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Taking a Closer Look at Oil Spill Investment Scams

The Securities and Exchange Commission last month warned oil spill victims who have received money under the Gulf Coast Claims Facility to beware of investment

Jul 31, 2020194.1K Shares3M Views
The Securities and Exchange Commission last month warned oil spill victimswho have received money under the Gulf Coast Claims Facility to beware of investment scams.
The SEC warned:
[S]cam artists may target payout recipients with oil spill-related investment opportunities that promise high returns with little or no risk, or involve secretive or complex strategies. Members of religious or ethnic communities, professional organizations or other close-knit affinity groups could be likely targets for these scams because of the high level of trust that often exists within these groups and their tendency to share information with one another.
I called up the SEC late last week to see if they had identified any scams, and a spokesman told me he could not comment on whether there are any ongoing investigations into the issue. So I thought I’d turn to you, my readers.
If you have been the victim of an oil-spill-related scam or if you think you’ve been targeted by a scam artist, I’d like to hear your story. Email me: arestuccia@washingtonindependent.com.
Rhyley Carney

Rhyley Carney

Reviewer
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