The Canada Deposit Insurance Corp. today advised North American investors and depositors of an apparent internet fraud scam falsely involving CDIC that is currently underway.

A person or group of persons carrying on business as the Maryland Investments Club is offering cashable guaranteed investment certificates called “digital investment certificates” for sale over the Internet. These certificates are purported to be issued by MD Private Trust Company and are said to be held electronically and guaranteed in full, by the Canada Deposit Insurance Corporation. This is not the case. The signature of CDIC’s General Counsel, Gillian Strong, on any Maryland Investments Club documentation is a forgery. The certificates falsely bear the Government of Canada wordmark and the logo of the Canada Deposit Insurance Corporation.

CDIC is reminding investors that it does not issue or hold investment certificates of any kind for any person.

To date, two investors in the United States have purchased false digital investment certificates.

CDIC has turned this matter over to the Royal Canadian Mounted Police commercial crimes section for further investigation and has informed authorities in the United States.