Tr?id=566623520170033&ev=PageView&noscript=1

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
Quotes Bigger

The work that you and your team have performed on my behalf is exemplary.

JT

LATEST NEWS AND ARTICLES

1782744905 Law
June 29, 2026
Former Arvest Wealth Representative Sanctioned by FINRA Over Improper Use of Mistaken Commission Payment

The Financial Industry Regulatory Authority (FINRA) has suspended former Arvest Wealth representative Brandon Still for 18 months and fined him $5,000 after determining that he improperly used firm funds that were mistakenly deposited into his account.

1782497406 Law
June 26, 2026
FINRA Seeks to Make Remote Inspection Program Permanent

The Financial Industry Regulatory Authority (FINRA) is seeking approval from the Securities and Exchange Commission (SEC) to make its pandemic-era remote inspections program permanent before the current pilot is scheduled to expire in June 2027, according to AdvisorHub and FINRA's summary of its recent Board of Governors meeting.

1782400213 Law
June 25, 2026
SEC Alleges Illinois Investment Adviser Misappropriated Investor Funds and Concealed Losses

According to a litigation release published on SEC.gov, the Securities and Exchange Commission (SEC) has charged John Sterling Myers and his firms, Sterling Capital, LLC and Sterling Capital Management, LLC, with orchestrating a multi-year fraud involving investor funds held in a pooled investment vehicle.