Department of Banking Issues Warning about Oil and Gas Scams

The Nebraska Department of Banking and Finance is issuing a warning to Nebraska residents considering investing in oil, gas, or alternative energy programs. According to Jack Herstein, Assistant Director for the Department’s Bureau of Securities, con artists frequently rely on today’s headlines in pitching their investment schemes. With recent headlines focusing on prices at the gas pump, Herstein warned Nebraska residents to be alert to investments in traditional and alternative energy projects. Such investments are highly risky and not appropriate for smaller investors.

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