Missouri Investors Warned of Common Threats
JEFFERSON CITY, Mo. (AP) - The Missouri secretary of state's office is warning investors to be alert to several common scams and threats to their money.
The Securities Division of the secretary of state's office has released its list of the top threats to Missouri investors in 2012. High on the list are online pitches from startup companies and promoters pushing new business ideas without financial statements, business plans and other traditional documents.
Other threats include questionable recommendations and unfulfilled promises from sales people who are not licensed in Missouri. Many pitches tout promised returns in gold, oil futures and other commodities.
The Securities Division says investors should ask for complete documentation explaining fees, costs and charges and a prospectus.