Transcript

[on-screen text] Actor portrayal of actual fraud

>> Narrator: 00:02 Let me tell you how I became the victim of fraud in the last way I ever expected

[music playing]

>> Narrator: 00:08 It started when my friend, Joe, who I’ve known for years and who is also deaf, passed along some investing tips he received from someone in our deaf meetup group on a social networking app

>> Narrator: 00:29 This guy looked legitimate. He even had the snazzy headshot profile and a sharp website

>> Narrator: 00:38 And his investment opportunity seemed like a sure thing

>> Narrator: 00:41 But as you probably guessed, we couldn’t have been more wrong

>> Narrator: 00:47 This guy took off and our money is long gone

>> Narrator: 00:52 Joe should have known. I should have known

>> Narrator: 00:56 If it’s too good to be true, it probably is

>> Narrator: 01:04 This guy posed as one of us, took advantage of our community and our willingness to want to help one another

>> Narrator: 01:13 It was all part of his plan

>> Narrator: 01:20 It’s called affinity fraud—I looked it up

>> Narrator: 01:25 And it happens in tight-knit communities, where trust is important

>> Narrator: 01:33 We should have done our research...but Joe thought this guy was honest...and I trusted my friend

>> Narrator: 01:43 Now our savings and the plans we had for them are wiped out >> Narrator: 01:49 And I never saw it coming
[on-screen text] for more information go to www.investor.gov

Are you part of the Deaf or hearing loss communities? Learn how to protect your community from fraudsters that may target investment scams at close knit groups. For more information, please visit Investor.gov's Affinity Fraud page.The SEC Enforcement Division’s Retail Strategy Task Force also encourages you to report suspicious investment scams.

Video Transcript