S.C. Attorney General’s Office warns of COVID-19 investment scams

COLUMBIA, S.C. (WIS) - The Securities Division of the South Carolina Attorney General’s Office is warning investors to be wary of an increase in fraudulent investment schemes.

Officials said they are expecting a rise in investment scams because of the COVID-19 pandemic.

“Scammers will be targeting investors, capitalizing on recent developments in the economy and preying on concerns about the regulated securities market,” said South Carolina Attorney General Alan Wilson. “Investors must remain vigilant to protect themselves.”

More specifically, the Securities Division is warning investors to watch for investments that are tied to the threat of COVID-19. Some of these schemes may claim to raise money for companies making surgical masks and gowns, ventilators, and other medical equipment. The schemes may also involve claim to raise money for distributing small-molecule and other preventative drugs as well as making vaccines or miracle cures.

Investors should contact the Securities Division of the South Carolina Attorney General’s Office with questions about any investment opportunity or the person who offered the investment opportunity before investing in the product.

To do so, call 803-734-9916 or visit this link.