Corporate Compliance Fraud in Ohio

logo_clevelandThe Cleveland Plain Dealer is reporting a fraud that uses the cover of corporate compliance: ‘Corporate Compliance’ form not from any government agency. According to columnist Sheryl Harris, businesses are receiving official-looking mailings with a form requesting a $150 fee to comply with the annual meetings under state law.

As the story points out, not all companies need to have an annual meeting and even if they did, filling out a form is not a sufficient replacement for an annual meeting.

The Ohio Secretary of State has posted an alert on her website: Alert: Annual Minutes Disclosure Solicitation. She has also published an example of the fraudulent mailing (.pdf).

As with the fraudulent SEC Examiners stories we are hearing about, it is sad to see fraudsters using compliance to dupe their marks.

Thanks to Corporate Compliance Insights for pointing out this story:Attention: Beware of Corporate Compliance Form Hoax Circulating in Ohio.

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4 Responses to Corporate Compliance Fraud in Ohio

  1. AZ May 20, 2010 at 1:57 pm #

    I just got the annual minutes requirement statement from Compliance Services. I thought it was legitimate until I saw this sentence: “This product has not been approved or endorsed by any government agency and this offer is not being made by an agency of the government.”

    This is so official looking, I wonder how many business owners sent in their money to this fraudulent company. Beware!!!


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