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Web Sweeps Uncover 1,600 Sites With Get Rich Quick Scams
150 agencies from 28 countries, including from the United States, the FTC, SEC and US postal inspectors, recently conducted a sweep of websites for possible consumer fraud and abuse.
The sweep netted 1,600 sites. These sites will receive reprimand letters initially. Further action will occur if the sites continue to market the scams.
In previous sweeps, the success rate for closing down these types of websites has ranged from 20% to 70%, but continually has improved.
Source: Bureau of National Affairs, March 8, 2000
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Sponsored by James J. Eccleston, an attorney representing stockbrokers, financial planners and
investors nationwide in arbitration, litigation and regulatory matters, and a shareholder with the law firm
Shaheen, Novoselsky, Staat, Filipowski & Eccleston
P.C.(www.snsfe-law.com). This Web site contains material
of general interest. It is neither intended to, nor constitutes, either legal advice or investment advice.
Always consult an attorney and/or investment advisor when building and protecting your wealth.
All content Copyright © 2008 Advocate Capital Management, Inc. except where noted. All rights reserved.
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Telephone: 312-621-4400 | Fax: 312-621-0268
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