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Attorney General Warns Marylanders to be on the Lookout for Investment Scams in the Wake of Hurricane Florence

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.

One Response to “Attorney General Warns Marylanders to be on the Lookout for Investment Scams in the Wake of Hurricane Florence”

  1. September 19, 2018 at 2:57 am, Josh Throne said:

    I know a lot of people will be needing help with clean up and potential damage. The CEO of Kerwin Tree Service in Leonardtown, Bill Kerwin; is my client. He wanted to me to reach out to you and let you know that he would be happy to speak about the effects of the storm and how the people can better prepare themselves and their homes for storms like this in the future.
    Kerwin Tree and Crane is a Certified Disabled Veteran business and Bill is passionate about safety.

    Let me know if there is anything you could get his take on.

    Reply

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