Carnahan Warns of Stock Tip Scam

A new scam is out there. Secretary of State Robin Carnahan warns against taking any stock tip you get from someone you don’t know, including those who seem to have called you by mistake. Carnahan says the latest scam is to provide a bogus tip in the guise of a mis-dialed number or fax or e-mail. The caller drops the hint on the latest stock and you think you have been privy to a great insider tip. Carnahan says thousands of these quote-unquote hot tips have been going out. Carnahan explains the idea is to lure people to buy a certain stock, driving up the price. Once the price hits a certain level, the scamers dump their shares, the price plummets. Those conned are left to absorb the losses.