WCBC

September 18th, 2018 by WCBC Radio

In the wake of widespread damage caused by Hurricane Florence, Maryland Attorney General Brian E. Frosh and Securities Commissioner Melanie Senter Lubin today cautioned investors to watch out for opportunistic investment or charitable scams.

 

“While news stemming from Hurricane Florence has rightfully focused on the tireless efforts of emergency officials and neighbors helping neighbors, we know from experience that financial predators are lurking like snakes in the water to seek profit from the misfortune of others,” said Attorney General Frosh. 

 

“Natural disasters bring out the best and worst in people,” said Maryland Securities Commissioner Lubin. “Unsolicited investment offers seeking to capitalize on the aftermath of Hurricane Florence should be approached with extreme caution.”

 

Investors are reminded to watch for red flags of hurricane-related scams, including unsolicited email, social media messages, crowdfunding pitches or telephone calls promoting investment pools or bonds to help storm victims, water-removal or purification technologies, electricity-generating devices and distressed real estate remediation programs. Scam artists may linger long after the storm has passed to prey on victims who anticipate receiving large lump-sum insurance settlements for damaged property and other losses.

 

Marylanders should also be wary of fraudulent charitable solicitations that prey on the goodness of people seeking to help those in need.