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If it looks too good to be true....

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Contributed by: Nicole Drahnak on 7/11/2007

District Attorney Scott Storey warns consumers to be wary as they consider investments opportunities boasting large returns. With uncertainty in the economy and more and more people approaching retirement age, it's normal to wonder if your investment savings will be sufficient. Unfortunately, this eagerness to increase earnings can open the door to investment fraud by slick swindlers. It could be someone simply making cold calls, either by telephone or email, or more often a long-term family friend or advisor.

Investment fraud is insidious. Often the perpetrator is not the stranger making cold calls, but someone well known to the victim. Perhaps the perpetrator is someone that has handled the victim's funds for a long period of time.

Storey offers the following advice for anyone considering making an investment decision:

-Don't give in to high pressure sales tactics or an insistence on an immediate decision;

-Beware of a 'guaranteed investment,' one with 'no risk,' or an offer of unbelievable returns on invested funds;

-Don't heed the warning that you may miss out on a limited offer if you take the time to check with family or other trusted advisors;

-Avoid any investments where you cannot receive written information about the registration of the security or the license of the broker.

Prevention Steps:

-Just 'Hang Up!' on investment telemarketers. Sign up for the Colorado 'No Call' list at www.coloradonocall.com or 303-776-2678 to stop these calls;

-Never make a hurried decision or one that you have not fully investigated. Always have a trusted friend or family member review your decision and make sure you read the fine print;

-Find out if an investment offer is registered and if the broker is licensed by calling the Colorado Division of Securities at 303-894-2320;

-Carefully review your financial statements regularly and look for any activity that you did not personally authorize;

Remember the advice, "If it's too good to be true, IT PROBABLY IS!" This has been sound wisdom for a long time.

For Assistance Call:
District Attorney's Fraud Line 303-271-6980
email: casefraudline@jeffco.us

CASE is a Partnership of the District Attorney and the
Community to Prevent Financial Exploitation

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CONTRIBUTOR INFORMATION

Nicole Drahnak

Parker , CO

Nicole Drahnak has posted 67 stories and 0 comments since joining on 5/15/2007. Nicole Drahnak 's average story rating is 5.

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