Investors are being warned about a purported high yield investment fund website operator, Genius Funds, also known as Genius Investments.

The New Brunswick Securities Commission (NBSC) confirmed Wendesday that the Cyprus-based company is not registered to sell securities in the province.

There are no known New Brunswick investors, however if anyone in this province has been contacted by this company they should phone or email the NBSC.

The NBSC investor alert follows a temporary order issued by the British Columbia Securities Commission (BCSC) on February 12 alleging that the company has breached various securities laws.

The BCSC alleges that Genius Funds is making misrepresentations to investors because it offers a rate of return that is impossible to earn consistently through legal means.

The B.C. investigation is on-going but their order temporarily prohibits Genius Funds from trading in any securities or engaging in any investor relations activities in the province.

IE