The Oklahoma Department of Securities, unfortunately, understands that there are instances where Oklahomans may find themselves misled or deceived in questionable investment schemes. If you suspect you have been a victim of fraudulent or misleading investment practices, it is crucial to take immediate action. Here are your next steps:
Check Out Your Investment Professional: If you work with an investment adviser or broker/dealer, ensure they are properly registered with the U.S. Securities and Exchange Commission (SEC) and have the necessary licenses to offer investment services. You can verify their credentials through the SEC's Investment Adviser Public Disclosure (IAPD) database or the Financial Industry Regulatory Authority (FINRA) Broker-Check. You should also verify that your investment professional is appropriately registered under Oklahoma’s securities laws by contacting the Oklahoma Department of Securities at (405) 280.7700.
Stop Additional Investments: If you suspect an investment opportunity is questionable or fraudulent, refrain from making any additional investments or sending more money to the entity in question. Pausing further financial commitments is a crucial step to limit potential losses.
Report to Authorities: If you believe you have fallen victim to a fraudulent investment scheme or have been misled, report the issue to the Oklahoma Department of Securities and the SEC. Submit a complaint to the Oklahoma Department of Securities online to our Complaint Form or the SEC's online Complaint Center.
Gather Documentation: Collect all relevant documents related to your investment, including agreements, contracts, emails, account statements, and any communication with the party involved. These documents may be crucial for future investigations or legal actions.
Remember that you are not alone in facing the challenges of being misled in a questionable investment. The Oklahoma Department of Securities is committed to investigating and prosecuting fraudulent activities in the financial markets. Your vigilance and reporting can also help prevent others from falling victim to similar schemes in the future.