TORONTO, March 23, 2012 /CNW/ - The Ontario Securities Commission (OSC) is warning investors of what appears to be a form of 'advance fee' scheme that is reportedly targeting shareholders in Medwell Capital Corp. (formerly BioMS Medical Corp.). Advance fee schemes involve contacting investors who may be losing money in a current investment with an offer to buy their shares at an inflated price or exchange them for shares in a different company. Once investors agree to the deal, the operators of the scheme ask the investor to first pay a fee for the transaction or there is a cost to exchange shares. The operators keep the fee, but do not repurchase the shares or issue the promised replacement shares.
This investor alert is in response to reports that Medwell Capital shareholders in Ontario have been solicited directly via phone or email by an individual representing himself as Michael DeJuan of NT Global. This individual is offering to purchase Medwell Capital shares from investors in exchange for shares in some other entity. Shareholders are then emailed a form to complete that includes their contact information and the purported address of NT Global. The address on these forms is false. The name NT Global is similar to that of NT Global Advisors, Inc., a registrant in a number of Canadian provinces, including Ontario. NT Global Advisors, Inc. has confirmed to the OSC that neither it nor any of its employees has been contacting shareholders in Medwell Capital Corp.
If you have any questions or information relating to this matter, please contact the OSC Contact Centre at 1-877-785-1555.
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.
For further information:
For Media Inquiries:
Manager, Public Affairs
Media Relations Specialist
For Investor Inquiries:
OSC Contact Centre
1-877-785-1555 (Toll Free)