Top Ten Ways to Avoid Losing Money in a Financial Scam – Tip #4: Get it in Writing

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crop businessman signing contract in office

This week, I am addressing another important aspect of protecting yourself from fraud: document all financial transactions in writing. The unfortunate reality is that people sometimes invest hundreds of thousands of dollars without getting anything in writing – usually because they trust the person they’re giving their money to. When people call me to talk… Read more »

RQN Press release: Mark Pugsley Obtains Significant Client Reward for Vivint Smart Home Whistleblower

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Ray Quinney & Nebeker attorney Mark Pugsley recently represented the Declarant in a whistleblower case filed with the US Department of Justice against Vivint Smart Home Inc. (Vivint) under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA). On January 6, 2021 the Justice Department announced that Vivint had agreed to pay the United States… Read more »

Don’t Mix Insurance and Investing

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NOTE:  This article is adapted from an article that was written by my friend Jim Dahle, MD and posted on his very popular website The White Coat Investor. This article is re-posted here with his permission.  Because his website is geared toward doctors and other medical professionals I have modified the article somewhat to be… Read more »

Top Ten Ways to Avoid Losing Money in a Financial Scam – Tip #3

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crop businessman signing contract in office

Last time we discussed the importance of doing your homework when making investment decisions. This week, I am addressing another important aspect of protecting yourself from fraud: hiring a legal expert to help you evaluate the potential opportunity. Tip #3 — Hire an Attorney Before You Hand Over the Money While the idea of hiring… Read more »

Top Ten Ways to Avoid Losing Money in a Financial Scam – Tip #2

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Last time we discussed the importance of slowing down and taking your time when making investment decisions. This week, I am addressing another important aspect of protecting yourself from fraud: doing your homework before handing over your hard-earned money. Tip #2 — Do Your Homework Many scammers rely on the fact that potential victims will… Read more »

Top Ten Ways to Avoid Losing Money in a Financial Scam – Tip #1

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Investment fraud is a big issue here in Utah, largely due to our close-knit social and religious communities, which can be prime targets for “affinity fraud.”  “Affinity fraud” is a scam that is perpetrated by someone you trust. Scammers use relationships to build trust and legitimacy for their “pitch.” Those relationships can be with family… Read more »

Utah’s Little-Used Whistleblower Law Needs an Update

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Utah is one of only two states in the United States that has a whistleblower act (Indiana is the other). Utah’s statute was written and passed by a young ambitious politician named Ben McAdams in 2011. Ben asked me to assist with the drafting and to provide testimony in support, which I gladly did. We… Read more »

How to Blow the Whistle on Bank Fraud

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The Federal Government offers potentially significant rewards to whistleblowers who provide information to the government that helps protect financial institutions by “deterring would-be criminals from including financial institutions in their schemes.” United States v. Serpico, 320 F.3d 691, 694-95 (7th Cir. 2003). The Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) and the Financial Institutions… Read more »