Affinity Fraud Takes Advantage of Trust
Affinity fraud includes investment frauds that prey upon members of identifiable groups, such as religious or ethnic communities, the elderly, or professional groups. The investment advisors or perpetrators who promote affinity scams frequently are members of the group. They often enlist respected community or religious leaders from within the group to spread the word about the scheme, by convincing those people that an investment is legitimate and worthwhile. Too often, we see this type of fraud in LDS church settings.
Affinity fraud exploits the trust and friendship that exist in groups of people who have something in common. Because of the tight-knit structure of many groups, it can be difficult for regulators or law enforcement officials to detect an affinity scam. Victims often fail to notify authorities or pursue their legal remedies, and instead try to work things out within the group. This is particularly true where the fraudsters have used respected community or religious leaders to convince others to join the investment.
The investment advisors that prey upon victims don’t necessarily always see themselves as fraudsters, but the activities they engage in and recommendations they make after they gain your trust and your money, often lead to violations of the law that cause the victim to lose money.
Highly Experienced Affinity Fraud Lawyer
Our firm has represented countless victims of affinity fraud, particularly those affiliated with religious organizations. Once you contact us and we learn all the facts, and analyze your investments, if you lost money and we believe you are a victim of affinity fraud, we will tell you and explain your legal rights.
When you hire us, we will pursue your claims with the utmost diligence and determination, and we won’t be satisfied until we help you recover your losses. Heiner Law Offices understands affinity fraud and you can count on our knowledge, experience, and skill, to hold your investment advisor and his firm accountable for your losses.
Contact Us for a Free Consultation
Contact our office today to discuss your case. We offer a free initial consultation. You can reach us by phone at 801-366-5200 or via email. We try to take every case on a contingency basis which means we don’t collect a legal fee unless we successfully make a financial recovery for you.