Overview
The Washington State Department of Financial Institutions (DFI), Securities Division has received a complaint from a Washington resident regarding an imposter scam impersonating Federated Global Investment Management Corporation (Federated Global).
Investor Complaints and Allegations
The investor received an ad on YouTube for an educational course on stock trading. The investor went to the website linked on the ad: https://perezagruzka.alexgerchik.com/en and provided their contact information. Shortly thereafter, an individual who was impersonating a Federated Global employee contacted the investor. After the investor paid the required entry fee, he was told that there were no educational services, but rather that Federated Global helped investors earn money by purchasing stocks. When the investor asked if Federated Global was accredited, the impersonator provided a link to the SEC filing for the real Federated Global, which made the investor feel secure. After that, the impersonators provided this website: https://fedcloverinv.com for “registration,” after which the investor got access to their trading platform: https://fciasolution.com/. The impersonator then told the investor if he increased his investment, he would get a guaranteed return of 8-10% per month. The investor invested all additional funds by depositing money into his Coinbase account and transferring it to the impersonators. Following several months of purported profits, the impersonator urged the investor to invest $41,000 in an IPO with promises of an immediate 15-20% return. Ten days after the investor transferred the money, the investor’s purported profits on the platform took a sharp decline. The impersonator then demanded an additional $50,000 to cover the losses and restore trading in his account. The Washington investor refused to deposit more funds.
The actual web address for Federated Global Investment Management Corporation is: https://www.federatedhermes.com/us/campaigns/site.do
Caution for Investors
DFI cautions consumers to beware of persons previously unknown to them offering investment advice, even if they purport to be legitimately licensed investment professionals. Scammers can impersonate investment professionals and offer advice that benefits scammers and is harmful to consumers.
To check the licensing status of an investment professional, please visit FINRA Brokercheck. After confirming that the investment professional is appropriately licensed, attempt to independently verify that you are indeed speaking with the real person. Try contacting the licensed individual using online resources such as Brokercheck or the firm website, rather than through the communication channels they provided to you directly. If you have any doubt about the authenticity of the person soliciting you, contact the Washington State Department of Financial Institutions, Securities Division at (360) 902-8760. If you live outside of Washington State, contact your state securities regulator.
If a consumer believes a person or company has violated state law or acted improperly regarding an investment product or service, they may file a complaint with the Securities Division.
Additional Resources
Information regarding imposter scams and how to protect yourself