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In a bid to protect investors from potential fraud and scams, the South Carolina Securities Division announced today that it has launched a crackdown on unregistered investment schemes operating within the state. The move comes amid a surge in complaints from investors who have fallen victim to fraudulent investment schemes promising high returns with little to no risk."We have seen a troubling increase in the number of unregistered investment schemes targeting unsuspecting investors in South Carolina," said Secretary of State Mary-Brennan Fauci, who oversees the state's securities division. "These schemes often promise unrealistic returns and prey on individuals who are looking to grow their savings quickly. It is our duty to protect investors from such schemes and hold accountable those who seek to deceive them."The securities division has already initiated enforcement actions against several unregistered investment schemes operating within the state. These schemes typically involve unlicensed individuals or entities soliciting investments from residents of South Carolina without the proper registration or authorization from state securities regulators. In some cases, investors have reported losing their entire life savings to these fraudulent schemes.To combat the proliferation of unregistered investment schemes, the securities division is ramping up its enforcement efforts and working closely with law enforcement agencies to identify and shut down fraudulent operators. The division is also urging investors to exercise caution and conduct thorough due diligence before investing their money in any scheme, especially those promising high returns with low risk."The old adage 'if it sounds too good to be true, it probably is' holds true when it comes to investment opportunities," said Secretary Fauci. "Before investing your hard-earned money, take the time to research the investment and the individuals or entities behind it. Make sure they are registered with the appropriate securities regulators and have a clean track record. If something doesn't add up, walk away."Investors who believe they have been defrauded by an unregistered investment scheme are encouraged to contact the South Carolina Securities Division for assistance. The division can be reached through its website or by calling its toll-free investor hotline.The crackdown on unregistered investment schemes is part of the securities division's ongoing efforts to protect investors and maintain the integrity of the financial markets in South Carolina. By holding fraudulent operators accountable and educating investors on how to spot potential scams, the division aims to create a safer and more secure investment environment for residents of the state.