MIWAUKEE — When people lose money to an investment scam, many assume reporting it won't make a difference. The Better Business Bureau says that's not always true.
Lisa Schiller of the Better Business Bureau said reporting is critical.
"You have to turn around and take time to file a complaint. You have to report it," Schiller said.
Watch the video report below:
Schiller said one complaint can help identify patterns, connect potential victims and provide information that may help investigators. That is especially important with investment scams, where victims may not immediately realize others are reporting similar experiences.
A recent Milwaukee case illustrates the point. One of the earliest complaints against businessman Joseph Nantomah — who marketed himself online as "The Black Mentor" — was filed with the BBB in 2023. It involved a significant investment loss and promises of returns that never materialized. The BBB referred the complaint to state regulators, and more complaints followed, long before federal charges were filed.
Nantomah was recently sentenced to four years in federal prison after pleading guilty to fraud charges. Prosecutors identified 39 victims with losses topping $2.7 million. Nantomah admitted to taking money from investors who believed they were funding real estate deals, then using some of that money for personal expenses and to pay earlier investors.
A federal judge ordered Nantomah to pay $2.7 million in restitution to victims and included a three-year probation term. The judge also noted Nantomah will likely be deported to Nigeria after completing his prison sentence.
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