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Wednesday, March 4, 2009

FINANCIAL SCAMS SPREAD


R
esearchers say people are more susceptible to investment scams such as Ponzi and pyramid schemes after going through adverse life events — a job loss, foreclosure or some other financial hardship.

So it's not surprising that many experts think the nation's deepening economic crisis is creating a whole new universe of potential scam victims every day. In fact, it makes perfect sense.

An estimated $6 trillion in wealth has been lost since the housing bubble burst. Mutual funds suffered $191 billion in losses in January alone, according to the Investment Company Institute.

Continue reading Financial Scams

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