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Fortune Investment Group and five other names added to BCSC’s caution list


British Columbia Securities Commission staff added six new names to its Investment Caution List in December, including a company that was permanently cease traded by a BCSC panel.  


On Dec. 13, 2011, BCSC staff put Fortune Investment Group (FIG) on the Investment Caution List. Later in the month, a commission panel held a hearing against FIG, High Profit Investment Ltd. (HPI), Martin Butcher, and Robert Meeker. The panel issued permanent cease trade orders against the parties.


HPI and FIG were approached by a BCSC investigator posing as a potential investor. In both instances, the investigator received a response via email that reiterated many of the false statements contained on the companies’ websites, in addition to aggressive requests for money orders in US dollars. You can read more about the case and the panel’s decision in the BCSC news release. Butcher and Meeker are now on the national Disciplined Persons List.


On Dec. 15, 2011, the Ontario Securities Commission (OSC) issued an investor alert cautioning investors not to purchase securities from BluePort Capital Corp. BCSC staff then placed the company on the Investment Caution List. The OSC issued the alert after it suspended BluePort’s registration. Prior to the suspension, BluePort was registered as an exempt market dealer in Ontario.


On Dec. 6, 2011, Macro Trade and Forteco Trading Ltd. were added to the Investment Caution List after one of the companies was brought to the attention of BCSC investigators. Macro Trade claims to offer financial services and online trading accounts to investors. It also claims to be owned by Forteco Trading.


Staff also put two other companies on the Investment Caution List on Dec. 6, 2011. Max Tech Oil and Trinidad Oil & Gas Corporation were added to the list after another provincial regulator alerted BCSC investigators that Max Tech Oil had solicited an investor to purchase an interest in an oil well in Texas that Trinidad Oil & Gas operated.


None of the six companies are registered in BC to trade in, or advise on, securities or exchange contracts. Additionally, Max Tech Oil and Trinidad Oil & Gas Corporation have not filed a prospectus with the BCSC.


The BCSC urges investors to use extreme caution when dealing with firms that are not registered in BC.