Even though you're here, and the investment you're making is there, the deal still has to follow the laws here.

        In other words, any securities offered in Ohio, Kentucky or Indiana have to comply with the laws of that state. That's easy in most cases. Major securities dealers typically are licensed in all U.S. states and territories.

        But in the age of the Internet, securities are being offered to Tristaters that don't comply with local law.

        The Ohio Division of Securities is on the lookout, though. In addition to investor protection tips, the division has compiled a list of Internet offerings that are available to Ohio residents — but do not follow Ohio law.

        More information is available at www.securities.state.oh.us, or (800) 788-1194.

        The division urges Ohio residents not to invest in:

        • Gaming World Ltd. (www.gamingworld.com). The division ordered the West Indies-based company to stop selling its shares in Ohio. The company's shares are neither registered with the division nor properly exempt, as required by law.

        • The Infinity Group Co. of Fairport Harbor and Chardon, Ohio. The firm has been accused of violating securities laws, including fraud. According to the division, Infinity was selling various investment opportunities, including unit trusts, over the Internet. A court found that Infinity “earned not one cent of interest, dividend, or return of any kind,” and described the venture as a “financial train wreck.”

        • Travelzoo.com Corp. The Ohio securities division warns that the Nassau, Bahamas-based firm may pay no dividends and may have no underlying value. The company should not be compared to any other technology or Internet stock, and it may never be publicly traded.

        • Himel Technology LLC. The securities division again urges caution with this investment, as shares may have no current value or ever be publicly traded.

        The Ohio securities division list is by no means complete or exhaustive. The very nature of the Internet makes such questionable opportunities almost endless.

        Therefore, the division urges investors to T-H-I-N-K about every investment they make:

        • T: Treat guarantees with skepticism. Every investment carries some risk. If it sounds too good to be true, it probably is.

        • H: Home in on your objectives. Invest only as much as you can afford, and consider the reason for the investment. Based on those objectives, you can establish what kind of investments are suitable for you.

        • I: Investigate before you invest. Contact state, federal or industry authorities if there is any question about whether something is legitimate.

        • N: Never be pressured into investing. Don't be intimidated, and don't be afraid to hang up on anyone trying to get money over the phone.

        • K: Know how your investment funds will be used. Such information must be disclosed in a prospectus or other paperwork about the investment.

        Amy Higgins writes about personal finance for the Enquirer. You can reach her at 768-8373; ahiggins@enquirer.com; or Your Money, The Cincinnati Enquirer, 312 Elm St., Cincinnati 45202.

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