Story Archive for 12/31/2007
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More On Investment Fraud
Published on December 31, 2007 at 01:48PM
(Salt Lake City) Continuing with the list of most common scams to watch for in the coming year, the Securities Division ranked phony Homeland Security projects as number two. Promoters tell potential investors that they are buying into “secret” project to protect the country, and either refuse to show information about the project or provide false information.
Coming in as number three are hedge funds run by unregistered or unqualified advisors. Hedge funds often rely on risky speculative strategies. Many of those investing in such funds cannot afford to lose the money. The state is currently investigating a locally managed hedge fund that was sending money to the Mediterranean island of Malta where the money would simply disappear.
Construction worker identified
Published on December 31, 2007 at 11:14AM
(RICHFIELD) – The construction worker who collapsed and died while working at the Cedar Ridge High School in Richfield has been identified as 24-year old, Joseph Barlow of Orem. Last Thursday at about 2:45pm, the Richfield Fire Department was called to the scene to hoist Barlow’s body from the roof where he had been working. The Richfield Police Department assisted and said that the body was sent to the Utah State Medical Examiner’s office and have not received a report as to the cause of death.
Public help needed in Delta robbery
Published on December 31, 2007 at 10:20AM
(DELTA) – The Millard County Sheriff’s Office is asking the public for help with a burglary in Delta. At about 5pm on Thursday, deputies responded to a home at 955 West 4500 South where a roll of red carpeting was ripped from the floor and four sheets of white FRP board used as a wall covering in bathrooms were taken. According to a sheriff’s report, witnesses said they saw a vehicle at the residence at about 6:00 the same morning but were not able to identify the vehicle. No suspects have been apprehended in the burglary. If you have any information, call the Millard County Sheriff’s Office.
Investment Fraud Warning
Published on December 31, 2007 at 09:09AM
(Salt Lake City) The Utah Division of Securities has released a list of the top ten investment scams to look out for in the coming year. At the top of the list is real estate notes. According to the Securities Division, this past year a number of Utah residents were taken in by promises of huge profits involving real estate investments. Investors were told that their money would be secured by real estate, but they later found out that they were never listed as lien holders. Others were told that their money would be invested in raw land that would be sold at a higher price to developers. Often those investing in these scams were encouraged to take out second mortgages on their own homes to raise money to invest.