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DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS DAVID Y. IGE GOVERNOR CATHERINE P. AWAKUNI COLÓN DIRECTOR TY Y. NOHARA SECURITIES COMMISSIONER FOR IMMEDIATE RELEASE September 25, 2020 The State of Hawaii Joins with CFTC to Charge Precious Metals Dealers in $185 Million Scheme Targeting Elderly Investors HONOLULU — The Department of Commerce and Consumer Affairs’ (DCCA) ...
Read More RELEASE: HAWAII JOINS CFTC TO CHARGE PRECIOUS METALS DEALERS IN 5M SCHEME

July 2020

Posted on Jul 2, 2020 in Commissioner's Corner

  TIP: Social media connections can provide scammers with the opportunity to reach large numbers of potential investors and make quick money.  The schemes being perpetrated are simply old scams wrapped in a new package.  Often times, the underlying scam is a Ponzi or Pyramid Scheme. Related Investor Education Handout State Issues Warning About Investment ...
Read More July 2020

June 2020

Posted on Jun 2, 2020 in Commissioner's Corner

TIP: Every year, victims are scammed out of millions of dollars. Our Kupuna, especially in Hawaii are a target for con artists because they tend to have a trusting nature and a large nest egg. Often, the “con artist” turns out to be someone that the victim knew and trusted. Don’t let a greedy con ...
Read More June 2020

DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS DAVID Y. IGE GOVERNOR CATHERINE P. AWAKUNI COLÓN DIRECTOR TY Y. NOHARA SECURITIES COMMISSIONER FOR IMMEDIATE RELEASE May 22, 2020 Hawaii LifeSmarts Program Receives Top National Honor HONOLULU — The state Department of Commerce and Consumer Affairs (DCCA) proudly announces that the National Consumers League named Theresa Kong Kee ...
Read More RELEASE: HAWAII LIFESMARTS PROGRAM RECEIVES TOP NATIONAL HONOR

May 2020

Posted on May 1, 2020 in Commissioner's Corner

TIP: Advance fee fraud ask investors to pay a fee up front – in advance of receiving any proceeds, money, stock or warrants – in order for the deal to go through. These schemes may involve the sale of products or services, the offering of investments, lottery winnings, found money, or many other so-called opportunities. ...
Read More May 2020

DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS DAVID Y. IGE GOVERNOR CATHERINE P. AWAKUNI COLÓN DIRECTOR TY Y. NOHARA SECURITIES COMMISSIONER FOR IMMEDIATE RELEASE April 25, 2020 State Issues Warning About Investment Schemes Circulating on Social Media HONOLULU — The state Department of Commerce and Consumer Affairs’ (DCCA) Office of the Securities Commissioner is warning the ...
Read More RELEASE: State Issues Warning About Investment Schemes Circulating on Social Media

April 2020

Posted on Apr 1, 2020 in Commissioner's Corner

Tip: Cryptocurrencies are digital assets created by companies or individuals that take the form of a virtual coin or token. Cryptocurrencies are intangible and exist only on the internet. Central banks and other governmental authorities do not insure or control cryptocurrencies. Before you jump into the crypto craze, be mindful that cryptocurrencies and related financial ...
Read More April 2020

DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS DAVID Y. IGE GOVERNOR CATHERINE P. AWAKUNI COLÓN DIRECTOR TY Y. NOHARA SECURITIES COMMISSIONER FOR IMMEDIATE RELEASE March 29, 2020 Franchise Filings Deadline Extended HONOLULU — The state Department of Commerce and Consumer Affairs’ (DCCA) Office of the Securities Commissioner has extended the deadline for franchise filings to April ...
Read More RELEASE: Franchise Filings Deadline Extended