Be Careful Investing in Oil Wells; Boca Firm Attracts Suspicion From Regulators
To be clear: Just because Boca Raton-based Seisma Oil Research and its associated companies were hit with a cease-trade order in Saskatchewan doesn't mean that it's a scam.
It just means that the company's executives may not have registered with the Canadian province's financial commission, which is a prerequisite to selling securities and giving investment advice. Then again, a cease-trade order can never be construed as a point in Seisma's favor.
Nor is it particularly encouraging that Seisma has been blacklisted by regulators in the United Kingdom. And in Australia.
I would be happy to provide a link to Seisma's website, except my web browser warned me that it was a virus threat.
Again, not evidence of a scam, per se. Just a helpful reminder of the importance of doing due diligence before making an investment.
Even a simple Google search can make a big difference. When the second Google hit is for a website whose address contains the phrase "scamfraudalert," well... that's yet another reason it may not be worth pulling money out of your IRA and giving it to Seisma's executive team.
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