It seems like radio is prime ground for scam ads. I'm not sure why it has so many more than TV does, but I find even with Satellite radio (which I almost exclusively listen to because I can't stand regular radio) obvious scams are advertised for long periods. I've even found that the same scams are advertised under different names. For a while there was an ad for this service called "No More Mortgage" and then it stopped airing and then some time later a service called "Nine Year Mortgage" starting airing. It was literally the EXACT SAME ad except they replaced "No More" with "Nine Year" where applicable. Or similar ones where the only difference is that they change their contact info like a phone number but you can tell something is off because the audio levels/cadence don't match with the original ad. For me, the BIGGEST sign of a scam ad is when one of the people speaking on it is doing so over a phone (such as the Mortgage ad listed earlier.) I mean, seriously, you can't come into a production studio for an hour or even get a decent computer headset and record it yourself? You're going to record a phone call?
Back OT, I suppose if you're really concerned you could call the station about it, and if they don't do anything maybe contact a local television station. They seem to love those "We're on your side" stories that expose shady businesses. Stations are not going to be chomping at the bit to rip advertising off their airwaves since it is their main source of income and given how low business has been for the medium in general they're not looking to stop a revenue stream unless they absolutely have to.