“If you invest, it’s important to do your due diligence or speak with a financial advisor to make sure your finances are in good hands.”
~ Pat Foran, CTV News
A recent story reported by Pat Foran of CTV News highlights how scammers operate:
- The scam appears to be very trustworthy and legitimate
- Quick initial gains convince people to put more into the scam
- The fraudsters disappear without a trace
As explained in this short video, a “pump and dump scam” involves buying a hyped “investment” which quickly rises and then suddenly becomes worthless.
These scams are incredibly prevalent and affect many people.
Please share this information with people you know.
Remember, if something sounds too good to be true, it probably is. If there is ever a question of legitimacy surrounding an investment, please contact your financial advisor.
Visit our website for more important information on your personal finances.
The most important benefit of working with a financial advisor is trust!
