"Heritage Foundation Sponsors Stock Scam"
Last night, the conservative website Townhall.com sent a paid message to its reader entitled “How Often Does Life Offer You a Second Chance.” In it, a man named Mark Skousen promised huge returns from his can’t miss stock tip. Here’s Skousen’s pitch:
In the tech sector, bargains have just about disappeared. This stock is one of the few exceptions. I see it moving way higher. In fact, I expect it to double and split 2 for 1. This extraordinary stock should be in your portfolio right now. Everything you need to know is in a Special Report I’ve just written: “The Company that Will Change the World: The Next Explosive Tech Stock.”
The email directs people to http://cf.heritage.org/rd.cfm?id=599 for his “free” report. In other words, this scam is hosted directly by the Heritage Foundation. (No wonder Heritage is pushing so hard to funnel Social Security money into private investment accounts.)
The report, as you might have guessed, is not actually free. You can only get it if you subscribe to an expensive newsletter written by Skousen, presumably filled with more of these can’t miss stock tips. Skousen promises that if you are dissatisfied with the newsletter he’ll refund you money. No word if he’ll refund your money after you blow your savings based on one of his outrageous predictions.
The Security and Exchange Commission publication “Invest Wisely: Advice From Your Securities Industry Regulators” warns consumers to be alert for:
Representations of spectacular profit, such as, “Your money will double in six months.” Remember, if it sounds too good to be true, it probably is!
Sounds like they are describing Skousen to a tee. To complain about the efforts of Skousen and Heritage to mislead investors use this online form.