{"id":4957,"date":"2018-02-10T19:17:20","date_gmt":"2018-02-11T01:17:20","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4957"},"modified":"2022-03-22T15:08:04","modified_gmt":"2022-03-22T20:08:04","slug":"finra-cautions-investors-about-scams-involving-the-impersonation-of-the-sro","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-cautions-investors-about-scams-involving-the-impersonation-of-the-sro\/","title":{"rendered":"FINRA Cautions Investors About Scams Involving the Impersonation of the SRO"},"content":{"rendered":"<p>\t\t\t\tThe Financial Industry Regulatory Authority is warning investors to watch out for <a href=\"https:\/\/www.investorlawyers.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">financial schemes<\/a> in which the fraudsters are pretending to be the self-regulatory organization. FINRA released its <em>Investor Alert<\/em> noting that there have been scammers using its FINRA logo and name. In some instances they are even forging the signature of FINRA president and CEO Robert W. Cook to try and solicit funds for fraudulent investments. Use of FINRA\u2019s name appears to be geared toward making the scheme appear legitimate.<\/p>\n<p>For example, an investor contacted the SRO to report one instance that purportedly involved the fraudster sending a letter that was supposedly from Cook and guaranteeing a proposed investment. The letter, however, had a number of errors, including mistakes involving FINRA\u2019s name and its leadership titles. Another alleged fraud involved e-mail pitches, again purportedly from Cook. The correspondence told targets that their outstanding inheritance fund had been \u201capproved for release.\u201d They were instructed to go abroad (beyond the jurisdiction of US authorities or regulators) to obtain this money. Meantime, the targets were asked to share certain personal data.<\/p>\n<p>A regulator imposter fraud might ask the victim to pay an advanced fee. In such scams, investors are asked to pay certain fees related to the purchase of stock shares that, in truth, are not doing well or are \u201cvirtually worthless.&#8221; However, upon sending the funds, investors rarely see the money returned to them or the funds that a stock buyback was supposed to render. The fraudster may even ask for more money.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/finra-cautions-investors-about-scams-involving-the-impersonation-of-the-sro\/#more-4957\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Industry Regulatory Authority is warning investors to watch out for financial schemes in which the fraudsters are pretending to be the self-regulatory organization. FINRA released its Investor Alert noting that there have been scammers using its FINRA logo and name. In some instances they are even forging the signature of FINRA president and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3739,3738,3801,3741],"tags":[2977],"class_list":["post-4957","post","type-post","status-publish","format-standard","hentry","category-finra","category-investor-fraud","category-sec","category-securities-fraud","tag-financial-schemes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FINRA Cautions Investors About Scams Involving the Impersonation of the SRO | SSEK Law Firm Blog<\/title>\n<meta name=\"description\" content=\"The Financial Industry Regulatory Authority is warning investors to watch out for financial schemes in which the fraudsters are pretending to be the self-regulatory organization.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/finra-cautions-investors-about-scams-involving-the-impersonation-of-the-sro\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"FINRA Cautions Investors About Scams Involving the Impersonation of the SRO | SSEK Law Firm Blog\" \/>\n<meta name=\"twitter:description\" content=\"The Financial Industry Regulatory Authority is warning investors to watch out for financial schemes in which the fraudsters are pretending to be the self-regulatory organization.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FINRA Cautions Investors About Scams Involving the Impersonation of the SRO | SSEK Law Firm Blog","description":"The Financial Industry Regulatory Authority is warning investors to watch out for financial schemes in which the fraudsters are pretending to be the self-regulatory organization.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/finra-cautions-investors-about-scams-involving-the-impersonation-of-the-sro\/","twitter_card":"summary_large_image","twitter_title":"FINRA Cautions Investors About Scams Involving the Impersonation of the SRO | SSEK Law Firm Blog","twitter_description":"The Financial Industry Regulatory Authority is warning investors to watch out for financial schemes in which the fraudsters are pretending to be the self-regulatory organization.","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; 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