A new study from Carlson Law finds investment fraud has become the No. 1 costliest type of fraud in the U.S., with a record $3.82 billion stolen in 2022, up from $1.6 billion the previous year.
The investment fraud law firm released its first annual study on the State of Investment Fraud in 2023 after analyzing data from the FBI and the FTC released in 2023. Three metrics were analyzed in all 50 states and the District of Columbia, including the total number of victims and monetary losses, highest average losses per victim, and highest rates of investment fraud.
Wisconsin ranks No. 18 in average losses, with the average victim losing $123,688 per incident last year. In total, 198 victims lost a total of $24.4 million. Wisconsin has the No. 44 highest rate of investment fraud with 3.3 complaints filed per 100,000 residents.
The unprecedented rise is due to crypto-investment scams, which stole a record $2.57 billion last year.
The trend is leaving many Americans financially devastated; seniors lost nearly $1 billion last year, forcing many to sell their homes, and even some multimillion-dollar professional athletes — including those in the NFL, NBA, MLB, and NHL — were left bankrupt after losing $585 million from 2004–2018.
