This is why Kevin Baker, FBI white-collar crime expert, says investment scams often ride the coattails of hot news topics. Because gold prices have tripled in the past year, many enticing offers from con artists are also tripling.
Some things consumers should watch out for include:
- Free lunch seminars trying to entice potential investors
- Gold-buying offers sent in the mail or through email
- Salesmen trying to scare someone into investing by using the run-up in gold prices hook
Although some offers and sales people are legitimate, many are not. When a salesman starts playing on your fears about an economic meltdown, or how gold prices have already tripled, they are just trying to part you from your money. They are trying to use any hook they can to get you to invest with them.
If someone promises you high returns, be wary of such promises. No one actually knows what the future holds or can predict the rate of return on a specific gold coin.
In the last year, gold scammers have come out in full force, deceiving investors out of millions of dollars. Although many have been caught, there are still many lurking in the corners looking to dupe consumers and investors out of their money.
If you have been a victim of a precious metal scam or gold coin fraud, you need to talk with an experienced Texas gold coin fraud attorney. Call the Voss Law Firm today at 888-614-7730 for a free legal consultation, and find out your rights to recovery.