State Watchdogs
There’s an addendum to the article regarding the deceptions of the Wellington Group and Morris English (Metro, 9). I, too, was one of the victims of what appeared to be a safe investment, but I don’t condemn myself as “greedy,” for I was simply trying to get a good return on my hard-earned $32,000.
In the process of attempting to make a safe investment, I watched the company for six months before investing in October, 1990, and went one step further, checking with several state agencies, including the Department of Corporations. On Aug. 31, 1990, according to my phone bill, I telephoned the secretary of state, the attorney general and the Department of Corporations to see if any “red flags” went up in connection with the Wellington Group.
None did, in spite of the fact that bankruptcy had been filed and the Department of Corporations had already initiated an investigation and suit. Why didn’t they, the watchdogs for the public, tell me?
CHERYL C. PRESTON
Valley Village
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