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Irwin Law
Irwin Law, Attorney
Category: Business Law
Satisfied Customers: 6769
Experience:  30+ yrs. representing small business, real estate, probate
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In do not know which category this falls into -

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In do not know which category this falls into - it regards XXXXX XXXXX in the U.S. Apparently my shares are "restricted" and I am unable to sell them until I get these "restrictions" lifted. I have been given Department of Securities Trading in XXXXXXXXX X.X. XXX XXX XXXX XXXXX, XXXXXXXX, XXXXXXXXX X.X. XXXXX Phone: XXX XXX XXX XXXX Fax: XXX-XXX XXX XXXX email:[email protected] [email protected] Is this true? Do I have to pay for these restrictions to be lifted? Is this Department of Securities Trading a government organisation? Regards XXXXX XXXXX

Did you buy your shares through a registered regular brokerage, or from a phone or internet solicitation. If it was by phone or internet, you might have been the victim of a scammer. See this from an Australia based website dealing with scams: and also:

There is other information that The Department of Securities Trading is NOT a legitimate US government agency or affiliated with the government in any way. It appears that they are fraudulently posing as a government agency. The domain name,, was registered just 5 months ago, which also confirms this as a scam, as any government agency website would have been registered much longer than that.

Any proposal presented to you that involves the Department of Securities Trading would be a scam and you would be extremely wise to avoid it.

I sincerely XXXXX XXXXX this information helps you and I wish you the best.

Companies that issue stock for trading to the public in the USA are regulated by the Securities and Exchange Commission (SEC).

*** Thank you for submitting your question to Pearl-Just Answer. We appreciate your business. If you need clarification or additional information, please send me a Reply and I will be happy to explain further. Please consult a local attorney to verify the accuracy of this information according to your state's laws.

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Customer: replied 3 years ago.

Hi, and thanks,


so this is another scam deal - one of 20+ that I have had to put up with at least. How come that the web site is kosher?


How does anyone in this fraudulent world decide what is good or bad?


And I thought that Victor Kondas was a good guy!


Anyway, I emailed the (kosher?) email address from their web site and await a reply......


Depressing. I have lost loads + loads of money to scamsters over the years - more even than your salary! I am not being faceous but making a point.


Oh dear.....


Just found an email from Securities + Trading telling me that both email
addresses are genuine. surely anything .gov is ok? If not, the world has
gone crazy and noone will know what the hell to do. I have contacted the
SEC many times

Hi Marias: I hope for your sake that I'm wrong and that it really isn't a scam. I only know that solicitations via phone or e-mail or fax are fraught with danger and should be avoided. If I saw how the deal was pitched to you and the methods used, plus the name of the stock you bought I might be able to tell you more. Of course you might have bought a legitimate company stock - overpriced and worthless, but a real stock. The website looks nothing like what a US government agency's usually looks like. You say: Just found an email from Securities + Trading telling me that both email
addresses are genuine
. surely anything .gov is ok? Of course e-mail addresses can be genuine, but they can still be a bunch of scammers behind it. I can't explain the .gov., or the restricted stock issue that you raised. Restricted stock is usually for stock issued to insiders before an IPO, so they can't dump it immediately. You also have to be very careful about people who will offer to help you recover money from these scam artist for up front fees. They are usually part of the scam themselves. I saw this done in the early 90s (pre internet) with people selling U.S. Government Alaska Oil leases. The leases from the US Dept of Interior were genuine, but impossible to develop, i.e. worthless. The scammers broke them up into small parcels and sole them by phone with huge mark-ups. I'd say from what I've seen, your best course of action is to swear off forever sending money to anyone based on an internet contact. Also, never invest in anything that you can't check out independent from the person who is trying to sell it to you. Good luck to you and thank you for choosing Answer for your question.. We hope it has been a positive experience and that your rating of this Answer will reflect that. Your business is appreciated.


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