White: Investigate before investing

November 3, 2009 4:11:02 PM PST
On Tuesday, Illinois Secretary of State Jesse White urged residents to investigate companies before investing money with them.He said investors should check with the Secretary of State's Securities Department in order to avoid scams.

Most reported scams involve dealers or brokers who are not licensed, White said. He said his office can verify whether a dealer or broker is registered with the state. So far this year the securities department has received complaints involving a total of more than $200 million.

A new public service announcement has been produced to get the word out.