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.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next

 


It was really fun seeing you fight for us. You have an amazing way of thinking out of the box.


 

Beth M.

LATEST NEWS AND ARTICLES

May 30, 2025
Former LPL Advisor Sanctioned by FINRA Over Undisclosed Real Estate Venture

FINRA has fined a former LPL Financial advisor and suspended him for three months after allegations surfaced that he operated a real estate development business without his firm’s approval.

May 29, 2025
FINRA Sanctions Former Broker for Undisclosed Private Equity and Securities Activities

FINRA has sanctioned former registered representative Thomas A. Rapp for engaging in undisclosed outside business and private securities transactions while associated with M Holdings. The enforcement action stems from a Letter of Acceptance, Waiver and Consent (AWC) Rapp submitted under FINRA Rule 9216, resolving the matter without ad...

May 28, 2025
SEC Charges Three Texas Residents in $91 Million Ponzi Scheme

The Securities and Exchange Commission (“SEC”) has filed charges against Kenneth W. Alexander II, Robert D. Welsh, and Caedrynn E. Conner, all Dallas-Fort Worth residents, for orchestrating a Ponzi scheme that raised at least $91 million from over 200 investors.