Minister warns investors about investment newsletter

George Sweeney, Minister of Government Services and Lands, would like to warn investors about a potential investment scam involving unsolicited investment newsletters that people may receive via fax or e-mail.

"There are numerous newsletters out there, some are legitimate and some are not. Investors have to realize that the information they contain is often biased and may be being distributed as part of an investment scam," said Minister Sweeney.

This potential scam is thoroughly explained in a new investor alert posting on the Securities Commission website at www.gov.nl.ca/scon/. If you have received any of these types of unsolicited newsletters, please call the Commission at 729-4189.

"Investors need to be aware that there are numerous investment scams out there and that people should do some in-depth research before they invest their hard earned money," stated the minister. "Extra caution should be taken when an investment sounds too good to be true.

"Through the Securities Commission, the Department of Government Services and Lands has a role in helping the people of this province become more financially aware and to inform them about potential investment scams."

For more investor information and tips on how to better protect yourself against investment fraud and scams, visit the Securities Commission of Newfoundland and Labrador website at www.gov.nl.ca/scon/ or contact the Commission at 729-4189.

Media contact: Jeff Mackey, Communications, (709) 729-4860.

2003 06 17                                          9:40 a.m.