Gold Scams Rise with Prices
Source: AFP (8/25/11)
"The Financial Industry Regulatory Authority warns of private investment schemes that directly steal investors' money."
As gold prices sank for a second day from the record $1,913.50 an ounce, the Financial Industry Regulatory Authority said that investors were being caught out by both listed mining companies that overstate their gold reserves and private investment schemes that directly steal their money.
"Some of the stocks and opportunities being promoted have precious little value, and others are outright frauds," Finra said in a statement. . .View full article