Hershey Rosen – Fraudster & Scammer Fined $510,000

Hershey Rosen is a Canadian businessman, who was fined $510,000 after facing over two dozen charges. The charges included 11 counts of acting illegally as an investment representative. 

With the decision, Canadian financial regulator (AMF) has finally reached conclusions on its case against the financial criminal. 

hershey rosen

(Source)

More Details on the Case Against Hershey Rosen:

Initially, AMF was seeking $810,000 in fines along with a jail term. Media reports of that time reveal that several investors who had invested with Hershey Rosen knew the guy through family connections. 

They trusted his claims and expected to get 24% returns on their investments. 

Later, they complained to AMF about how their payment checks had bounced and stopped arriving. This prompted the financial regulator to begin investigating the criminal. 

Canada has recently seen the rise of several financial criminals who think they are above the law. 

Conclusion

Financial fraudsters like Hershey Rosen tend to focus on promising high returns, which entice many gullible consumers into investing with them. Another example is Pat Mazza, a fraudster who used to send emails to consumers asking for investment. He used to promise a lot of returns to consumers as well. 

Pat Mazza was arrested by Toronto Police just a while ago. 

It seems to me Hershey Rosen was following a similar tactic but instead of contacting unknown consumers, he was using his family connections. If the initial fine was of $810,000, you can guess how much he must have stolen from innocent victims.

Beware of such frauds. Never trust an individual or firm claiming to offer you returns that sound too good to be true. 

2.5Expert Score
Fraud

Hershey Rosen is a fraudster and a criminal. He faced over two dozen charges before being fined for $510,000. The man used his family connections to get victims for his dubious investment scheme where he offered returns as high as 24% per year. Beware of this scammer.

Trust
2.4
Experience
2.7
Professionalism
2.5
Ethics
2.4
Pros
  • None
Cons
  • Convicted criminal
  • Fined $510,000
  • Fraudster
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