All, I was wondering what the consequences are if you invest in an "accredited investor" only investment but are not an "accredited investor". Right now I have some money saved in the bank and I came upon an interesting investment. It is low risk and low profit but the only requirement is that I need to be an accredited investor. It seems to me that the SEC only created this category to make sure poor folks didn't waste all their money on risky investments. But seeing that I am rather young and can make the money I could possible lose in a couple years, I don't feel like I am gambling my life away. Aside of the possibility of losing my money, is there any other legal or tax consequences I would face? The investment firm said there is no way for them to check my "Accredited Investor" status and I could claim that I own $1 million in foreign assets. Thanks.