The Ohio Channel

August 23, 2011

08-23-2011

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Ohio Department of Commerce

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David Goodman, Director of the Ohio Department of Commerce, and Andrea Seidt, Commissioner, Ohio Division of Securities, make an announcement from the Riffe Center for Government and the Arts about scams during a time of stock market volatility. The purpose of this announcement is to alert Ohioans on the most prevalent types of investment fraud being perpetrated against investors and to provide tips on how Ohioans can protect themselves and their families for the future.

Markers Transcript

00:02:47	#5: Distressed Real Estate Scemes ¿ Targets investments in properties that are bank-owned and/or in foreclosure.
00:03:23	#4: Promissory Notes ¿ Give investors a false sense of security with promises or guarantees.
00:03:56	#3: Affinity Fraud ¿ Occurs when an investment promoter takes advantage of people¿s trust.
00:04:43	#2: Unlicensed and Unregistered Sales ¿ Occurs when investment products are offered by agents with no security license.
00:05:27	#1: Ponzi Schemes ¿ Promise high returns to investors and use money to pay earlier investors.

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Note : Transcripts are compiled from uncorrected captions