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Epicenters of Investment Fraud Revealed in New Study

Posted on June 27th, 2023 at 1:15 PM
Epicenters of Investment Fraud Revealed in New Study

From the desk of Jim Eccleston at ÍøÆØ³Ô¹Ï

2022 witnessed a staggering surge in investment fraud, surpassing all other types of fraud in terms of monetary losses among Americans. The Federal Trade Commission reported a record-breaking $3.82 billion stolen through investment fraud, marking a significant 128% rise from the $1.67 billion reported in 2021. This alarming escalation can be attributed to a blend of conventional and contemporary strategies, with a significant portion of the increase stemming from scams associated with cryptocurrency, according to ÍøÆØ³Ô¹ÏalthManagement.com.

Here are the top 20 states ranked with the most investment fraud per 100,000 residents.

1. District of Columbia
- Victims per 100,000: 26.0
- Money Lost: $6,902,545
- Number of Victims: 185

2. Maryland
- Victims per 100,000: 17.5
- Money Lost: $98,530,071
- Number of Victims: 1,070

3. New York
- Victims per 100,000: 17.1
- Money Lost: $173,465,521
- Number of Victims: 1,451

4. Nevada
- Victims per 100,000: 13.7
- Money Lost: $40,890,567
- Number of Victims: 424

5. California
- Victims per 100,000: 12.6
- Money Lost: $869,614,022
- Number of Victims: 4,928

6. Hawaii
- Victims per 100,000: 11.1
- Money Lost: $18,885,255
- Number of Victims: 156

7. Florida
- Victims per 100,000: 10.3
- Money Lost: $306,494,132
- Number of Victims: 2,245

8. Washington
- Victims per 100,000: 9.2
- Money Lost: $97,504,830
- Number of Victims: 710

9. Alaska
- Victims per 100,000: 9.0
- Money Lost: $3,900,872
- Number of Victims: 69

10. Utah
- Victims per 100,000: 8.9
- Money Lost: $31,131,583
- Number of Victims: 295

11. Arizona
- Victims per 100,000: 8.8
- Money Lost: $88,886,631
- Number of Victims: 618

12. New Jersey
- Victims per 100,000: 8.8
- Money Lost: $110,174,613
- Number of Victims: 817

13. Wyoming
- Victims per 100,000: 8.3
- Money Lost: $7,750,670
- Number of Victims: 48

14. Colorado
- Victims per 100,000: 8.0
- Money Lost: $58,468,306
- Number of Victims: 475

15. Massachusetts
- Victims per 100,000: 7.7
- Money Lost: $75,553,436
- Number of Victims: 713

16. Texas
- Victims per 100,000: 7.3
- Money Lost: $235,128,489
- Number of Victims: 1,944

17. Oregon

- Victims per 100,000: 6.9

- Money Lost: $41,583,266
- Number of Victims: 288

18. Virginia
- Victims per 100,000: 6.7
- Money Lost: $54,774,505
- Number of Victims: 576

19. Delaware
- Victims per 100,000: 6.1
- Money Lost: $8,128,816
- Number of Victims: 61

20. Georgia
- Victims per 100,000: 5.8
- Money Lost: $68,450,880
- Number of Victims: 627

 

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

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