VT's Securities Division Warns About Katrina-Related Investment Scams
In the wake of Hurricane Katrina, the Vermont Securities Division is warning investors to beware of opportunistic financial scams.
According to deputy Vermont securities commissioner Tanya Durkee, as
reported in the Barre Montpelier Times Argus, investors and others should exercise caution if approached about such "red flag" opportunities as:
investment pools or bonds to help hurricane victims, supposed water-removal or purification technologies, and electricity-generating devices.
Here are some ways the Securities Division advises investors on avoiding potential scams:
- Hang up on aggressive cold callers promoting hurricane-related or oil-and-gas investments, and ignore unsolicited email or Internet messages discussing small companies with
new hurricane-related technologies or products.
- Request written information that fully explains any investment.
- Use common sense. "Pie-in-the-sky" promises often signal investment fraud.
- Contact the Securities Division (828-3420 or toll-free 877-550-3907) to check that both the seller and the investment product you encounter are licensed and registered.
For further information, see
the complete article in the Sept. 8 Barre Montpelier Times Argus.
© 2008, Vermont State Employees Credit Union. All Rights Reserved.
