$100 billion retirement risk: SEC issues new warning about IRA fraud and cryptocurrencies

October 4, 2018

NAELA  News :

  • As more individuals, especially baby boomers, move to self-directed individual retirement accounts to help them build a better nest egg, they could be putting themselves at risk for fraud.
  • These unregistered IRAs, which now represent a $100 billion market, allow people to invest far outside core stock market and bond market holdings.
  • These secondary retirement funds often include real estate, private mortgages, precious metals and private company stock. But the increasing level of investment in cryptocurrencies, from bitcoin to tokens and initial coin offerings, led the SEC to issue a new warning this month about potential IRA fraud.

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