Would you give a million dollars to an unlicensed "investor" to make money for you? I'd just met a woman whose husband did that very thing over and over again, to the tune of 20 million dollars of investor's money. She is the former wife of Shawn Merriman, who is currently serving a 12.5-year sentence in federal prison for fraud. This way, it looks like the funds are earning high rates, but the fraudster is really just giving the old investors money the new investors are putting in. Make sure your financial professional is legitimate by checking out the organizations that issue credentials.

Source: Forbes October 28, 2017 15:22 UTC