The Manitoba Securities Commission has issued a cease trade order against a purported investment club.

The MSC has taken action against Ernest David Janzen of Winkler, Manitoba and the Tri-West Investment Club. The commission ordered that all trading in the securities of Tri-West Investment Club stop; and that Janzen be prohibited from the use of any exemptions under the Act.

The order will be in effect until June 11, when the matter will come before the commission. Other Canadian and U.S. securities regulators have issued cease trade orders against Tri-West Investment Club, too.

The MSC says that Tri-West Investment Club and Janzen are not registered to trade in securities in Manitoba. “The issuing of a temporary order by the Commission prior to a full hearing being held should send a message to the public that the activities are serious and potentially harmful,” said Doug Brown, director of Legal and Enforcement for the commission.

The commission says that written material being distributed by the club describes investing in units of US$1,000 each for a period of one year with a return of 10% per month. The material also promotes a referral program whereby Tri-West Investment Club pays a bonus to any member making a referral. The bonus is 15% of the new investment and 15% of the income earned on the new member’s investment. Tri-West Investment Club is using an address in Belize City, Belize. It also has a Web site and a U.S. fax on demand number.

The MSC invites anyone who has purchased investments in, or is contacted by, the Tri-West Investment Club, to speak to an investigator at the commission.