The British Columbia Securities Commission added Imperia Invest IBC to its Investment Caution List after the U.S. Securities and Exchange Commission issued an Investor Alert warning investors about a possible advance fee scheme that specifically targets deaf investors.
In October 2010, the SEC’s Office of Investor Education and Advocacy alerted investors about Imperia Invest IBC, after the agency alleged the company raised more than $7 million, of which $4 million was collected primarily from approximately 6,000 deaf investors in the U.S.
The SEC also said in its complaint Imperia Invest IBC had defrauded more than 14,000 investors worldwide.
The SEC alert warns potential investors, including deaf investors, about the risks of possible “advance fee” schemes related to the companies with names similar to Imperia Invest IBC. In such a scheme, the scam artist asks for money up front for the deal to go through. The bogus fee may be described as many things – a processing fee, or commission, for example. These types of schemes are known to target victims who lost money in a previous scam.
If you live in B.C. and you are aware of anyone promoting what looks to be an advance fee scheme or an investment under the Imperia name, call or e-mail us immediately. Our e-mail is [email protected] and our toll free number is 1-800-373-6393. Residents of the Lower Mainland can call 604-899-6854.
AMF warns about Forex internet solicitations
Yesterday, the Autorité des marchés financiers warned Quebeckers about unregistered companies that were soliciting investors to speculate on the currency market.
The regulator signalled out two websites forexcanus.com and forex.com, warning that the companies running these websites are not registered in any capacity with the AMF.
We’ve added the information from the AMF watch to our Investment Caution List, under 6149154 Canada Inc.
We urge British Columbia residents to exercise extreme caution when dealing with firms that are not registered to trade or advise in British Columbia. You can find out more about the risks associated with investing in Forex in the Investing 101 section of InvestRight.org.
Nova Scotia and Ontario investor warnings
The Nova Scotia Securities Commission is alerting investors who may be considering purchasing securities from Seisma Oil Research, Seisma Energy Research, or related companies. The companies were permanently cease traded in Saskatchewan, are listed as a potential scam the U.S. and Australia. For more information, check out the NSSC Investor Alert.
The Ontario Securities Commission added Thunderlight Entertainment, I.W.F. Inc. (“TWF”), Horizon Explorations Ltd., and Keystone Explorations to its Warning List in August. The OSC posts updates to its warning list on its Twitter feed, @OSC_News.
I have been blogging about this Cyprus-based company for some time. On February 12, we issued a temporary order against Genius Funds alleging that it had breached various securities laws. Last week, the Alberta Securities Commission issued an interim cease trade order against the company alleging that they have engaged in illegal trading and distribution of funds. This morning […]