The Alberta Securities Commission (ASC) is warning investors of what appears to be an illegal scheme to sell securities in an Online Casino and/or Sportsbook through Kijiji.
An advertisement on the service posted by a user with a 604 Vancouver area code, states the organization is looking for “partners/investors for expansion.”
In return for that investment, the ad offers up to 20% in monthly return on the investment.
A news release by the ASC says “a high rate of return such as this is a key ‘red flag’ common to illegal investment schemes.”
The ad has been taken down, but
can be found in cached form here.
The regulator says the advertiser “is not a reporting issuer, has not made any filings with the ASC, is not registered with to do business in Alberta, and that its actions are not in compliance with Alberta securities laws.”
To help the ASC protect investors, anyone who has had dealings with the advertiser, or other companies selling securities through online classified advertising, is asked to contact the ASC Public Inquiries office at 1-877-355-4488 or
inquiries@asc.ca.
For more information on how to recognize scams and how to make informed investing decisions, visit the ASC website at
www.albertasecurities.com.