INVESTMENT SCAMs

How to Avoid Being Scammed

  1. Protect yourself. Be suspicious of any deal that promises a fantastic return with little risk.
  2. Know whom you are dealing with. Check the company’s reputation with your local Better Business Bureau, or state Attorney General’s Office.
  3. Take your time. Don’t be pressured into making a quick, hasty decision. It’s your money.

Scheme Information

Investment Scams

Josh Abernathy

Josh Abernathy, owner of Omega Investment Group, guaranteed investors a 10-15 percent return on their money.


Church Congregation Victimized by Scam Artist

He was a well known member of his church and held investment seminars. A total of 14 victims lost $1.3 Million in this Ponzi scheme.


Exotic Vacations taken by Scam Artist

Abernathy used the funds of the victims as his own personal piggy bank by paying his ever increasing debts and to take exotic vacations.


Investment scams come with all kinds of promises of high returns on your investment. And they promise NO RISK! Most of these scams are variations of the traditional Ponzi scheme. In a Ponzi scheme, new victim/investors are needed to invest money to keep the scam going. Money from new investors pays the "high rate" on the victim's investment. But in reality, there is no investment. The money is going into the scammer's pocket.

Don't be pressured into making a quick, hasty decision on investing your money before you check out the company. Even if a friend or family member recommends it, check it out on your own. With any investment there is an element of risk. And if the investment promises a high rate of return when the banks are paying a very low rate, you might want to ask yourself: "How can they do that?" There's only one thing you can count on in these investment schemes: The money you invest will be money lost. You may not even receive the promised interest-and if you do, it’s usually paid late.