IRVINE : New Law Expected to Help Combat Fraud
A new weapon to combat fraudulent telephone-sales and investment schemes may be coming to the city.
The City Council tonight is expected to pass a law requiring anyone who wants to operate an investment or telephone-sales company in Irvine to fill out an extra page of information about their business and themselves to receive a business license.
“The form will give us more information on these companies, and it will make them jump through the hoops, so to speak, so we can determine if they are legitimate,” Police Sgt. David Freedland said.
The form requires applicants to divulge whether they are registered with various state and federal agencies regulating investment companies, whether the owner of the business has been convicted of fraud-related offenses and whether the business operates out of a post-office box or postal center.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
