finance and investment scams. - Warwickshire Web
finance and investment scams. - Warwickshire Web: "An investment scam that Hollywood made a film about is being targeted at Warwickshire consumers and businesses. In the film �Boiler Room� a company uses hard sell tactics to persuade investors to buy shares in worthless companies. Now firms based overseas are targeting Warwickshire investors using the same high-pressure sales tactics..
Financial Services Authority
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Trading Standards Officers have received reports of companies said to be based in abroad, offering shares in American companies. Householders and businesses have been cold called and told of an opportunity that could net them �60,000 for a �3000 investment, once the shares are floated.
But Trading Standards Officers warn: don�t be tempted by the promise of huge returns � the shares you receive could be worthless are and whilst you lose out, those selling the shares will make hefty profits from the commission you will pay.
Remember � if an investment opportunity seems to good to be true it usually is!
In the UK companies offering to sell shares have to apply for a licence and abide by rules designed to protect consumers � or they are shut down. BUT WATCH OUT! These rules are not identical abroad.
If you already buy shares you could be targeted as your name will appear in the share registers of the companies you have invested in. If you are targeted you may at first be offered a free research report into a company in which you hold shares, or a free gift or a discount on share dealing charges. "
Financial Services Authority
More help and advice
Useful links
Trading Standards Officers have received reports of companies said to be based in abroad, offering shares in American companies. Householders and businesses have been cold called and told of an opportunity that could net them �60,000 for a �3000 investment, once the shares are floated.
But Trading Standards Officers warn: don�t be tempted by the promise of huge returns � the shares you receive could be worthless are and whilst you lose out, those selling the shares will make hefty profits from the commission you will pay.
Remember � if an investment opportunity seems to good to be true it usually is!
In the UK companies offering to sell shares have to apply for a licence and abide by rules designed to protect consumers � or they are shut down. BUT WATCH OUT! These rules are not identical abroad.
If you already buy shares you could be targeted as your name will appear in the share registers of the companies you have invested in. If you are targeted you may at first be offered a free research report into a company in which you hold shares, or a free gift or a discount on share dealing charges. "
posted by Adrian Eyre at 9:52 PM
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