Kiyosaki’s Lawyer Issues Cease-and-Desist Over Fake Tips
An attorney for Robert Kiyosaki sent a cease-and-desist after his name was used to post investment recommendations; Kiyosaki says he is not a financial advisor and will only disclose his own holdings.
On May 18, Robert Kiyosaki posted on X that his attorney had issued a cease-and-desist after someone used his name to present investment recommendations. The notice was sent to an unnamed individual or group, he wrote.
Kiyosaki said the posts created confusion among his followers and prompted the legal action. He apologized for the confusion and wrote he will be more careful with his wording going forward.
In his post, Kiyosaki emphasized he is not a financial advisor and that his public disclosures are statements of his own holdings, not recommendations to buy or sell. “I am not a financial advisor. Please be aware I will always share with you what I am investing in and why,” he wrote.
He listed his holdings in a follow-up post: “To be clear… I invest in gold, silver, ethereum, bitcoin, oil and cattle. I have done so for years.” Kiyosaki also noted he does not use a 401(k) or IRA and does not invest in publicly traded stocks or bonds.
Kiyosaki is the author of Rich Dad Poor Dad. He has for years publicly predicted major market crashes, a possible depression, and financial strain for many Americans, particularly baby boomers.
The cease-and-desist seeks to prevent further posts that present trades or strategies as coming from Kiyosaki. He wrote he will continue to disclose what he owns and explain his reasons, and he urged followers to make their own decisions or consult their financial advisers.
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