There are plenty of fraudsters in our backyard, so think twice and remember: If an investment seems too good to be true, it probably is.
. Gunn was passing around documents showing that he had a purchase agreement for a bar called J Durham. He needed partners to put in $75,000 in return for half the company, according to the commission’s order.
While under supervision in April 2020, Gunn was charged with selling alcohol in Lubbock without a license, a case that remains pending. If you run into him, and he mentions something about a music festival, keep walking, Iles advises. “Investment scammers prey on trust. They often falsely tout integrity, promote safety and promise security to obtain and misuse the hard-earned money of our fellow Texans,” Iles said.
Thousands of cryptocurrency investments offer extraordinary returns utilizing computer code no one else has. But they are often Ponzi schemes that rely on money from new investors to pay early investors hoping to cash out. The Texas State Securities Board has issued many cease-and-desist orders related to crypto schemes.
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