Experts Warn of Investment Scams
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Interesting story about the free lunch ploy.
"It was a common ploy, financial experts say -- a smooth-talker in a suit, preying on seniors, holding "free lunch" seminars and promising fail-safe investment opportunities.
And in these times of economic turmoil, when many may be worried about how they'll survive retirement, investors looking for a sure bet can find themselves at risk.
"That's the time that we're all most vulnerable for scams and frauds," said Joyce DeMonnin, director of public outreach for AARP Oregon, at a recent seminar in Roseburg on safe investing.
The seminar was held in partnership with the state Department of Consumer and Business Services.
Experts at the seminar provided tips on how to avoid potential scams and also information on what government agencies to contact to see if proposed investment opportunities are legitimate.
From Internet frauds and pyramid schemes to chances to invest in newfangled or bogus inventions and the potentially confusing world of securities, there are plenty of traps set for unwary investors.
"People who promise high returns at lower (or no) risk should not be trusted," said seminar speaker Steve Buchholz, an attorney with the enforcement division of the federal Securities and Exchange Commission."
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