Stockbroker Fraud FINRA Study
In one of my last blogs on stockbroker fraud, I started a list of of common mistakes investors make, and how common they really are. Today, I’m going to continue to arm you with valuable information to help protect you from securities fraud. These are statistics compiled from a survey taken by experienced investors who had been known victims of specific types of securities fraud and compared against national investor trends. In fact 81% of those who responded to the survey had been investing for 10 years or more, and 53% had been investing for at least 20 years. [1]
Scary Stockbroker Fraud Statistic #5
73% of the fraud victims surveyed either currently owned high risk investments or had owned them in the past. This is scary because 58% of the national average investors said they were interested in purchasing high risk investments in the future. These investments can often times be the place where cons committing stockbroker fraud are looking for victims, as you may recognize from my previous blogs.
Scary Stockbroker Fraud Statistic #6
58% of those who had already been victims of stockbroker fraud said they were significantly less likely to purchase bonds than they were to purchase riskier investments. 31% of stockbroker fraud victims said they were more likely to purchase penny stocks, 23% would rather purchase futures/options, 26% preferred promissory notes secured by real estate, and 24% of securities fraud victims liked private investments in foreign currency or foreign banks over lower risk options,
Scary Stockbroker Fraud Statistic #7
One in five investors (20%) in the national sample were unable to recognize the typical types of persuasion used by con men to commit stockbroker fraud.
Please, if you are not getting anywhere with resolving securities issues on your own, call S. David Anton of Anton Legal Group!
S. David Anton, Esquire is a Certified Arbitrator for the Financial Industry Regulatory Authority (FINRA), formerly the NASD, which is the national organization responsible for overseeing the securities industry. He has served as a Judge/Panelist and rendered decisions in many securities arbitration, giving him a unique perspective on his client’s cases.
FOR SECURITIES ADVICE, PLEASE FEEL FREE TO CONTACT DAVID ANTON OF THE ANTON LEGAL GROUP AT 813-443-5249.
[1] http://www.finra.org/web/