Montréal – The Autorité des marchés financiers (the “AMF”) is warning Québec investors about solicitations for financial products and services by Kaizen Global Network (“Kaizen”), a foreign exchange (FOREX) investment platform which is not licensed to do business in Québec.
Kaizen’s products and services are offered on several websites, the main one being www.kaizenglobal.com, which is owned by Kaizen Group International Ltd., a company registered in England. The sole shareholder and director of the company, Reza Mokhtarian, lives in Toronto and has been charged under the Criminal Code with fraud over $5,000.
Kaizen also operates under the following sites:
Investors should be aware that Kaizen Global International Ltd. and Mentor Tips Inc. have not received approval for a prospectus from the AMF and do not benefit from an exemption. In addition, neither these companies nor Mr. Mokhtarian is registered with the AMF in any capacity whatsoever. They are therefore prohibited from soliciting investors in Québec.
An assortment of products and services and unrealistic promises
The products and services offered by Kaizen include seminars about currency trading, trade replicators (sold under the names Autotrader and Synergy Trader) and investments in the form of “packs,” which compensate holders for recruiting new members. Large and unrealistic payouts are associated with these packs, including in the form of bonuses.
We have identified individuals and groups operating in Québec and promoting Kaizen products and services. They operate primarily through social media and on-line ads.
Don’t become a victim of fraud
Whether on the Internet or in person, offering investments is a regulated activity. Any individual or business promoting an investment product must be registered with the AMF or be exempt from the registration requirement. To make sure you don’t become a victim, check whether the individual or firm is on the register of firms and individuals authorized to practise.
If you think you have detected or been the target of a scam, do not hesitate to contact the AMF Information Centre. Your information could help the AMF better protect consumers.
Visit the AMF website to learn about other ways to prevent fraud or for more information about the foreign exchange market.
The Autorité des marchés financiers (the “AMF”) is the regulatory and oversight body for Québec’s financial sector.
– 30 –
Sylvain Théberge: 514-940-2176
Québec City: 418-525-0337