State warns of investment traps

So-called distressed real estate schemes are on the list of top investment traps being highlighted by Maine business regulation officials. The Office of Securities and the North American Securities Administrators Association say many investors have been taken in amid difficult economic conditions and fluctuations in the stock market. Many investment traps promise high returns to cash-strapped investors but provide little if any disclosure of risks and offer high commissions to aggressive salespersons. In their warnings, the officials say offerings of distressed real estate have been on the rise following the collapse of the real estate bubble. (AP)