The comment back was "YES! If you had done your due diligence you would have been easily able to find out that they are licensed to operate as a Cypriot Investment Services firm since 2007."

They may be incorporated as a company in Cyprus, but they are not registered with the regulator to trade securities. Check for yourself on the Cyprus Securities and Exchange Commission .

We issued a temporary order against web-based Genius Funds on February 12. Since then other Canadian provinces have also issued warnings to investors not to do business with this Cyprus-based company.

I have been writing about this for a week to question the very high returns Genius is offering to investors and to ask anyone interested in this fund to do their due diligence first before sending any money.

Get a second opinion. Ask your banker or accountant what they think of Genius' offer of 1.2% daily or 9% weekly returns.

Check out our program "Protect Your Money" - it will help you do your homework.

To read previous posts on this and other topics, click on Let's Talk about Investing.

One comment, in particular, interested me: ".managed Forex account opportunities if you know where to look that offer 25-40% returns." This was in response to me saying "in my view, whopping returns of 1.9% daily and up to nine percent weekly are impossible to achieve."

So let's talk about FOREX, which stands for foreign exchange, for a minute. The FOREX market is about changing currency for another by simultaneously buying one and selling another. Profit and losses are dependent on the fluctuations in the exchange rate between two currencies.

Before you invest in the FOREX market be aware that:

1. The FOREX market is complex and volatile - it takes expert knowledge to track and understand the many variables that affect currency exchange rates. Without this knowledge, you are likely to lose your money.
   
2. There are FOREX scams - the promise of high returns with low risk in the FOREX market is a red flag that the opportunity may be a scan.
   
3. Trading on borrowed money can increase your losses - the more money you borrow to invest in the FOREX market, the higher the risk of losing it.

It does not take a genius to question such high returns - returns that are higher than any bank or financial institution can offer. It just takes common sense.

With the temporary order, Genius Funds cannot engage in any investor activities in the province of BC. Nor can it trade in securities. Tell your friends. Do not do business with Genius Funds. Check out our program "Protect Your Money" it will help you do your homework.

To read previous posts on this and other topics, click on Let's Talk about Investing.

Genius Funds is offering high yield investment funds that supposedly give investors between six and nine percent returns per week. In my opinion, these returns are impossible to achieve without being a Ponzi scheme, where money from later investors is used to pay the promised return to earlier investors.

Genius Funds is offering people commissions to refer others to the fund to make an investment. Genius Funds is being promoted on social media websites and in online classified ads in different Canadian provinces.

Please tell your friends and family not to invest in Genius Funds. If you know anyone who has had dealings with Genius Funds, please file a complaint on our website or contact our inquiry line (1 800 373 6373) toll free across Canada.

To read previous posts on this and other topics, click on Let's Talk about Investing.

Genius funds offer whopping returns: 1.9% daily on one fund and up to nine percent weekly on a second fund. In my view, these returns are impossible to achieve.

Some investors have noted that Genius has a "good track record" - and go on to say that "they never failed to pay me." This is from an investor of five months.

Is that reassuring? Have we already forgotten the lessons learned from Bernie Madoff and Earl Jones - both of whom were in business for a long, long time before their schemes collapsed and investors lost millions?

Much more important are the questions that you need to ask to determine if it is a legitimate investment.

Why not ask your bank manager or someone independent of the deal what he or she thinks about this investment?

Are there any restrictions on reselling or getting your money back? Is Genius registered with any securities commission or any other regulatory body?

It does not take a genius to question why these funds can offer returns that are much higher than any bank or financial institution. It just takes common sense.

With the temporary order, Genius Funds cannot engage in any investor activities in the province of BC. Nor can it trade in securities in BC. Tell your friends. Do not send any money to Genius Funds. Check out our program "Protect Your Money" - it will help you do your homework.

Click on Let's Talk about Investing to read other blogs on this topic and others.