Investor Alert: Beware of Oil and Gas Investment Fraud

The Director of the Alaska Division Banking and Securities would like Alaskans to be aware of Oil and Gas Investment Fraud schemes that are hitting the country. High oil and gasoline prices have created interest in energy investments, and con artists responded by developing schemes which supposedly let investors cash in on record profits in the energy industry. 

As with all investments, be cautious.  Always ask if the investment is filed with the Alaska Division of Banking and Securities or with the state securities office in the state in which the promoters are located.

Before you invest, check out the public alert on “Oil and Gas Investment Fraud” issued by the North American Securities Administrators Association (NASAA) which is an organization of State securities regulators from all 50 states. Go to NASAA's alert at: http://www.nasaa.org/Investor_Education/Investor_Alerts___Tips/6076.cfm.

If you have questions, please call the Division of Banking and Securities’ toll free hotline: 1-888-925-2521