Consumer Alert: Michigan investors may be victims of fraud
OFIS has received information from the North American Securities Administrators Association indicates that more than 20 consumers in Michigan have invested, by Malory Investments, LLC and Guardian Capital, Inc. (now reorganized as precision Capital Services, Inc.) two to operate from of California. The two companies may have sold more than 240 fraudulent offers federal securities worth more than $ 1 billion.
In particular concern for investors in Michigan, it is known as Lifeline imaging Los Gatos, Lifeline images of Long Beach, Lifeline Imaging Unit Investment Partnership, or imaging Lifeline Systems, Inc.
The information obtained by OFIS indicates that the Alabama Securities Commission and stop draining the fight against Malory and Capital Guardian, in July 2007 for the employment of non-registered representatives of commerce, but not to disclose commissions, revenue potential overstating fraudulent investments that could not be Disclosure of criminal circles of Man, not the specific disclosure of the use of proceeds, property of the issuer and other vital information.
“After the Alabama Securities Commission, these companies are of the opinion that in a long-term scheme to deceive investors and has been designated for these activities are no longer”, said Commissioner Watters. “We now have reason to believe they can offer to sell or their agents, fraudulent securities Michigan residents, and we want to alert public opinion.”
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