Moneymaking Scams Targeted: State and federal trade...
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Moneymaking Scams Targeted: State and federal trade and justice officials this week announced a nationwide crackdown on fraudulent moneymaking scams and advised consumers not to be gullible.
Maryland Atty. Gen. Joseph Curran said a consumer’s best protection is to be wary, adding, “If it looks to good to be true, it almost inevitably is not true.”
In the last two weeks, Operation Telesweep has targeted about 100 firms across the country, which now face legal action.
“We have often brought cases after victims lose their money and they complain to us. We thought we needed a more effective approach,” Federal Trade Commission Chairman Robert Pitofsky said.
The effort focuses on swindlers who advertise opportunities to make fabulous profits with small investments. Many of the frauds involve buying vending machines or pay phones that turn out to be faulty.
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