The Illinois Secretary of State is reminding taxpayers if an investment opportunity sounds too good to be true, it probably is.
Jesse White opened a campaignMonday to encourage people to investigate potential investments before handing over money. White says investment fraud costs Illinois residents millions of dollars each year.
Most incidents involve advisers and salespeople who are not licensed to sell securities or offer investment advice.
White set up a website for investors to find license information. A list of questions to ask brokers is available on there, along with tips on how to check whether the broker or adviser is registered with the state or has a disciplinary record.