Better Business Bureau of Southern Arizona is warning potential investors to be on the alert for unsolicited phone calls from salespeople offering to set them up with web-based stores or other Internet business ventures.

Consumers nationwide say they lost hundreds or thousands of dollars to telemarketers who took their credit card information in exchange for promises of future business income. Many complaints involve companies based in or near Phoenix. The businesses include Web Media, Web Media Blogging, ITech Financial Group, Web Media Malls and UPG Marketing.

An attorney in the consumer protection division of the Arizona Attorney General’s Office called the Phoenix region “the Silicon Valley” for Internet investment schemes. She said complainants often claim to have lost $40,000, $50,000 or more.

Kim States, BBB President, said the companies typically prey on seniors and the unemployed, who may be vulnerable to high-pressure sales pitches.

“These callers can be very convincing,” States said.  “They know exactly what buttons to push to get (more…)