Spring 2017 was another successful semester in the Investor Advocacy Clinic. Student interns Qudsia Shafiq, La’Nise Harrington, Majda Muhic, Hector Rojas, Geoff Hafer, and Robert Noens (pictured above) spent approximately 700 hours helping investors in more than 20 matters. They interviewed investors and evaluated potential claims, analyzed damages theories and account statements, negotiated, and developed deep relationships with their clients. They commented on FINRA rule proposals and drafted several dozen investor education pieces on this blog. We will miss our graduates La’Nise, Majda, Hector, and Geoff and wish them the best as they study for the bar and begin their legal careers. We look forward to welcoming back Qudsia and Robert for IAC II this upcoming fall.
By Geoff Hafer, Spring 2017 Student Intern
The SEC receives thousands of complaints every year describing a scam known as “advance fee fraud.” An investor will be asked to pay a fee up front before receiving any proceeds, money, stock or warrants. This up-front fee is often described as a deposit, underwriting fee, processing fee, administrative fee, commission, regulatory fee or tax, or sometimes an incidental expense that will be paid back later. Unfortunately, in cases of advance fee fraud, once they have your money you can bet you will never hear from them again.