Warning of Consob against the risks related to the alleged offers of legal assistance delivered to unaware investors who suffered a previous financial fraud. These same investors are frequently addressed with proposals of credit recovery initiatives, against the advanced payment of a fee, because of the losses due to previous financial fraud.

This is the core of the Warning published today by Consob, the supervisory authority for the Italian financial product market, on its website.

This alleged credit recovery activity is often led by people acting in connection with companies whose brands often recall the names of well-known financial institutions. Their target is to further mislead the investors who have already been victims of financial fraud. In addition, the logo of Consob is often and improperly used by these unauthorized subjects in their attempt to be endorsed as qualified operators having a legal authorization.

On the basis of evidence from Consob supervisory activity, the advocates of these illegal initiatives often seem as having a deep acquaintance with the victims of financial scams by abusive intermediaries and therefore the offers of assistance appear, in many cases, linked to the same subjects who have performed the previous fraud.

Consob is warning investors that all these activities might shape a criminal behavior, aiming at perpetrating a double fraud.