State Treasurer’s office showcases national documentary on investment fraud

first_imgThe Vermont State Treasurer’s Office is hosting screenings of a new national documentary, “Tricks of the Trade: Outsmarting Investment Fraud” at several theaters across the state. Vermont is the first state in the nation to screen the hour-long documentary. All screenings are free and open to the public. The documentary is scheduled to play on October 8 in St. Johnsbury at the Star Theatre; October 15 in Rutland at the Plaza Movieplex 9; and October 20 at the Savoy Theatre in Montpelier. The documentary also will be shown on October 27 at the Zampieri State Office Building in Burlington. All showings are at 11:30 a.m.        “It’s estimated that Americans lost trillions of dollars in retirement savings through the downturn in the stock market,” said State Treasurer Jeb Spaulding. “Unfortunately, such losses make people more vulnerable to investment scams. I’m pleased my office could sponsor showings of this new documentary to help build awareness among Vermonters of how to avoid falling victim to investment fraud.”        The documentary was produced by the FINRA Investor Education Foundation. FINRA, the Financial Industry Regulatory Authority, is the largest independent securities regulator in the country. The FINRA Foundation is underwriting the screenings of the documentary. Through stories of investment fraud victims and criminals convicted of fraud, the documentary shows how people can take steps to avoid becoming a victim.        “Working with the movie theatre schedules, we picked the 11:30 a.m. showing to make it possible for people to watch the movie on their lunch break,” said Spaulding. “We hope that those people who can’t attend will visit our web site for a link to additional information on avoiding investment fraud.”        The Treasurer’s Office web site is located at www.VermontTreasurer.gov(link is external).          FINRA foundation-funded research unveiled in July 2006 shattered the stereotype of an investment fraud victim as being financially uninformed, isolated and gullible. The prime target for investment fraud scam artists is an individual who:Is self-reliant when it comes to making decisions;Is optimistic;Has above-average financial knowledge;Has above-average income;Is college-educated;Has experienced a recent health or financial setback; and isOpen to listening to new ideas or sales pitches.        The movie screening is part of the Treasurer’s Office outreach efforts in support of national Save for Retirement Week. A retirement specialist from the Treasurer’s Office will be available to answer questions from members of the State of Vermont pension plans for teachers, State, and municipal employees. Free retirement planning materials and fraud prevention information also will be available. A State securities investigator from the Vermont Department of Banking, Insurance, Securities and Health Care Administration will be present to answer questions about specific fraud concerns.        FINRA Foundation; the State Treasurer’s Office; the Vermont Department of Banking, Insurance, Securities and Health Care Administration; and AARP have launched a statewide campaign to make Vermonters more aware of the growing threat of investment fraud. The FINRA Foundation maintains a web site on investment fraud at www.SaveAndInvest.org(link is external). The FINRA Foundation is underwriting the do        Questions related to the movie events may be directed to the Treasurer’s Office at 1-800-642-3191.Source: Treasurer’s Office. 10.6.2009last_img

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