North Dakota | Investor's Watchblog

Insurance Agent Scam Targets the Elderly

On July 10, 2012, in Insurance Agents, North Dakota, North Dakota, Ponzi schemes, Scams, The Vigilant Investor, by IW Dog

There was a time when your parents protected you. Now is the time for you to return the favor.

Most insurance agents aren’t out to steal your money. Let me say that up front. But many are. Your challenge is recognizing those who are prone to rob you. It is a challenge because (1) you cannot tell the honest ones from the crooks just by sight, and (2) the pressures of everyday life often turn honest agents into dishonest agents seemingly overnight. A recent story from North Dakota tells a familiar tale. According to The Grand Forks Herald: (more…)

“You Mean I Could Invest in a Ponzi Scheme Through a Well-Known Brokerage Firm?”

On October 6, 2011, in Edward Jones, Firms, Minnesota, Minnesota, North Dakota, North Dakota, Ponzi schemes, Scams, Securities Industry (general), The Vigilant Investor, by IW Dog

There are things you need to know about how your broker operates that your broker wouldn’t tell you even if you waterboarded him.

I get the question all the time. I’ve criss-crossed the country twice already this year speaking about investment fraud and sound due diligence methods. It’s the rare occasion when someone doesn’t come up after the speech and ask something like this: ”My money is at ______ (fill in the blank with the name of a well-known brokerage firm), so I don’t have anything to worry about, right?” They are always disappointed with the answer: “Not necessarily.” Every year, hundreds-perhaps thousands-of investors lose tens-perhaps hundreds-of millions of dollars in Ponzi schemes sold by brokers for the same well-known firms whose commercials play during golf tournaments and NFL games. There is really only one difference between the firms you’ve heard of and the ones you haven’t: the marketing budget. A recent story from InvestmentNews makes the point: (more…)