TORONTO, July 21, 2015 /CNW/ - The Ontario Securities Commission (OSC) is warning investors that PFS Investments Overseas Division (PFSOD) is not registered to sell securities in Ontario.
PFSOD is a Florida company that appears to be targeting Ontario victims of an investment scheme involving First Global Ventures S.A. (FGV). In this scheme, Ontario investors purchased shares of Altar Energy Corporation that were subsequently exchanged by FGV for shares of Petromed. PFSOD is contacting these former FGV investors with offers to purchase their Petromed shares or to exchange them for shares in another company.
FGV has been permanently cease traded by the OSC, as well as by the securities commissions of Alberta, Manitoba, New Brunswick, and Saskatchewan.
The Manitoba Securities Commission has issued a warning regarding solicitations made by PFSOD.
It should be noted that PFSOD has no connection with, and should not be confused with PFS Investments Inc., a genuine brokerage firm.
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 the capital markets. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.gov.on.ca
SOURCE Ontario Securities Commission
For further information: For Media Inquiries: [email protected]; For Investor Inquiries: OSC Contact Centre, 416-593-8314, 1-877-785-1555 (Toll Free)