Securities Investor Warnings

Montréal – The Autorité des marchés financiers (the “AMF”) cautions Québec investors about solicitations related to financial products and services offered by Sachs International S.A. (Sachs), Citadel Consultancy Ltd. (Citadel), Ty Gold and Robert Rosa. These companies and individuals are not registered with the AMF and are therefore not authorized to offer their products and services in Québec.

These products and services are offered on several websites, the main one being www.sachsint.com. The site’s registrar apparently registered two other domain names: mylloydstrader.com and forexoptionstraderplatform.com.

Investments based on unrealistic promises
At least one Québec investor was solicited to invest in gasoline call options. The person was told that Sachs was a large brokerage and wealth management firm and that the value of the investment would double or triple within two weeks. It was claimed that losses would not exceed 15% in the worst case. The complainant invested funds that were transferred into the account of Citadel, a Hong Kong-based company.

The investor then purchased other options after being promised that their value would double within three weeks, before losing contact with the seller. The money obtained from the options was reportedly re-invested in gold options, which lost almost all of their value. The investor was never able to recover the money invested.

Warnings issued in other provinces
The securities commissions of Ontario and British Columbia issued warnings about Sachs regarding the firm’s reported solicitation of residents without being registered. In addition, the Financial and Consumer Services Tribunal of New Brunswick issued prohibition orders against Sachs, Charles King and Ulises Azofeifa Robles based on information similar to that available to the AMF.

Lastly, the Ontario Securities Commission also issued a warning about the above domain names.

Don’t become a victim of fraud
Whether on the Internet or in person, offering investments is a regulated activity. Any individual or firm 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, don't hesitate to contact the Information Centre. Your information could help the AMF better protect consumers.

Visit the AMF website to learn about other ways to prevent fraud.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.

– 30 –

Information:

Media only:
Sylvain Théberge: 514-940-2176

Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337
www.lautorite.qc.ca
Twitter: @lautorite