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Fisher Capital Management News: Record gold prices fuel increase in scams

17
AUG 2011
Fisher Capital Management News
http://www.wcsh6.com/news/article/168777/2/Record-gold-prices-fuel-increase-in-scams

Written by Tim Goff

SOUTH PORTLAND, Maine (NEWS CENTER) — With gold prices at an all time high, state regulators are warning investors to beware of scam artists.


“With a really bad economic downturn, with the recession, not only does it cause the average person to become fearful, but it also causes the scam artists to come out because they know that everybody is far more vulnerable than they were before,” stated Judith Shaw, administrator of the Maine Office of Securities.“Anytime somebody is telling you that they can give you a high rate of return with little or no risk to you, you really need to think twice about that,” she added.

In recent weeks her office has received several calls from residents concerned about transactions they have made buying and selling gold. She says many of the advertisements on the internet, radio and television make claims that are not backed-up by the companies actions.



“They send their money, there is a promise that the gold exists – maybe gold bullion – and that the seller who has reached out and made the contact will save that gold or silver in some safe location,” explained Shaw. “The danger is in many case...

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