SEC Warns About Advance Fee Funds Targeting Deaf Investors

The SEC’s Office of Investor Education and Advocacy issued an Updated Investor Alert to alert investors about “Imperia Invest IBC” and similarly-named companies that have a track record of targeting deaf investors to invest in “advance fee fraud” schemes. Advance fee fraud gets its name from the fact that an investor is asked to pay a fee up front -- in advance of receiving any proceeds, money, stock or warrants -- in order for the deal to go through. The bogus fee may be described as a “processing fee”, a commission, regulatory fee or tax, or some other incidental expense. Sometimes, advance fee frauds brazenly target investors who have already lost money in investment schemes.