Attorney General Andy Beshear announced that his office managed to shut down a fraudulent telemarketing operation from Glasgow, Kentucky. The telemarketing operation was operating across Texas, Kentucky and Tennessee. Consumers were promised money recovery from lost investment frauds for a non-refundable “research fee.”
The owners of the Kentucky Corporation (Vickery Enterprises and Vickery-Young & Associates) got a multi-state judgment at Warren Circuit Court. They were forced to terminate when their fraud company targeted over 200 consumers in 40 states. All of the consumers were on the Do Not Call Registry.
The owners agreed to pay restitution and investigative fees to their fraud victims, mostly in Texas, Kentucky, and Tennessee. They were targeting out of state consumers.
These scammers were convincing their consumers they were going to receive a research report to their investment losses. Besides the report, they promised a legal analysis.
In the end, the company’s research reports contained mostly boilerplate descriptions of securities law. They offered barely any amount of individual info and did not provide their clients with court case information for consumer recourse.
Unfortunately, there are victims of this scam in the state of Texas as well as other states. But, the scammers were shut down on time, before they managed to increase the number of their victims.
There were 225 targeted consumers within the period between 2017 and 2018. It is important for people to know that ID scammers are everywhere; these people may be calling from another country or state, but they use “spoof” local telephone numbers so they could easily confuse possible victims.