The Nova Scotia Securities Commission (NSSC) is warning investors about an unregistered firm carrying out an apparent advance fee scheme.
The NSSC said Monday that a company called Aura Acquisitions & Mergers (Aura), and its representatives, contacted a Nova Scotia resident, telling her that she held shares in an account that had generated a “substantial profit”, which could be accessed by paying an outstanding purchase balance, via money transfer, to the company. Yet, the regulator says, the woman did not open any account.
The regulator says that Aura, and the shares it offers, International Oil and Gas Inc., are not registered with the commission. And, it notes that the company is also the subject of a warning in Europe for similar activities.
The NSSC stresses that investors should “exercise extreme caution when dealing with firms that are not registered”.