The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) has issued a temporary cease-trade order to put a halt to an alleged “reload” scheme, the regulatory announced on Monay

The FCAA issued a temporary cease trade order against Global Financial Group NV, which purports to be an Ontario-based company, two of its employees, David Taylor and Damien Gerhard Phelps and a third man, Nathan Britten, who is falsely claiming to be an employee of Computershare, the FCAA says in a news release.

The firm and three men “appear to be running a reload scheme”, which involves targeting previous victims of fraud, or securityholders in a failing company. “The person is offered help to recover their losses, but is manipulated into losing more money,” the FCAA says.

“David Taylor and Damien Gerhard Phelps are either officers or employees of Global Financial, and appear to have traded in securities or derivatives with a Saskatchewan resident.” It also notes that none of the subjects of the cease-trade order are registered to trade in Saskatchewan.