Investor Protection News—June 2010
Don’t Get Cleaned Out by False Cleanup Claims
The oil spill in the Gulf of Mexico poses more than an environmental and economic threat to the region. It also poses a financial threat to investors in the form of scams promising financial gains from investments in companies that claim to be involved in cleanup operations.
While some of the companies touting their role in the cleanup may be legitimate, others could be bogus operations that are only looking to clean out unsuspecting investors.
Some companies may issue press releases, or send unsolicited faxes or spam emails that might include:
- Claims to have products or technologies that are effective in remediating oil spills or restoring the eco-system.
- Mention of contracts or expected contracts with BP to aid the cleanup effort.
- Claims that the company provides technical assistance or expertise to BP or U.S. government agencies.
- Predictions of rapid, exponential sales growth.
- Pressure to invest immediately.
See our tips on how to avoid these and similar scams.
Upcoming Events
July 21 – Money $marts
9:00am – 2:00pm
St. Martin’s College – Worthington Center
5300 Pacific Avenue SE
Lacey, WA 98503
Register online for Money Smarts Lacey, or call toll-free 1-877-926-8300
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