
HSBC – Dear Customer
Financial crime evolves, and HSBC wants to help keep you safe.
We recently ran across an ad for OilBoomUSA.com, oil-investment company Nakoma Petroleum’s website.
Nakoma’s site and videos seem to be designed to lure in the kind of consumer who has the minimum investment of $80,000 lying around and is excited by things like “your own oil well,” “America,” and “tax advantages” — especially tax advantages. According to the financial professionals page of the site, “these oil and gas Joint Ventures are the only true tax shelter left for wealthy investors.”
And while oil wells, America, and tax advantages may all be very well and good, investors should check out the SEC’s consumer guide to oil and gas scams before deciding. Says the guide: “While some oil and gas investment opportunities are legitimate many oil and gas ventures are frauds.”
The guide offers these red flags as well:
And for what it’s worth, Brian Gilroy also has several other business names listed at the same location.
Financial crime evolves, and HSBC wants to help keep you safe.
Be wary of this supplement’s FDA claims.
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