US regulators have charged a financial advisor with trying to sell $500bn of fake securities on LinkedIn, amid warnings to investors and advisory firms about the risks of buying through social networks. The Securities and Exchange Commission (SEC) alleges [PDF] that Illinois-based Anthony Fields offered hundreds of billions of …
"The Securities and Exchange Commission (SEC) alleges that Illinois-based Anthony Fields offered hundreds of billions of dollars in fraudulent securities through a few networking sites, including LinkedIn."
Which other sites was he on? I can only find LinkedIn mentioned.
His mistake was letting his registration lapse - if he'd kept his registration current he could have stuck to selling certificate of deposit like the Stanford Financial Group did for years.
"buying through social networks"
Dear Lord Almighty, tell me please that those who do such a stupid thing are the same ones that buy Viagra from a spam ad ?
A fool and his money are soon parted.
The scariest thing are the people that fall for this kind of thing, they have been given a job by someone somewhere to be able to have the money to lose in this kind of scam. I wouldn't let the people that fall for this kind of scam make the decision "paper or plastic" on their own, let alone any other more important decision. Where do the "victims" work?
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