Monday, November 13, 2006

Investigate Before You Invest

At Sherlock Investigations we get many cases from people who've invested their life savings with some "Wall Street" firm. In every case, they invested just a few thousand dollars for starters. Within a short time, the return on their investment reaped a great harvest. After they had taken the bait, and, yes, that's what they did, they invested a much larger sum.

When the time came to reap their great reward, the investor was gone. Then they hired Sherlock Investigations to find the person. In some cases we found the person, and when we did, they were arrested.

When I mentioned a "Wall Street firm" above, I didn't really mean it. Anyone can have a nice web site designed, and anyone can rent a phone, a desk, or a cubbyhole from firms located on Wall Street who rent to such fly-by-night companies.

In New York there are a number of such companies. They're on Wall Street, Madison Avenue, and the Empire State Building. Anyone can have a prestigious address.

Most of the time, our cases involving scam artists are past-tense. But, last week we had a client from Italy who was interested in investing with a New York-based company. Fortunately, he hired us to check out the company first.

It turned out that the company was run by scam artists, and two of the people involved were wanted by authorities in Europe.

Always investigate before you invest. If you don't, you could lose your retirement, your life savings, and your home.

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