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The Boston Globe

Business

Alternative investments are drawing scrutiny

NEW YORK — Regulators across the country are confronting a wave of investor fraud that is saddling retirement savers with steep losses on complex products that until a few years ago were pitched only to the most sophisticated investors.

The victims are among the millions of Americans whose mutual funds and stock portfolios plummeted following the financial crisis, and who started searching for ways to make better returns than the minuscule interest rates being offered by bank deposits and government bonds.

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