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Indiana Securities Division

Securities Division > News Archive  > New Tools to Protect Indiana Investors New Tools to Protect Indiana Investors

       Reported by: David Shepherd
       Thursday, Sep 24, 2009 @08:28pm

Secretary Rokita on WTWO in Terre Haute discussing the Indiana Investment Watch campaign

Each year, Americans lose billions of dollars to investment scams. Now, Hoosiers have a way to protect their information and their money. Indiana’s Secretary of State, Todd Rokita, says, "They say on paper you made "X" percent every month when really that investment simply went into their pocket." Investment scams are on the rise during the recession and you may be shocked to learn who may be trying to steal from you. "Before we were worried about strangers coming up to us and selling us investment products, now, it's being done by those that we know," warns Rokita. With new scams popping up every day, Rokita’s office launched a public information campaign to protect Hoosiers and their investments. The purpose is to, "Get to Hoosiers, help them, educate them before they're wrongfully separated from their money," according to Rokita. Rokita says the website, is a resource all Hoosiers should look at before investing. "Always check up on the person that's offering you a certain opportunity and you want to check up on the opportunity itself." Rokita says the program is paid for with money from fines, not the tax payers themselves. "There's absolutely no tax payer dollars. That's one of the reasons I like the program. We don't have to use the tax base to educate Hoosiers on how to invest properly." Rokita says they are making strides in the fight against con artists, but people are still loosing a lot of money. Some are loosing everything they own. "These are folks who've worked hard all their lives, usually have a nest egg. Some may have not saved like they should have and are a little desperate so they con artist plays on that." If an investment seems to good to be true, it may just be. Utilizing the state's website can offer investors piece of mind and more importantly, a secure investment.