We're all too familiar with the doctrine of "caveat emptor", or buyer beware, which places all responsibility for a bad deal on the shoulders of the consumer. Caveat venditor reverses that responsibility, placing all responsibility upon the seller. With financial products and services, both are true, as the case below shows. A quick check with http://brokercheck.finra.org/ would have saved these investors a lot of hassle and heartache. They would have discovered that these thieves were not registered to advise about nor sell investments. And the perpetrators, or sellers, should have been mindful of not only enforcement actions but also their clients' best interests.
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