Oregon fines Florida woman for $1 million investment scheme
The Oregon Department of Consumer and Business Services Division of Financial Regulation said Thursday it’s issued a cease-and-desist order against a Florida woman and her company for violating Oregon securities law as part of a nationwide investment fraud scam.
The division fined Judith Jackson and her company — Becker, Jackson and Reed (BJR) — $60,000 for illegally selling shares of stock in a company called Alpine Family Entertainment Parks.
The agency said the scheme used high-pressure sales to obtain more than $1 million from victims across the U.S., including $150,000 from one Oregon resident. Victims were pressured into purchasing shares of stock in Alpine Family Entertainment Parks for the development of a new amusement park in San Diego. There were no plans to develop an amusement park.
The investigation revealed that 80 percent of investors’ funds were routed to bank accounts in Mexico while the remaining funds were used to maintain the investment scam. Oregonians should beware that Jackson and BJR may still be soliciting investments.
“Do your homework before making investment decisions, no matter how urgent the opportunity seems,” said Jean Straight, acting DCBS director. “One of your first steps should be checking the license of any company offering investments to Oregon residents.”
The division encourages residents to check the license (http://dfr.oregon.gov/gethelp/Pages/check-license.aspx) and recognize the signs of investment fraud:
High rate of return, especially better than similar investments
Guarantee that investment will not fail
Pressure to invest immediately
Your best defense to avoid an investment scam is to ask a lot questions and contact the Division of Financial Regulation at dfr.oregon.gov or call 866-814-9710 (toll-free in Oregon) for more information.
To view the cease-and-desist order: http://dfr.oregon.gov/AdminOrders/enf-orders-2017/20171129-alpinebjr-s-17-0135.pdf
The Division of Financial Regulation is part of the Department of Consumer and Business Services, Oregon’s largest business regulatory and consumer protection agency. Visit www.dcbs.oregon.gov and www.insurance.oregon.gov.
