Securities regulators in Manitoba are warning investors about an unregistered firm that has been pitching investments in local newspaper ads.
The Manitoba Securities Commission (MSC) have issued a warning to investors about a company called Ecovexco Investment Group; which, it says, has been advertising a “no risk” investment opportunity.
“Ecovexco Investment Group has placed advertisements that promise unrealistically high returns on investments in complex and high-risk markets,” it says. “The company is purportedly operating out of North Carolina or the United Kingdom and is not registered to conduct business in Manitoba.”
The regulator reminds investors to check registration before investing with any firm. “Checking the registration of anyone offering a securities product is something every investor should do before making a financial decision,” says Chris Besko, acting director of legal and enforcement for the MSC.
“A bit of research into the people you are trusting with your money can go a long way toward avoiding a potentially dangerous investment fraud,” Besko adds.
Investors who believe that they have been approached by an investment fraud are encouraged to call the MSC tip line to file a complaint, or speak with an investigator.