Elderly Targeted by ‘Rare Earth Metal Scam’

Officers in Devon and Cornwall have recently become aware of a fraud whereby following a ‘cold call’, victims are persuaded to invest substantial amounts of money in rare earth metal oxides.

A spokesman said: “The victim tends to be elderly and contact is usually made by telephone and following pressurised selling, considerable amounts of personal savings are deposited into seemingly bone fide company bank accounts in the hope of a future substantial return, which in fact never materialises.”

Nationally, the fraud totals millions of pounds with thousands of victims, several of whom are in the South West.

Detective Sergeant Mark Newnham said: “Genuine companies do not ‘cold call’ and use intimidating and persuasive tactics, and I would urge anyone who is contacted out of the blue regarding such investments to think very carefully.

“Do not agree to invest on a whim without making basic checks into the company”.

Rare Earth Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
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Email: sales@chinatungsten.com
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