The Financial and Consumer Services Commission (FCNB) is warning the public to be aware of investment solicitations by Ecovexco Investment Group, a company that has been advertising a ‘no risk’ investment opportunity in newspapers across Canada.
The advertisements apparently promise unrealistically high returns on investments in complex and high-risk markets. The company is purportedly operating out of North Carolina and/or the United Kingdom and is not registered to sell investments in New Brunswick.
“Before making any investment, you should research it thoroughly, including checking the registration of any person or company offering the product,” said Jake van der Laan, Director of Enforcement with FCNB. “Markets can be volatile and high returns with no risk are unrealistic. Also, once money is sent overseas, it is virtually impossible to recover.”
Investors are urged to contact FCNB if they have any concerns at all about the legitimacy of the investment opportunity. The key is for investors to be informed so they can spend smart and spend safe. FCNB has free, online resources, programs and tools to help investors be more financially informed and avoid the pitfalls and scams that may threaten their financial success.
The public is encouraged to contact FCNB at 1 866 933-2222 (toll-free) or via their website if they’ve been contacted by Ecovexco or have seen its advertisements or to get further information, to make a complaint or to express investment or consumer related concerns.
The Financial and Consumer Services Commission has the mandate to protect consumers and enhance public confidence in the financial and consumer marketplace through the provision of regulatory and educational services. It is responsible for the administration and enforcement of Provincial legislation that regulates the following sectors: securities, insurance, pensions, credit unions, caisses populaires, trust and loan companies, co-operatives, and a wide range of other consumer legislation. It is an independent Crown Corporation funded by the regulatory fees and assessments paid by the regulated sectors.