When you do the investment deal, you have to certify that you are an accredited investor (e.g. you'll get a SAFE and an "Accredited Investor Questionnaire" or similar document). They won't require proof beyond that (e.g. bank account statements, W-2), but if you lied about it you'll likely have zero recourse if shit hits the fan (which is the only time you would need it). I would also say that most of the time the parties involved know each other trust each other enough to where in practice this shouldn't be a big deal (if you have questions about the money or if someone shouldn't be able to do this, don't take their money).
It's the same logic used when cashiers ask you what your age is when purchasing alcohol: if you give them a fake ID and they accept it, that's on them, but if they ask you and you lie, that's on you.
It's the same logic used when cashiers ask you what your age is when purchasing alcohol: if you give them a fake ID and they accept it, that's on them, but if they ask you and you lie, that's on you.