Investor's Watchdog.com: Stock, finance and investment protection for investors

How many of you have considered buying a few shares of Exxon to cushion the blow of the outrageous price at the pump?  Like the rest of us, scam artists know that oil companies are making money hand over fist.  What better way to take the nest eggs of hard working baby boomers, then, than to tell them that they can be Jed Clampett? 

The SEC has shut down an alleged securities fraud that follows that model.  Read more about it here.

Remember that financial criminals follow the headlines and use them to construct the sales pitch that will cost you what you’ve worked so hard to save.  If a broker or promoter can repeat back to you something that you know to be true, his credibility rises and your sales resistance lowers.  Keep that trend in mind next time he offers you a “can’t lose” investment in an oil well.