I took my friend’s advice to invest my $180K nest egg in a foreign savings firm. All my money is gone. What can I do?

Core Insights - Investment scams in the U.S. are increasing, with a reported 25% rise in losses from 2023 to 2024, totaling $5.7 billion lost by consumers last year [1] Group 1: Scam Mechanisms - Investment scams lure victims by promising high returns on unique opportunities that are often presented as exclusive [4][6] - Scammers utilize various tactics, including advertisements, free events, and financial advice, to capture attention and build trust [6] - The actual investments can range from cryptocurrencies to real estate, with scammers often showcasing fabricated success stories to entice further investment [7] Group 2: Case Study - A specific case illustrates the risk: Michael, a 46-year-old warehouse supervisor, lost nearly $180,000 after being convinced by a friend to invest in a foreign firm promising double-digit returns [2][3] - The firm later faced liquidity issues and collapsed, revealing that it had engaged in high-risk, unregulated investments [3] Group 3: Regulatory Response - The FTC is actively monitoring evolving scam tactics and is committed to protecting consumers from fraud [5]