Loading
Search
NEWS STORIES

Investment Scam Raising Concerns in WisconsinSubmitted: 03/15/2013
Story By Associated Press

MADISON - Wisconsin's securities agency is warning consumers about an investment scheme in which investors are instructed to wire money to Eastern Europe.

State officials say a Birmingham, England-based company doing business as Profitable Sunrise is promising investors risk-free daily returns of 1.6 percent to 2.7 percent for 180 to 240 days.

Department of Financial Institutions securities administrator Patricia Struck says the company's activities could be viewed as selling unregistered securities, which is illegal in Wisconsin.

Investors in other states were told their money would be used to fund short-term loans to businesses and that all funds were insured against losses.

Investors were instructed to wire money to financial institutions in Eastern Europe.

Struck said that securities officials in North Carolina and South Dakota have issued cease-and-desist orders against Profitable Sunrise.

(Copyright 2013 Associated Press - All Rights Reserved)



Text Size: + Increase | Decrease -
| Print Story | Email Story
Sponsored in part by HodagSports.com





 IN OTHER NEWS

MADISON - The presidential recount vote underway in Wisconsin is costing millions of dollars, diverting county workers from their normal end-of-year duties and raising questions about the integrity of the vote.

+ Read More

MILWAUKEE - Two women are charged in the death of a 7-year-old boy who was starved, burned with cigarettes, beaten and whipped.

+ Read More

Play Video

NORTHCENTRAL WI. - Three northcentral Wisconsin police departments need help identifying suspects in the recent skimming of credit cards from local ATMs at banks.

Marshfield, Rhinelander, and Tomahawk police departments are working together to catch the skimming suspects.

+ Read More

Play Video

NORTHWOODS - Temperatures dropping and more snow falling means more snow on our cars and streets. 

Cities all over the Northwoods want to make sure your cars and the roads stay safe with each snowfall by instituting winter parking regulations. 

The regulations in the City of Rhinelander include odd and even street parking to make it easier for clearing roads.

+ Read More

EAGLE RIVER - This years Capitol Christmas tree came from Eagle River, and now the choir performing at the tree-lighting ceremony will come from Eagle River, too.

The Northland Pines High School choir got in one last practice before they head down to Madison tomorrow.

More than 30 students will be performing in front of the governor.

+ Read More

Play Video

RHINELANDER - You probably wouldn't want to pick up stray dogs in your car every day. But that's what many Oneida County Humane Society workers have needed to do a lot of lately.  But not any longer.

The Humane Society got a mildly used Dodge Caravan this month. An anonymous donor gave $10,000, then Rhinelander Toyota and GM chipped in $5,000 each.

"It's nice that the donation came when it did," Humane Society Director Bria Swartout said. "We definitely probably wouldn't have gotten a vehicle as wonderful as this one is without a huge donation that we did get."

+ Read More

Play Video

CONOVER - Great Headwaters Trails board members know people love to walk, run, and bike on the Conover-Phelps Trail.

Now, they need help expanding that trail another five and a half miles.

+ Read More
+ More General News
Search: 





Click Here