State warns businesses to be wary of scam

MADISON, Wis. (AP) -- The state is warning Wisconsin businesses about a scam from a company calling itself Corporate Records Service.

The Department of Financial Institutions says there is no state requirement to fill out a so-called Annual Minutes Form and submit a fee of $125.

Paul Holzem, administrator of DFI's Division of Corporate and Consumer Services, says while the form looks official it is not required. Holzem says "business owners should not be hoodwinked into giving out potentially confidential information and paying an unnecessary fee."

The form says that Corporate Records Service is offering to assist businesses with maintaining minutes of meetings of shareholders and boards of directors, but does not include any specifics on how the company will provide that service.

Corporate Records Service is not registered with DFI.


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