Something that a lot of investors don’t realize is that a simple internet search can save an investor or group of investors a lot of money. In many cases simply typing the name or locale into a search engine such as Google or Bing can protect a person from fraud.
Most of the scam artists that commit investment fraud have done it, over and over again. Some of them have been committing such crimes for decades, and they even have criminal records or a history of serving time in prison. Typing their name and the word fraud into a search engine can turn up interesting results. Similarly, typing the name of somebody offering an investment and the word lawsuit into a search engine also can produce very informative results. It is possible to sue con artists to get your money back. You can even sue in U.S. Courts foreign con artists who commit their crimes in other countries.
That means you can check out foreign investment opportunities with an online search. But don’t just read a single on-line posting about the fraud or lawsuit, read all the postings to obtain a full perspective of what happened so you can make a more educated decision. A person thinking of doing business in the United Arab Emirates or UAE (the Persian Gulf State where Dubai and Abu Dhabi are located) could type in the words lawsuit and UAE. This search might show you that New York attorney Howard Fenstersman has sued a group of a group of prominent businessmen in Abu Dhabi on behalf of a group of US investors who alleged that $18 million of their money had been stolen from a UAE bank.
Obviously, con artists and persons trying to drum up business would not tell you this, but an online search can. For example, shares in Medical Capital Holdings, a notorious pyramid scam based in Orange County , California , were sold by agents working for Securities America (a brokerage based in Nebraska ). Anybody who searched “Securities America” and the word “lawsuit would” have found that the brokerage is facing millions of dollars in lawsuits filed by investors who claimed they were ripped off by its brokers.
An online search can be one of the most powerful tools in stopping fraud and protecting investors. All investors should do so when considering new investments.