In this type of rip-off, victims fall prey to swindlers who claim that their shared membership in a group make them especially worthy of trust. With the numbers of new immigrants at levels not seen since early this century, many new arrivals to this country are seen by financial swindlers as ripe for the picking. Once a victim realizes that he or she has been scammed, too often the response is not to notify the authorities, but instead to try to solve problems within the group.
Most financial professionals are honest.
But minority group swindlers play the loyalty angle for all its worth. Don't forget to do your homework before investing any money. Who Claim Loyalty to Your Group. Beware of testimonials from other group members. Scam artists frequently pay out high returns to early investors using money from later arrivals.