How do Broker-Dealers verify accreditation of investors?
Websites like SharesPost.com & SecondMarket.com verify accreditation by simply filling out a form and if what the investor fills out SEC laws (ie. net worth, income) then they're approved and can view the private securities.
Offline, what is the process? Does the investor sign a document stating they're accredited? Do the investors have to show income returns to the broker-dealer? Bank statements? What if the documents are forged? What is the absolute way broker dealers verify accreditation?