VANCOUVER, July 20, 2012 /CNW/ - The British Columbia Securities
Commission is warning the public about Master Benefit Card Canada Ltd.
(Master Benefit Card) and its affiliates. Master Benefit Card is also
known as "Benefit Club".
The BCSC has reports that residents of British Columbia have been
approached to join Master Benefit Card's "membership club" and invest
in a variety of "Benefit Options" or "Benefit Cards". Prospective
investors are asked to pay $100 to become a member, and then pay an
additional amount to gain access to a "Benefit Option". Investors are
instructed to deposit their funds in a U.S. bank account and wait a
minimum period of time before they are able to receive their benefits.
The "Benefit Options" include:
the Automotive Benefit, which offers the use of a luxury car each year
for five years
the Home Ownership Benefit, which offers to pay 90% towards a home and
free title to the home in five years
the Mortgage Benefit, which offers to subsidize monthly mortgage
the Savings Benefit, which offers a 3% to 5% monthly return
Master Benefit Card has been soliciting investors by holding information
seminars and advertising through a website, www.benefitcards.org. The BCSC also has reports that Master Benefit Card has hired sales
agents to sell their "Benefit Cards". The BCSC is warning the public
not to send money to Master Benefit Card.
The BCSC urges investors, agents, or members of the public who have been
approached or have information about Master Benefit Card to contact the
BCSC inquiries line at 604-899-6854 or 1-800-373-6393. Investors can
find information and access resources at the Investor Communications
Services Centre on InvestRight.org.
The BCSC is the independent government agency responsible for regulating
trading in securities within the province. Learn how to avoid
investment fraud at the BCSC's investor education website: www.investright.org
SOURCE British Columbia Securities Commission
For further information:
For media inquiries, please call Richard Gilhooley at 604 899 6713