On Sept 8
The Wall Street Journal cited World Group Securities
aka the World Financial Group a scam.
Titled: Free Lunch? It Might Serve Investor a Scam
By Kelly Greene and Kara Scannell
PArt of the article: "Sins of Omission: In June, for example, the Utah Division of Securities fined World Group Securities Inc., of Duluth, Ga., $50000 after finding that..."
WGS was fined $50,000.00 for host fraudlent "free lunches" It mainly was as any a sales pitch. Draw you in with a "free lunch" and then sucker punch you with a sales pitch.
What we don't understand is why WFG is able to operate as both WFG and WGS and as other entities. Most of these WFG reps have multiple business cards. If one of their operation get exposed, they just assume another mask to fool the public and jump back and forth.
Just beware of this scam in all of its forms.
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