Gold Investment Scam Alert Reported

Attorney General Andy Beshear issued a scam alert on Thursday, April 26, 2018, after two Kentuckians reported losing nearly $900,000 this year to scammers promising access to gold markets and millions in investment returns. A Fayette County resident recently lost $420,000 to a con artist on Facebook who said “investing” in a foreign gold market would quickly generate millions of dollars. And Inez resident also “invested” $475,000 with a con artist who guaranteed gold. The two reported victims in Kentucky were senior citizens. The Federal Trade Commission suggests combating these scam practices by consulting with a reputable dealer, financial adviser and independent appraiser with specialized knowledge before making an investment and to research the seller online.

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