The Alberta Securities Commission (ASC) has issued a notice on Tuesday warning investors about dealing with a suspicious, South American investment firm that may be soliciting clients in Canada.
The ASC’s warning about investoneforme notes that the company demonstrates certain “red flags” that often signal an illegal investment scheme.
For example, the ASC reports that the firm claims to be based in Brazil, but its website shows that the company’s headquarters is in Panama. In addition, the photos of its purported “executive team” that were originally posted on its website “were copied from another company.” Those photos have been removed from the website and the names of the “executives” have been changed, the ASC says.
Moreover, the company is not registered to sell securities or derivatives in the province of Alberta, the ASC’s notice states: “If you are considering an investment opportunity through a company that is not registered, be sure to understand whether the company is complying with applicable securities laws.”