BC and Alberta Securities Regulators Issue Warning of Suspicious Investment Scheme
Published January 26th, 2007
The British Columbia Securities Commission and the Alberta Securities Commission have reports about a scheme being offered at free, public seminars at which people are introduced to a way to participate in extraordinary investment returns with references to money moving offshore and Canadian tax avoidance. These are some of the "red flags" that regulators typically warn investors about.
Seminar attendees are told that they can join an organization for a fee that then allows them to learn about and access a system to become "portfolio account managers" and restructure their assets through a variety of methods including opportunities in the precious metals industry, consumer debt or capital markets, environmental projects and international mutual funds.
According to reports, under this scheme a fee is paid and members are given a one-year probation period with the organization to restructure their own assets, refer other people into the organization, or introduce a new business opportunity to the group.
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