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The following news release was submitted to Monthly from the Beaufort County Sheriff's Office:
The Beaufort County Sheriff’s Office is investigating complaints of a potentially fraudulent financial operation that has made victims of at least two Hilton Head Island residents.
The two victims, a 76-year woman and a 68-year man, reported separate incidents each involving personal investments made with a company by the name of Heritage Deposit Brokers. The victims each reported receiving both phone calls and literature through the mail from the allegedly Chicago-based company.
Believing they were investing in unusually high-yield Certificates of Deposit, both victims mailed a series of checks for payment. One victim, having continued investing with the firm over a 4-year period, reported sending approximately $500,000. The other victim reported investing over $100,000.
Suspicions of the true intentions of the operation arose when the female victim recently attempted to cash out her investments. After repeated requests to withdraw funds were refused, the victim found that the contact number had been disconnected. The male victim advised that despite the company’s claim to have sent them, he had never received any confirmation of his investments. After repeated attempts to make contact with a representative were unsuccessful, the victim learned that no record of his investment was to be found at any legitimate financial institution.
Investigators have found no credible confirmation of SEC or FDIC certification or endorsement for Heritage Deposit Brokers, nor any legal documentation lending to its legitimacy.
Based on the facts of each case, it is believed that these transactions were likely a form of what is commonly referred to as a “Nigerian Scam.” These scams come in various and ever-changing forms, usually with the promise of very large payouts that may seem to be “too good to be true.” The basis of these schemes involves victims sending money to get larger amounts of money in return. As these scams have evolved over time, it is common to find that the money has been sent overseas to virtually untraceable sources.
At this time, there is little local law enforcement can do in terms of pursuing these cases, as the culprits are usually operating internationally, well outside local or state jurisdictions. Recovery of funds lost to these scams is unlikely. Despite legal limitations in combating this crime, it is important that the public be aware of these operations, in hopes of possibly deterring future victims. It is recommended that citizens never provide financial information to an unsolicited source, and to be extremely cautious with transactions not made in person.
The Sheriff’s Office encourages anyone who may have contributed funding for investments with Heritage Deposit Brokers to contact Investigator LCpl. W. Conant at 843-255-3424. It may be necessary to document the incident(s) for personal financial records, and also for use by federal agencies tasked with investigating these crimes.
