| PRESS RELEASE |
| Investigation Launched into "Guaranteed" Investments |
| For Immediate Release |
| Wednesday, August 25, 1999 |
| Contact: |
Shaun Mullins, Enforcement Attorney |
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Oklahoma Securities Commission |
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405-280-7700 |
Oklahoma City///// Irving Faught, Administrator of the Oklahoma Department of Securities (Department), announced today the issuance of an Order Initiating Investigation against numerous respondents involved in offering investments to Oklahoma residents in “guaranteed” contracts.
The Order Initiating Investigation names Chemical Trust, United Marketing Trust and Clifton Wilkinson, all of Atlanta, Georgia, and Omega Financial Services of Oklahoma City.
Records obtained by the Department indicate that Chemical Trust is offering “guaranteed” contracts that purportedly provide substantially higher interest rates than can be obtained through certificates of deposit or fixed annuities. The contracts have a term of 12 months or longer. The principle amount of the investment is touted as “guaranteed” by a surety bond issued by United States Guarantee Corporation, a Nevada corporation based in Scottsdale, Arizona. United Marketing Trust and Clifton Wilkinson handle all public relations and marketing for Chemical Trust. The contracts are currently being offered in Oklahoma City by Omega Financial Services. |
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| This press release, and related information, is available on the Securities Commission's web site at
securities.ok.gov, by phone at (405) 280-7700, or in writing at:
Oklahoma Securities Commission, First National Center, 120 North Robinson, Suite 860, Oklahoma City, OK 73102. |
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