The British Columbia Securities Commission is warning the public about Pegasus Pharmaceuticals Group Inc. (Pegasus) and its associated companies:

• Careseng Cancer Institute Inc. • Pegasus BioPark (Dalian) Co., Ltd.

Pegasus has been offering Pegasus bonds and debentures through its website (http://pegasusbonds.com) and sales agents. According to the company’s website, Pegasus is using the funds raised for cancer therapy clinics, new drug development and to upgrade manufacturing facilities.

The BCSC is concerned that Pegasus is offering these investments when it has not issued a prospectus or registered with the BCSC.  Furthermore, BCSC staff have concerns about the returns offered on the Pegasus investments, which are as high as 100% per annum.

The BCSC urges the public to be wary about investing in Pegasus or its associated companies.

The BCSC urges investors, agents, or members of the public who have been approached or have information about Pegasus Pharmaceuticals or any of its associated companies to contact the BCSC inquiries line at 604-899-6854 or 1-800-373-6393 (toll free).

Suggested Reading

ICSC update: BCSC settles with Patel and issues NOH against Samji

Spot Investment Scams: Investment Ads

High-yield investment programs: A type of Ponzi scheme

More Resources

Better Business Bureau Top 10 Scams: Binary Options

Protect yourself from all types of scams

Investor Watch: BCSC warns investors about online investment groups and meet ups

  January 31, 2008 Vancouver – The British Columbia Securities Commission is warning the public to look out for possible affinity frauds when using social networking websites that facilitate or advertise meetings related to investment products and seminars.  Websites, like Meetup.com and Craigslist.org, allow people to create groups around investing strategies or advertise seminars for […]