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  The Society for Consumer Advocates and Mavens

News You Can Use!

CROOKED WALL STREET STOCKBROKERS

If any stockbroker calls you on the phone that you do not know or if one calls that you did not request a call from you may want to stay clear of doing business with them. These so-called stockbrokers may not even be selling actual Blue Chip stocks they say they are selling or they may be selling stocks that are of questionable value and practically worthless! Giving your hard earned money to stockbrokers you do not know no matter which brokerage firm they say they may work for or giving money to stockbrokers who work for so-called brokerage firms you have never heard of, either way it may be too risky to even consider!

Organized crime has moved into the stockmarket and nowadays you cannot be too careful who you deal with when purchasing stocks. Many investors have lost their life savings dealing with stockbrokers who may be involved in organized crime! It may be wise to stick to reputable brokerage firms and just hope you do not get stuck with a "rogue" stockbroker here who possesses a checkered employment history jumping from firm to firm.

SUPPLEMENTAL SOURCE: ABC-TV 20/20 8/27/04

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