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Posted: Thu 6:37 AM, Jan 31, 2008
Reporter: The Associated Press

Ohio Officials Say Conditions Ripe For Investment Scams

(AP) -- A challenging economy and volatility in the stock market may be creating a bull market for investment scams.

State Commerce Department director Kimberly Zurz says whenever markets are up or down, con artists prey on the investing public. She's warning Ohioans to be wary of anyone claiming to offer quick ways to make up for recent losses in retirement accounts or other investments.

Zurz advises to be on guard against high-pressure pitches for unregistered securities and nontraditional places to put your money, such as foreign currencies or oil and gas investments.

State officials say it's best to hang up on aggressive cold callers and to delete spam e-mails for investment opportunities.

(Copyright 2008 by The Associated Press. All rights reserved.)

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