california department of business oversight

The Attorney General and the Commissioner encourage anyone who has either been the victim of an investment scam or who otherwise has information about an investment scam to immediately file a report through or. “In times of crisis, bad actors often prey upon investors who are especially concerned about their finances,” said Commissioner Alvarez. “California investors should be particularly careful and wary of investments related to the coronavirus.” Before you relinquish your hard-earned money, fully investigate the companies and people involved.

“Fraudsters may try to take advantage of the current pandemic by claiming miracle cures or solutions to medical equipment shortages,” said Attorney General Becerra. “Investors should beware of any investment claiming to address the COVID-19 crisis. Investors should be wary of claims that companies have developed cures or vaccines for coronavirus or can supply medical equipment which is in short supply, like masks, gloves, or ventilators. These are red flags that an investment could be a scam. For example, the FBI recently arrested an individual for soliciting investments and claiming to have a cure for coronavirus. Investors should carefully research companies and claims, as well as broker-dealers and investment advisors, before investing any money. Alvarez today issued an alert about investment scams related to the coronavirus (COVID-19).

SACRAMENTO – California Attorney General Xavier Becerra and California Commissioner of Business Oversight Manuel P.

California department of business oversight