How to seek compensation after being misled into a bad deal

Being duped into putting huge sums into dubious investments is an all-too-common risk faced by the elderly and less savvy investors.

- Tan Ooi Boon

Thankfully, you have legal options to take those responsible for your losses to task since the promoters or sellers of such investments earn lucrative commissions from luring unsuspecting customers.

Of course, the owners of such schemes are liable for creating fraudulent products, but these crooks often vanish before action can be taken. So victims instead act against the promoters, especially those who are based here as they are more easily found.

These two important points can help you get your money back.

WHEN REPRESENTATION OF FACTS RESULTS IN LOSSES

You see an online advertisement that promises huge profits for an investment and you immediately rush to the vendor's office to sign up for the deal. If you end up losing money, it is hard to cry foul unless you can show that the whole deal is a scam.