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Secretary of State Jesse
White is reminding investors in Illinois to beware of con artists seeking to
capitalize on fear and uncertainty related to the current COVID-19 pandemic and
its impact on financial markets.
“We know con artists use
current events to set up schemes that seem legitimate and promising,” said
White. “Scammers may claim that their investment opportunities involve
companies that have solutions or cures for COVID-19 and are guaranteed to turn
a profit. But remember, if it sounds too good to be true, it probably is.”
White warns that investors
should be skeptical of no-risk guarantees and promises of profitable
alternatives to the stock market. White
reminds investors to always check to make sure that the salesperson or investment
adviser they are dealing with is registered as required by federal law.
“If you have concerns about
your retirement accounts or investments, talk to your financial professional
and avoid making decisions based on panic or fear,” White said.
To help investors identify common telltale signs of possible investment
fraud, be sure to ask yourself the following:
To check whether the salesperson or investment adviser you are dealing with is registered or to file a complaint if you believe you were the victim of an investment fraud, visit the Secretary of State’s website at www.AvoidTheScam.net.
***Report Courtesy of the Illinois Secretary of State Jesse White***