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: Spotting Scams  ( 2708 )
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« : September 03, 2005, 03:25:43 PM »
Spotting Scams

Montpelier, Vermont - September 2, 2005

A warning tonight to beware of phony fundraising efforts and other scams that tend to arise around disasters. The human misery caused by Katrina has people across the country ready to open their wallets to help underwrite relief efforts. Those include opportunities to invest in companies handling reconstruction efforts-- developing water purification and energy efficiency technology.

Vermont's investment watchdogs are warning that bogus high-pressure scams of all sorts will soon be coming your way by phone, e-mail and website. The same way they did after September 11th.

"The people who perpetrate these types of issues-- these types of crimes-- know how the systems work and they will work the systems so that you think you are safe and secure and it turns out they've got you anyway and so you need to be really, really cautious," says John Cronin of the Vt. Securities Division.

Cronin says you can call his office toll free to confirm the validity of investment offers. That number is 1-888-550-3907.

Tim Lewis - Channel 3 News
Henry Raymond
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