Salesmen in the oil and gas industry are very good.
They sell the “incompossible.”
I recall one of my high school teachers using the word, “incompossible,” and then thinking there is no such word. Then she explained to our class that two things are “incompossible”: (1) when the world has the range enough for one of them; and (2) but not enough for both. What does that mean? Since our law firm has represented over 125 people from all over the United States who were the victims of oil and gas frauds, that word has shown us why hard-working people who have invested in oil and gas scams perfectly describes the kind of mindset that makes investors susceptible to fraud—reaching for the “incompossible.”
Don’t Be a Victim of “Incompossible”
We understand that it is exciting for most people to think about investing in an oil and gas venture. Unfortunately, the fraudulent oil and gas companies are aware of that thinking. Consequently, they will place “cold calls” to successful people, many of which they consider elderly. These fraudsters think these people are an “easy sell.”
Over the years our law firm has determined that many oil and gas scams obtain “lists” of successful, elderly individuals, who become target of their investment scams. It is true, and sad that many of these oil and gas frauds are Ponzi schemes. Additionally, many of these oil and gas fraud companies take investor funds, and instead of using that money to drill wells and produce revenue for their investors, they use those funds for their personal pleasure.
Recently, we have discovered that these fraud companies have been using social media to advertise and obtain investor’s money. We have strongly recommended to our clients to run as fast as they can away from those advertisements.
As we stated above, the salesmen for fraudulent oil and gas companies are very good at getting your money. Our law firm cautions people to never be pressured into making a hasty investment decision. If a salesman sends you documents regarding the oil and gas project, we suggest that you contact the state regulatory agency where in the oil and gas project is located and secure the history of the well(s), have your CPA and someone who has vast experience in oil and gas investments scrutinize those documents for veracity. This is critical. Our years of experience has proven that if one takes this advice there is a good chance that they won’t be another victim of an oil and gas fraud.
Bottom Line: If you receive a “cold call.” Don’t invest.
Mark A. Alexander. P.C. is here to help. Call us today at (972) 544-6968.
