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 Eccleston Law

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 WealthManagement.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

 

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

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