CALGARY, Dec. 13, 2012 /CNW/ - The Alberta Securities Commission (ASC)
is warning investors about a "high yield investment" scheme offered
through a promotional website for Loyal Financial Group. A "high yield
investment" scheme involves an investment that promises unrealistically
high returns while disclosing few details on how such returns are
The ASC is issuing the investor alert after it received reports that
Loyal Financial Group has solicited investors using internet
advertising or news releases on public news wires promoting investments
with monthly returns of two per cent to 13.5 per cent. Loyal Financial
Group directs investors to send their applications and money to an
address in Alberta. Albertans should be aware that Loyal Financial
Group and its agents are not registered to sell securities in Alberta.
The company and its principals are located in the U.S. state of
The ASC is working with the Illinois Securities Department in respect of
Loyal Financial Group's solicitations to Alberta and North American
residents. If you have been contacted by someone claiming to represent
Loyal Financial Group, please refer to the Illinois Securities
Department's website at www.cyberdriveillinois.com for more information. In the meantime, the ASC urges the public to be
wary of Loyal Financial Group and other "high yield investment"
schemes. Loyal Financial Group is not associated with Canada Loyal
Financial Ltd., which is headquartered in Oakville, Ontario.
The Alberta Securities Commission (ASC) is the regulatory agency
responsible for administering the province's securities laws. It is
entrusted to foster a fair and efficient capital market in Alberta and
to protect investors.
SOURCE: Alberta Securities Commission
For further information:
For Media Inquiries:
Senior Communications Advisor
For Investor Inquiries:
ASC Public Inquiries
Toll Free 1-877-355-4488