COLUMBUS, Ohio - The Ohio Department of Commerce issued a warning telling Ohioans to be aware of investment scams during this time of stock market volatility.
The Division of Securities mapped out a top five list of scams used by con artists which includes Ponzi schemes, unlicensed and unregistered sales, affinity fraud, promissory notes, and distressed real estate schemes.
"Con artists prey on people's fears by exploiting today's headlines with promises of 'guaranteed' returns at no risk. Don't be fearful. Be knowledgeable. There is no such thing as a no risk/high return investment," said Director of the Ohio Department of Commerce David Goodman.
Goodman is encouraging Ohioans to take their time before making a decision.
To learn if the promoter is licensed or if the security is registered call the Division of Securities at 1-877-NVEST411 (1-877-683-7841) or visit the website at www.ohio.gov/secu.
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