Have you recently made a new online only friend who just happened to ask you to consider investing in cryptocurrency on a Telegram or WhatsApp channel promising to make you wealthy?
If so, STOP right now and think about what you may or may not be doing. It is entirely possible you are converting thousands of dollars into cryptocurrency to be sent abroad where there are no safeguards to a complete stranger you are entrusting. In the large majority of cases when that happens, the person loses the money they sent. There are countless stories and billions of dollars lost in the United States each year because of individuals located abroad trying to scam retirees and others out of their hard earned money using promises of amazing profits and unprecedented gains. In reality, you are transferring money over that will never be seen again.
Over the last few years, a crypto-currency scam involving an investment scheme and follow up payments have victimized thousands of unsuspecting victims across the United States. An online only friend will magically introduce you to the world of crypto currency and then how they can help you take advantage of and make gains in the cryptocurrency markets. You will be asked to convert some cash to cryptocurrency and transfer it to a designated cryptocurrency wallet. You’ll then be presented with an account which should show what appears to be gains based on your investment. Over time as you ask to withdraw money from the account, the people will ask that you pay a “tax payment” before they can release the money. That tax payment is a sure sign that you are being scammed because the IRS collects taxes from you, not from a third party who is investing on your behalf. Be aware and look out of these kind of scams as they prey on unsophisticated investors who aren’t fully familiar with how investment contracts work. These are more commonly known as a pig-butchering scam.
If you are being asked by a foreign internet stranger to invest hundreds of thousands of dollars in one of these “opportunities,” first ask a lawyer who specializes in identifying these kind of scams to provide an objective review of what you are being offered. We’ve helped prevent numerous retirees and individuals from being defrauded or at least further defrauded and we can help you potentially prevent the loss of hundreds of thousands of dollars with a quick review and report on our end. These services are usually done on a flat-fee basis and we are confident we can distinguish between an actual investment opportunity and someone trying to fish away your hard-earned retirement or inheritance money. Let our lawyers help you and save your hard-earned retirement money from a potentially devastating financial loss.
