

Minor Vargas Calvo, 60, who was president of Provident Capital Indemnity Ltd. was convicted by a federal jury in Virginia. Calvo, a former Costa Rican insurance executive was convicted of all counts in a $485 million fraud scheme in which he was accused of lying to clients and investors about the financial stability of his company.

Calvo and Provident sold bonds guaranteeing funding for … Continue Reading

Investment Fraud: How To Avoid Ponzi Schemes

by Robert Siciliano

Employee

In response to National Fraud Awareness Week it’s important to bring attention to the biggest and worst investment fraud of all: the Ponzi Scheme.

Wikipedia defines a Ponzi scheme as fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation.
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