KCUR News
9:21 am
Tue November 17, 2009

Missourians Warned Against Phone Calls Pitching Investments

Jefferson City, MO – The Missouri Secretary of State's office is warning the public to beware of phone calls pitching oil and gas investments.

The calls in question are unsolicited, with offers of high returns and very low financial risk. Abe Rakov is with the Secretary of State's office:

Rakov: "Because it's ongoing, I can't get too specific, but there have been multiple complaints it also has been happing in other states: Recently, Colorado filed a complaint alleging fraud in connection with the marketing of investments in oil and gas drilling operations."

Rakov says some of the promoters calling Missourians have had past run-ins with state and federal regulators. Anyone who gets such a call is being advised to ask lots of questions and contact authorities.