United States:
SEC OIEA Cautions Investors On Investment Scams Related To Hurricane Ida
15 September 2021
Cadwalader, Wickersham & Taft LLP
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The SEC Office of Investor Education and Advocacy
("OIEA") cautioned investors, specifically those
who receive lump sum insurance payouts, on potential investment
scams related to Hurricane Ida.
The OIEA explained that natural disasters can trigger investment
scams including (i) promoters that, through email and social media
reports, tout recovery and cleanup companies, (ii) trading programs
that falsely promise high returns and (iii) Ponzi schemes. The OIEA
recommended that investors treat any such offers with skepticism
and do thorough research in order to protect themselves.
Primary Sources
- SEC OIEA Investor Alert: Be on the Lookout for
Investment Scams Related to Hurricane Ida
The content of this article is intended to provide a general
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