Securities Video Transcript
Thursday, February 21, 2008
Missouri Investor Protection Center:
Video Transcript
As Secretary of State, it’s my job to help protect Missourians from fraud. We do that by trying to help educate investors about scams that are out there and how they can protect themselves and their savings. But unfortunately every week, our office gets calls from Missourians, especially seniors, who’ve lost money because they’ve been taken advantage of.
I just recently heard from a lady in St. Louis. Her name was Dolores and she told me about how she and her husband used a stockbroker. They had two different accounts with that broker and they trusted him and they never had any problems. No problems until her husband passed away and left the accounts to Dolores to watch over. But the stockbroker took the front seat and told Dolores to take the back seat. He did trades that didn’t help her and did help him. Our office caught on to this scam and after investigating, there have been charges taken against the broker and Dolores got $12,500 of her money back.
Our office is committed to tracking down and cracking down on those scam artists. But what I’d really like is for that problem never to happen in the first place. And we can do that by helping educate you about what you can do to protect you life savings. To better protect investors, we’ve created the Missouri Investor Protection Center to give you the resources you need before you trust others with your hard-earned money.
The Missouri Investor Protection Center website features press releases, multi-media public service announcements; even a savings calculator and it answers commonly asked questions about protecting your money. You can also check out your broker to make sure they’re licensed and registered to give investment advice.
I hope you’ll take a look at our website and use it as a tool before you make those important investment decisions. Just a few minutes of research could save you a life time worth of money. Thank you very much and I hope that if you have any other questions, you’ll contact my office.
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Toll-free Investor Protection Hotline: 800-721-7996
Report complaints or make inquiries