Weekend Biz Alert: Don’t Fall for This Social Media Investment Scam

Entrepreneurs, Beware: Social Media Scams on the Rise!

Fraudsters are targeting entrepreneurs through social media with sophisticated scams designed to manipulate investment decisions. One common tactic is the "pump-and-dump" scheme, where scammers create a buying frenzy around certain stocks using false or misleading information. This artificially inflates the stock’s price. Once it peaks, they cash out—leaving unsuspecting victims with plummeting shares and serious financial losses.

?? How This Scam Works: Scammers often pose as well-known business figures, industry experts, or financial professionals to build credibility. They use social media platforms, messaging apps like WhatsApp and Telegram, or even direct texts and calls to lure entrepreneurs into private investment groups. Once inside, members are pressured to invest in specific stocks at set times—driving up prices before the fraudsters dump their shares for profit.

?? Protect Yourself with These Red Flags: ?? Too-Good-To-Be-True Offers – If someone promises big returns on stock investments through private groups, it’s a scam. Legitimate opportunities don’t require secrecy. ?? Step-by-Step Stock Purchases – If a stranger guides you on exactly what to buy and how much to invest, steer clear. Never take financial advice from someone you don’t personally know and trust. ?? Manipulative Coaching – Some fraudsters script responses for victims to avoid detection. If someone is instructing you on what to say or do, it’s a major red flag.

Your financial security is crucial—stay informed and protect yourself from these evolving scams!