TORONTO, May 27, 2014 /CNW/ - The Ontario Securities Commission (OSC) is warning investors, who may have invested in York Rio Resources Inc., about solicitations made by individuals acting on behalf of an entity named GSA Settlements.
The individuals acting on behalf of GSA Settlements have invited an investor to provide certain financial information to receive a portion of funds, which the individuals purport to hold in a "Settlement Fund Account" related to York Rio Resources Inc.
On March 31, 2014, the OSC issued a Reasons and Decision on Sanctions and Costs, concluding a proceeding in which York Rio Resources Inc. was a respondent. For details on the sanctions and costs imposed, please visit the "All Commission Proceedings" section of the OSC website.
The OSC is not associated with GSA Settlements or its purported funds distribution scheme, nor has the OSC made any announcement with respect to a distribution of investor funds in relation to the above-noted proceeding.
On March 18, 2011, the OSC issued a warning to investors entitled Advance Fee Fraud: How to avoid being a victim that describes characteristics of a fraudulent scheme that targets investors who may have lost money on an earlier investment. The warning can be found on the "OSC Investor News" section of the OSC's website at www.osc.gov.on.ca.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in capital markets. Investors are urged to check the registration of any person or company offering an investment opportunity and to review the OSC's investor materials available at www.osc.gov.on.ca.
If you have any questions or information relating to this matter, please contact the OSC Contact Centre at 1-877-785-1555.
SOURCE: Ontario Securities Commission
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