SEC’s Case Against Oil and Gas Fraudster Shows How Scamsters Operate

If the Wyoming investors looked only for previous violations in Wyoming, they’d have come up with nothing and assumed the LeBoeuf was clean.

In February 2010, Colorado authorities took enforcement action against Jay L. LeBoeuf for fraudulent sale of oil and gas investments.  LeBouef’s response to that action is typical of those who make their living from investment fraud.  Rather than stop selling the investments, LeBoeuf moved his operation into a hotel room in Wyoming, incorporated a new company in Wyoming, and kept right on defrauding people out of their hard earned nest eggs.  The SEC has put a stop to his wanderings for now.  According to the SEC’s press release: (more…)

Where You’d Least Expect It

The scam artists offer these trusted advisers an attractive commission on each sale. With dollar signs in their eyes, these trusted advisers cannot possibly objectively evaluate the investments they have agreed to sell.

Where does the greatest threat to your life savings come from?  You might think it’s from a professional scam artist.  Because you (mistakenly) believe that characters like that are few and far between and because you (mistakenly) believe that your instincts would lead you away from anything offered by such a character, you believe that your nest egg is safe.  With all due respect, you could not be more wrong.  Oftentimes, the biggest threat is so close to you that you do not perceive it.  A case out of Wyoming helps make the point. (more…)

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