HARTFORD, Conn. (AP) — With investment fraud cases piling up in the weak economy, the U.S. Justice Department is holding summits around the nation to warn investors about the scams, which are often carried out by people with personal ties to the victims.
The first regional conference is set for Oct. 1 in Connecticut, where federal prosecutors have announced a flurry of fraud cases this month including that of a man who cheated clients from his church. Summits are also planned for later in the month in Cleveland, Nashville, Miami, Denver and San Francisco.
"We see it as a growing problem. We see it as a serious problem," Connecticut U.S. Attorney David Fein said in an interview.
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