(November 17 – 11:15 ET) – The B.C. Securities Commission has issued a warning about the possibility of an investment scheme. Presently, under investigation in Atlantic Canada, it could surface on the west coast, says the Commission.

Sold under the name Personal Empowerment Program (PEP), the purported investment is also marketed as Davis and Davis Professional Development Seminars Ltd. (PDSL), Lauron Enterprises Ltd. and 3021310 Nova Scotia Ltd. Regulators estimate as many as 80 people have lost more than $850,000 through participation in these ventures.

Ronald G. Davis and Laurie (Jeffers) Davis, the couple behind the investments, are under investigation by the securities division of the Prince Edward Island Attorney General’s department for trading in an unlicensed investment product. The Nova Scotia Securities Commission has also issued a cease trade order against the couple.

Atlantic Canada securities regulators believe other individuals involved in promoting the PEP companies may be moving to British Columbia.

Potential investors are recruited through newspaper ads looking for people who want to work from home or who are interested in careers in “human development.” They are sold membership packages that include workbooks, videos, training manuals and other miscellaneous support tools that allegedly enable them to sell PEP packages to others.

Once they become a “PEP member,” they are offered “investment blocks” in one of the companies. Investors are told the companies have huge growth potential and are close to signing lucrative TV contracts for a program promoting PEP. Investors are also promised returns of up to 25 per cent annually.

Anyone approached by individuals claiming to be associated with PEP or Davis and Davis Professional Development Seminars should contact the BCSC at 899-6600 or 1-800-373-6393.
IE Staff