Beware of Financial Fraud

Financial fraud is rampant today. Besides high profile cases like Bernard Madoff or Allen Stanford investors are being defrauded out of their hard-earned money at an alarming rate. Sadly even two former presidents of The National Association of Personal Financial Advisors, the country’s largest organization of fee-only financial advisers, have been implicated in fraud cases over the past few years. (Full disclosure, I have been a registered NAPFA adviser since 2003.) CNBC even has a regular show called American Greed that “showcases” financial fraudsters in each hour-long episode. There seems to be no shortage of subjects to profile for new episodes. More in US News and World Report here.

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