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FTC briefing targets...
also some of the areas where our laws could be more protected,” Coe explained, noting victims have just 10 days to report unauthorized withdrawals from banks, during which time banks are required to investigate or be liable for losses.
Investment scams, particularly those involving crypto currencies, have ballooned in recent years.
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Maeve Elise Brown is the Executive Director of Housing and Economic Right Advocates (HERA) based on Oakland. She recalled a friend whose losses totaled in the six figures, and who lost even more after an agency approached him claiming to be able to retrieve his money. Brown believes both instances involved the same entity.
Vindicating the rights of victims “Don’t be afraid to make a fool of yourself,” said Brown, echoing Chiu and the other speakers about the importance of coming forward. “We’re both sad and happy to learn about new scams. Sad that people are being scammed, and happy for having learned about it.”
Iwasaki eventually did come forward, sharing his story with the organization Asian Pacific Islander Legal Outreach, which has brought his case to litigation. Iwasaki says he’s now preparing to go to court and is hopeful that he will see some – if not all – of his money returned.
“Don’t feel this is your fault,” stressed Chiu. “Part of why we’re here today is to say, no it’s not your fault. You are a victim of a fraud. You need to have your rights vindicated. And if you need justice done, we are the agencies that are looking to do that justice.”
He added, “So we encourage you to reach out to us.” (Peter Schurmann/Ethnic Media Services) n
