August 24, 2019

Archives for July 15, 2010

Buescher and Suthers Warn Colorado Business Leaders of Latest Scam; Unveil Resource Website

Today, Secretary of State Bernie Buescher and Attorney General John Suthers are addressing the latest scam (.pdf) targeting Colorado businesses: out-of-state criminals who are stealing the identities of Colorado businesses to gain access to credit.

The criminals create the appearance of a legitimate interest in a business by manipulating records on file with the Colorado Secretary of State. They then use their falsified credentials to apply for lines of credit from major retailers on behalf of that business. Before the company’s actual owner or agent realizes what has happened, the business starts to receive calls from debt collectors and suffers damage to its credit report.

“Corporate identity theft can levy steep costs on businesses unaware that their name and brand have been hijacked to steal credit from banks,” Suthers said. “Not only do these scams cost businesses, but they also decrease the amount of loans that banks can make to legitimate businesses. However, law enforcement can effectively prosecute these cases only if businesses take steps to ensure that they are monitoring who is authorized to act in their names.”

How can a busy business find time to keep an eye on its records filed with the Secretary of State? It’s easier than you might think.

“The most effective and simple way for businesses to protect themselves is through these automated email notifications,” Buescher said. “There’s no limit to how many email addresses can be included for each business, so include your attorney, your accountant, your banker, whoever.”

Most businesses operating in Colorado must register their names and list a local physical address with the Secretary of State’s online business filing system. Business owners can make changes online and, using the e-mail notification system, be alerted whenever such a change is made. If an unauthorized change is made to a record, this instant e-mail notification will allow a business owner to take quick action to help stop the crime before any real damage is done and provide law enforcement time to act.

While only a handful of these cases have been reported to the Colorado Bureau of Investigation so far, business leaders agree that education is the first line of defense. In that spirit, the State has also established a resource site for businesses:

Tenth Circuit: Opinions, 7/14/10

The Tenth Circuit on Wednesday issued no published opinions and three unpublished opinions.


United States v. Pina

United States v. Spencer

Robertson v. Roberts