I'm a Nonresident alien. I want to open an investing account with Vanguard. If I lied that I'm a US-Citizen

What would happen? Can they really check out? Does it matter? It seems I have to go to a lot of paper work. I just want to invest and get some benefit of mutual funds. Please advise...

I was told that it's okay, as long as the company get my money, they should be Okay...


6 Answers

  • Gem
    Lv 7
    1 decade ago
    Favorite Answer

    The Patriot Act stipulates that the birthplace of the investors must be verified, with Social Security or other such nonsense.

    If you lie, you will be risking that your entire investment is taken by the government under suspicion of "terrorist funding".

    I wouldn't risk my hard earned money that way.

  • 1 decade ago

    If i were you, I wouldn't lie. the government may find out sooner or later and you could get in big trouble for that. my advice to you, as an investor and a new U.S. citizen, is to be patient and just save your money for now. you can open a CD account which gives you a better yield than a savings account. try to become a citizen / have a green card and then, make your dreams come true. once you are ready to invest right, try scottrade. GL...

  • 1 decade ago

    It will be okay for the company to have your money but it won't be okay for you because you may not be able to get back the money you invested in because of a lie you've made - you're a non-US citizen. Speak with the company and seek their advice. There may be other options available for you to invest in.

  • Max
    Lv 6
    1 decade ago

    Be truthful about your citizenship. Things will probably turn out better for you that way.

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  • 1 decade ago

    Whoever lies commits a sin.

    Source(s): Bible
  • ?
    Lv 6
    1 decade ago

    Well don't lie and they will ask for your social security no,

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