GUANGDONG police have urged people not to buy stock tips from three Shenzhen companies after an unspecified number of stock market investors lost money recently after following tips.

The Guangdong Provincial Public Security Department said Saturday that people “scattered all over the country” had lost up to hundreds of thousands of yuan, but could not give any specifics or name the Shenzhen companies.

The companies sold the software through their Web sites. Lured by the prospect of high returns, many people downloaded the software from the Web sites, the police said. During the download process, the buyers were asked to provide their telephone numbers, and the companies later harassed buyers by calling them and asking for their personal information.

When the buyers lost money, and then demanded refunds from the companies, the three companies offered “training” by “experts” for tens of thousands of yuan. Investors who underwent the “training” and subsequently lost even more money were offered tips from a “general manager” who claimed to know of a stock with 200-percent returns. The “tips” also cost tens of thousands of yuan, according to the police.

(Han Ximin)