Securities regulators in Manitoba issued a warning about yet another unregistered “high yield” investment scheme.
The Manitoba Securities Commission (MSC) is warning investors about a scheme offered through a promotional website for a company called Felmina Alliance.
The MSC says that the firm, which operates out of New York and/or Panama, is not authorized to carry out business in Manitoba. And, it says that it’s concerned that investors in Manitoba may have been caught up in the scheme.
The commission says that the website offers an ‘investment opportunity’ to earn 1.0% to 1.6% interest daily, which is characteristic of high-yield investment schemes that promise unrealistically high returns while disclosing few details on how these sorts of returns are generated.
“This is the third investor alert that the MSC has issued within this past month,” said Len Terlinski, an investigator with the MSC. “We can’t warn people enough about the importance of doing a thorough check into investment opportunities. If they invest and it is not legitimate the likelihood of getting their money back is slim to none.”