State securities regulators reported 59 formal enforcement actions involving affinity fraud
can not only be financially devastating to the victims, but often has the perverse effect of causing victims to lose trust in the group or affiliation that was previously a source of comfort or support.
This deceptive advertising should be sufficient for the international scammer to be able to make referrals and share fees with the local Florida attorney in a scheme based on affinity fraud
To this end, the Securities and Exchange Commission (SEC) has issued a new Investor Alert that zeroes in on preventing affinity fraud
Despite the imprisonment of Southwick and other con men like him, much has remained the same Utah is still fertile soil for all sorts of white-collar crimes and, especially, for affinity fraud
This case offers an example of the damage affinity fraud
can cause," Galvin is quoted as saying in the release.
causes the same economic harm as any financial fraud.
This is an example of an affinity fraud
because with his Ponzi scheme he preyed heavily on the Jewish community, destroying the fortunes of numerous Jewish charities and institutions.
Among the latest are a $75 million affinity fraud
targeting members of the Chinese-American community and a scam involving Edward T.
The colossal $50 billion Ponzi scheme engineered by Madoff has been characterized, in part, as an affinity fraud
because he seems to have exploited his Jewish connections in New York City, Florida and other parts of the United States and abroad.
: According to the Securities and Exchange Commission, affinity fraud
is an investment scam that preys on members of groups, such as religious or ethnic communities, professional groups or the elderly, by exploiting the trust and friendships that exist within the group.
is a particularly insidious form of betrayal because it is like stealing from family members.