REGINA — The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) is warning Saskatchewan residents about the online entities known as Delta-CapitalGroup ("Delta-Capital") and Delta-AssetGroup ("Delta-Asset").
Delta-Capital and Delta-Asset have been promoted through an impersonation scam falsely claiming endorsement by Prime Minister Mark Carney.
"Do not make investment decisions based on a notable figure endorsement," FCAA Securities Division Executive Director Dean Murrison said.
"Scammers can use social media posts and images to make it look like a notable figure endorses a company or investment opportunity. Before you consider investing with an entity, always check the registration status at aretheyregistered.ca and do not deal with any unregistered entities."
Delta-Capital claims to offer Saskatchewan residents investment trading opportunities including cryptocurrencies. Delta-Asset claims to offer Saskatchewan residents investment trading opportunities including stocks, cryptocurrencies, forex, commodities, indices, equities and contracts for difference (CFDs).
Delta-Capital and Delta-Asset are not registered with the FCAA to trade or sell securities or derivatives in Saskatchewan. The FCAA cautions investors and consumers not to send money to companies that are not registered in Saskatchewan, as they may not be legitimate businesses.
If you have invested with Delta-Capital, Delta-Asset or anyone claiming to be acting on their behalf, contact the FCAA's Securities Division at 306-787-5645.
In Saskatchewan, individuals or companies need to be registered with the FCAA to trade or sell securities or derivatives. The registration provisions of The Securities Act, 1988, and accompanying regulations are intended to ensure that only honest and knowledgeable people are allowed to sell securities and derivatives and that their businesses are financially stable.
There may be other businesses with the same or a similar name to "Delta-CapitalGroup" or "Delta-AssetGroup". This alert does not apply to any such business. This alert applies only to the online entities using the websites "delta-capitalgroup com" and "delta-assetgroup com" (these URLs have been manually altered so as not to be interactive).
Tips to protect yourself:
- Always verify that the person or company is registered in Saskatchewan to sell or advise about securities or derivatives. To check registration, visit the Canadian Securities Administrators' National Registration Search at aretheyregistered.ca.
- Know exactly what you are investing in. Make sure you understand how the investment, product, or service works.
- Get a second opinion and seek professional advice about the investment.
- Do not allow unknown or unverified individuals to remotely access your computer or other devices.
- Never make an investment decision based on a notable figure endorsement. Scammers often create fake social media posts or news articles claiming an investment is endorsed by a notable figure.
- Do not forward money to anyone who has contacted you with an offer to recover money you lost on an investment. This is likely a "recovery scam".
