Hello all,
How low some people can go?
The Delaware Attorney General’s Office (they prefer the Department of Justice these days) is warning businesses and residents to be wary of scams in the wake of catastrophic flooding from Florence that has now spread into South Carolina.
It was one of a few warnings that showed up in our In Box last week as the slow-motion disaster unfolded in North Carolina. Other warnings included shady contractors who tend to show up after disasters, do shoddy work or simply skip town after money is paid out.
Delaware has ties to the Carolinas as more than a few people have retired or taken jobs in fast-growing areas of the two states.
The Investor Protection Unit notes that hurricane-related scams, including unsolicited email, social media messages, crowdfunding pitches or telephone calls promoting investment pools or bonds to help storm victims, water-removal or purification technologies, electricity-generating devices and distressed real estate remediation programs are likely.
“Natural disasters bring out the best and worst in people. While news stemming from Hurricane Florence has rightfully focused on the tireless efforts of first responders and neighbors helping neighbors, we know from experience that financial predators will seek to profit from the misfortune of others,” stated Attorney General Matt Denn. “Unsolicited investment offers seeking to capitalize on the aftermath of Hurricane Florence should be approached with extreme caution.”
The state also cautions about fraudulent charitable solicitations that may come from fraudsters who may claim to represent a reputable organization but outline a sketchy way to send funds or may be part of a fraudulent charity.
Here are some tips from the unit:
- Delete unsolicited emails or social media messages and hang up on aggressive cold callers promoting hurricane-related investments, especially those from small companies touting unproven or new technologies or products.
- Use common sense. Claims of guaranteed returns or low/no investment risk are classic red flags. Every investment involves some degree of risk.
- Do your homework. Contact your state regulator to check that both the seller and investment are licensed and registered. If not, they may be operating illegally. Contact the Investor Protection Unit at (302) 577-8424, or by email.
Enjoy your day and check out the story links below. – Doug Rainey, publisher.
