SEC warns Ponzi scheme complaints see ‘significant uptick’ in COVID world

By Around the Web

(ZEROHEDGE) – The U.S. Securities and Exchange Commission (SEC) released a statement Monday to investors, warning that the agency has experienced “a significant uptick in tips, complaints, and referrals involving investment scams.”

The SEC’s Office of Investor Education and Advocacy urged investors to be on “high alert” for fraudsters during the COVID-19 pandemic.

The agency warned against “frauds like Ponzi schemes, fake CD scams, bogus stock promotions, and community-based financial scams.” The SEC wasn’t clear in the extent of the increase in fraud complaints or current investigations.

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