Don't miss a story sign up to Sidmouth Herald's FREE daily newsletter CLICK HERE

Elderly targeted by ‘rare earth metal scam’

Archant

Police are warning Sidmouth residents about a national scam targeting the elderly involving investment in rare earth metals.

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”.

To report an instance of fraud or for more information contact Fraud Action on 0300 123 2040.

0 comments

Other News Stories

Dr Bob Symes OBE giving a talk in 2008

The former honorary curator of Sidmouth Museum certainly made an impact on the town, say his family.

Read more
Peter Judd said Susan's hair and clothes were ruined

Environmental health officers are investigating after a ‘torrent of filthy water’ rained down on a couple from an historic house on Sidmouth seafront.

Read more
06:22
Sarah and Philip Rose of Rosey's Chippy in Ottery. Rosey's has recently reopened after a fire forced the shop to close. Ref sho 20-16AW 7782. Picture: Alex Walton

Rosey’s has re-opened after fire forced eight-week closure

Read more
Yesterday, 16:30
The Jurassic Coast World Heritage Team (l to r) Left to right: Dr Sam Rose, Alex O’Dwyer, Sally King, Dr Anjana Ford, Caroline Pearce, Guy Kerr, Katie Thompson, Sam Scriven, Lesley Garlick

The Jurassic Coast World Heritage Team has won national recognition for its efforts to involve others with the site.

Read more
Yesterday, 16:09
Billy Roberts launches his new business, Bills Fresh Fish. Ref shs 21-16AW 8287. Picture: Alex Walton

An 18-year-old who has fished since he started walking has turned his hobby into a job for life.

Read more
Yesterday, 15:49
A tent and pizza boxes were among the litter found at Core Hill

This ‘mindless and shameful’ littering shocked a mum-of-three trying to enjoy the outdoors with her children.

Read more
Yesterday, 10:49
The pompom field in the gardens outside Dray Court on Exmouth's Rolle Road is part of Exmouth's Art Trail, Photo: Paul Strange.

There’s an extraordinary sight on Exmouth’s Rolle Road for the next few days.

Read more
Yesterday, 08:15
Amelia Roberts died at the age of 11 following a six year battle with Battens Disease. Her mother Bev described her daughter as her 'superhero'

A Sidbury family has paid tribute to its ‘superhero’ daughter and sister whose smile and strength drew people in wherever she went.

Read more

Local Weather

Partly Cloudy

Partly Cloudy

max temp: 17°C

min temp: 13°C

Most Read News

Great British Life

Great British Life

Useful Links

Family notices
Advertise in the paper
Submit a Story
Submit a Story
Buy Photos
Competitions
iwitness24
Facebook
Twitter
Google Plus Page
Reader Travel

Family Notices 24

Read Online

Image
Read the Sidmouth Herald e-edition E-edition

Newsletter Sign Up

Local business directory

Devon's trusted business finder

HOT JOBS

Show Job Lists


Find planning applications