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To: Ron Flanigan who wrote (100)3/29/1998 9:20:00 AM
From: micny  Read Replies (2) | Respond to of 545
 
Washington(AP) March 28,1998
because we all favor an educated public

"State securities regulators have identified the top 10 frauds perpetrated on average investors these days, including the high pressure peddling of risky stocks, and Internet scams.

The list was released yesterday by the North American Securities Administrators Association, in conjunction with the start of a joint government-business campaign to educate investors."

"America is facing a true financial literacy crisis, and what investors do not kow can hurt them," said NASSA President Denise Voight Crawford, who is also securities commissioner of Texas.

Led by the Securities and Exchange Commission, federal agencies, securities industry groups and consumner organizations are promoting a savings and investing campaign.

The weeklong campaign, which begins Sunday, will include a town meeting to be broadcast nationwide April 4. Other programs are also planned in the campaign.

Among NASAA's list of the top 10 areas of fraud:
Internet Fraud:
Scams using the internet that include stock-price manipulation, illegal pyramid schemes and acting as a broker or investment adviser."