Texas Attorney General Greg Abbott has posted a detailed warning to Texas investors about the dangers of financial fraudsters.
According to the posting, The Office of the Attorney General works with the Texas Department of Insurance the Texas State Securities Board to help protect investors from fraud and deception in the financial services industry.
The State Securities Board is the primary securities regulator and investigates when Texans complain about the sale of securities, notes, limited partnership interests, commercial paper, oil & gas investments and investment contracts.
Potential “red flags” are:
- Guaranteed results– there is always risk and no legitimate investment adviser will guarantee positive results
- Agents in a hurry– high pressure sales and demands for secrecy are reasons to take heed.
- Unsolicited phone calls, emails and mailing-Abbott suggests Texans should be skeptical of unsolicited offers from unknown companies
- Phony companies promising big oil profits– If considering this type of investment Abbott suggests checking the promoter out with the State Securities Board and the Texas Railroad Commission.
Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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