“Con Man” TV ads just the latest effort by Granholm Administration to protect Michigan consumers’ pocket books

FOR IMMEDIATE RELEASE
February 2, 2010
Contact: Jason Moon 517-335-1700
http://twitter.com/miofir

LANSING – Governor Jennifer M. Granholm and the Office of Financial and Insurance Regulation (OFIR) announced today that a series of television ads have started to run, warning consumers of the risks of investment fraud and encouraging them to contact OFIR before they enter into an investment. The three “Con Man” ads are currently airing on cable networks across the state and focus on how con men attempt to scam investors at so-called free lunch seminars and try to prey upon members of the same group or affiliation.

The television ads are just the latest component to the Granholm Administration’s priority to protect the pocket books of Michigan consumers and help them avoid investment scams. OFIR’s multi-pronged protection effort includes its “Investor Education in Your Community” program that educates Michigan investors on how to avoid falling victim to investment fraud. The agency has also held a free investment scams training for local law enforcement and has started a “Free Lunch Seminar Monitor” program that gives individuals an opportunity to fight back against unscrupulous promoters by reporting questionable investment practices to OFIR. 

“We continue to do everything we can to protect citizens’ pocketbooks, particularly in these tough economic times,” Governor Jennifer M. Granholm said. “This new PSA campaign will create awareness and help Michigan citizens and their families avoid falling victim to fraud.”

“Don’t get conned by the con man,” OFIR Commissioner Ken Ross said. “Before you put one dime of your hard earned money into an investment, contact OFIR and we’ll run a check on any broker or advisor.”

To watch or download the TV ads, visit:

http://www.michigan.gov/documents/dleg/Con_Man_Trust_PSA_309214_7.wmv

http://www.michigan.gov/documents/dleg/ConMan_Free_Lunch_309217_7.wmv

http://www.michigan.gov/documents/dleg/ConMan_Combo_309223_7.wmv

If Michigan investors have any questions about an investment firm, professional or product, please contact OFIR toll-free at (877) 999-6442 or online at www.michigan.gov/ofir.

A grant from the Michigan Investor Protection Trust (IPT) was used to finance the ads. The IPT is funded entirely by state securities settlements and is used to educate Michigan consumers on investment issues and how to avoid financial scams. 

OFIR will be running similar radio ads in the near future.

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