TORONTO, March 15, 2013 /CNW/ - The Ontario Securities Commission (OSC) is warning Ontario investors not to invest with Felmina Alliance Ltd. ("Felmina"), which purports to be located in Panama City, Panama and to have numerous representatives in Ontario and elsewhere in Canada. Felmina is offering investors "investment plans", but Felmina is not registered in Ontario to engage in the business of trading in securities or advising anyone with respect to investing in, buying or selling securities.
Felmina is representing that its "investment plans" earn abnormal returns of 1 per cent - 1.6 per cent per day, which translates into an annual return of over 300 per cent. On January 11, 2013, the OSC issued a warning to investors entitled "Beware: High-yield Investment Programs are Ponzi Schemes" that explains the risks of investing with companies like Felmina. You can find the warning 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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