Next time you hear about an investment from a friend or even a church group, be extra cautious.
"We thought 'Wow, what an opportunity to get in on the ground floor with this company," said Becky Gilbert.
The company she heard about from a friend was GNXperts, which developed new products.
Gilbert and her husband were very interested in one specific product - an additive that allows plastic or paint to glow in the dark. The Gilberts worked in the trucking business and thought the investment was solid.
"It didn't seem ordinary glow in the dark. It lasts a long time, it was put into anything from car paint, to paint for the roads, the striping for the road," Gilbert said.
The couple bought two shares for $50,000. A few months later, they got a call from postal inspectors. They were among 50 victims with losses totaling $4 million.
"We run a business, college educated people, how could this happen to us," Gilbert questioned.
Inspectors say the product was real, but the company was only interested in making money. The Gilberts never got any of their money back and feel betrayed.
"The anger I felt to have been stolen from, if you've ever been stolen from and just have something you've worked so hard be taken from you," she said.
Inspectors say be skeptical of investment opportunities you hear about through friends of social groups. Always do your own research of any investment or stock purchase.
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Tuesday, April 20 2010 11:21 PM EDT2010-04-21 03:21:00 GMT
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