Con artists at work
The North American Securities Administrators Association has come out with its annual list of infamy: The favorite financial products and financial practices promoted by con artists. Financial crooks feed off troubled times.
The Products Scams: Distressed real estate schemes, energy investments, gold and precious metal investments, promissory notes, and securitized life settlement contracts.
The Practice Scams: Affinity fraud, bogus or exaggerated credentials, mirror trading, private placements, and securities and investment advice offered by unlicensed agents.
You can read the details of the scams listed by the regulator here.