Saskatchewan’s financial regulator is warning the public about an online investment scam utilizing a fake endorsement from Prime Minister Mark Carney.
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The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) issued an alert Thursday against two online entities operating as Delta-CapitalGroup and Delta-AssetGroup. Neither company is registered to trade or sell securities or derivatives in the province.
According to the regulator, the platforms are being promoted through social media posts and images that falsely claim to be backed by Carney.
“Do not make investment decisions based on a notable figure endorsement,” Dean Murrison, executive director of the FCAA’s securities division, said in a statement. “Scammers can use social media posts and images to make it look like a notable figure endorses a company or investment opportunity.”
Delta-Capital claims to offer cryptocurrency trading opportunities, while Delta-Asset purports to trade cryptocurrency, stocks, forex, commodities, and contracts for difference (CFDs).
The FCAA cautions investors that doing business with unregistered firms carries significant risk, as they may not be legitimate enterprises.
The regulator is urging anyone who has invested with either entity, or anyone claiming to act on their behalf, to contact the FCAA Securities Division at 306-787-5645. Officials also remind residents to verify the registration status of any financial professional at aretheyregistered.ca before handing over money.
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