Investor Alert: ASC warns public about Online Casino/Sportsbook and the sale of securities in online classified advertising forums
CALGARY – The Alberta Securities Commission (ASC) is warning investors of what appears to be an illegal scheme to sell securities by Online Casino/Sportsbook (Online Casino).
A Kijiji advertisement posted by Online Casino indicates the organization is looking for “partners/investors for expansion,” offering up to a 20 per cent monthly return on investment.
A high rate of return such as this is a key “red flag” common to illegal investment schemes. Online Casino is not a reporting issuer, has not made any filings with the ASC, is not registered with to do business in Alberta, and that its actions are not in compliance with Alberta securities laws.
The public should be aware that the incidence of these types of advertisements for the sale of securities posted in online classified forums such as Kijiji is increasing, and that these offers are generally fraudulent.
To help the ASC protect investors, anyone who has had dealings with Online Casino or other companies selling securities through online classified advertising is asked to contact the ASC Public Inquiries office at 1-877-355-4488 or firstname.lastname@example.org.
For more information on how to recognize scams and how to make informed investing decisions, visit the ASC website at www.albertasecurities.com.
The ASC is the regulatory agency responsible for administering the province’s securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada’s capital markets.