|By PR Newswire||
|August 11, 2014 10:19 AM EDT||
CALGARY, Aug. 11, 2014 /CNW/ - The Alberta Securities Commission (ASC) is warning investors of what appears to be an illegal scheme to sell securities that was recently promoted on a Calgary radio station by TRID Pacific Investments (TRID). TRID representative Raymond Levine encouraged Alberta investors to place funds in offshore accounts in order to access a new investment product known as "Contract for Difference Trading," which employs leverage. This alleged investment opportunity continues to be posted and promoted through the radio station's website.
The public should be aware that TRID is not registered to sell securities in Alberta, is not registered to do business in Alberta, and that its actions are not in compliance with Alberta securities laws.
There are several "red flags" common to illegal investment schemes or scams present in the promotion by TRID:
Assurances of high returns with low risk. Higher returns usually come
with higher risk. TRID promises that for each $5,000 invested, it will
leverage $100,000 to make profits; at the same time, TRID indicates
that investors' risk of loss is limited. Leverage is used to increase
potential gains, but there is generally also a high level of risk that
it will result in increased losses.
Money moved offshore. This makes it more difficult, if not impossible,
for investors to retrieve their money if something goes wrong. TRID
purports to be based in Monaco, but funds are sent to accounts in
- Claims that invested funds are protected from loss. This type of investment carries with it significant inherent risk that make it highly unlikely for investors to be insured against loss.
To help the ASC protect investors, anyone who has had dealings with TRID is asked to contact the ASC Public Inquiries office at 1-877-355-4488 or [email protected].
For more information on how to recognize scams and how to make informed investing decisions, visit the ASC website at www.albertasecurities.com.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
SOURCE Alberta Securities Commission
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