Indiana Secretary of State Todd Rokita publishes top 10 list of investor scams Hoosiers should avoid
FOR IMMEDIATE RELEASE
Aug. 5, 2010
List highlights common investor traps and gives simple tools to protect against investment scams and deceptive professionals
INDIANAPOLIS – Indiana Secretary of State Todd Rokita today published a list of this year’s common fraudulent traps investors should avoid when seeking ways to jump start their portfolios or recoup earnings lost during the national recession. An example is the “Off the Books” scheme where a broker may offer its client an investment on the side instead of through his or her company. The complete list of 2010 investor traps is now available at http://www.indianainvestmentwatch.com/.
“As we begin to recover from this economic downturn, fraudsters are on the lookout for those wanting to quickly regain their financial position and will put individuals’ nest eggs in so-called guaranteed, high-yield investment options,” Secretary Rokita said. “Through Indiana Investment Watch, Hoosiers can learn about the top investor scams we’re seeing throughout the country and learn ways to protect themselves against these bogus deals.”
Compiled in cooperation with the North American Securities Administrators Association the oldest international investment organization dedicated to protecting investors from deceptive scams, the list contains the most prevalent investor traps seen this year.
Other schemes and traps to beware of include:
· Green schemes
· Oil & Gas schemes
· Gold and precious metals schemes
· Foreign exchange trading schemes
· Affinity fraud
· Undisclosed conflicts of interest
· Private or specials deals
· Unsolicited online pitches
For detailed information on each of the top 10 investor traps, visit http://www.indianainvestmentwatch.com/.
About Indiana Investment Watch
Indiana Secretary of State Todd Rokita created the Indiana Investment Watch program to increase financial literacy in Hoosiers and to educate them about various types of securities and mortgage loan broker fraud. The program is not funded by taxpayer dollars, but rather by the money collected from settlements in securities fraud cases.
For more information, please visit http://www.indianainvestmentwatch.com/. If you feel you have been the victim of investment fraud, please call the Secretary of State’s Securities Division at 1-800-223-8791.
Media Contact: Jim Gavin: (317) 233-8655 or firstname.lastname@example.org