Investor Alert: Bonds Wealth Ltd and Koorbit Company Ltd

Be an informed investor - don't be fooled by fraudsters misrepresenting themselves

TORONTO, Aug. 27, 2021 /CNW/ - The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by fraudsters claiming to be legitimate investment firms.

Investors have recently contacted IIROC asking about companies that claim to be regulated by IIROC or improperly using IIROC's name to deceive and gain legitimacy with investors, including companies doing business as:

• Bonds Wealth Limited
• Koorbit Company Limited

The companies lure investors with promises of quick profits in cryptocurrency trading. When investors try to withdraw their investments, they are asked to pay capital gains taxes before releasing funds. In Canada, investment firms are not involved in collecting or paying capital gains taxes on behalf of investors. Any company asking for payment to release funds is likely fraudulent.

Investors can verify an investment firm's registration on IIROC's website. They can also check the background, qualifications, and disciplinary history of investment advisors registered with IIROC with our free AdvisorReport.

IIROC-regulated investment firms and individuals must meet our high standards and deal fairly, honestly and in good faith with Canadian investors. We urge Canadian investors to exercise caution when dealing with non IIROC-regulated firms.

Victims of this type of scam should contact their local securities regulator.

The Canadian Securities Administrators (CSA) offers helpful tips on how to avoid financial fraud.

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About IIROC:

IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of 175 Canadian investment dealer firms of varying sizes and business models, and their more than 30,000 registered employees. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News

Sean Hamilton, Director, Public Affairs and Member Education Services, 647-308-6497, [email protected]

Related Links

www.iiroc.ca