Fraudulent Advisor Law and Legal Definition

Fraudulent advisors refer to a person or an organization that purposely take advantage of an entrepreneur or micro-enterprise owner with no experience. There are two types of fraudulent advisors. First type includes people or organizations who consider only about their interest and not the entrepreneur’s best interest. Scam artists belong to the second type.

People or organizations concerned about their own best interest can be easily identified since they want other people to purchase from them first. Examples of this category include, but are not limited, to people or organizations that charge fees for free information, charge up front fees for advice, sell unnecessary services.

Scam artists, on the other hand, are people or organizations that offer undeliverable products or services or services that do not work. Examples of scam artists include, but are not limited to instant success, quick wealth schemes, and guaranteed success such as internet traffic, fund raising and sales.