Warning - 1,000% return in 21 days - Too good to be true?

Investor warnings - News

Montréal - Further to analyses under its cybersurveillance program, the Autorité des marchés financiers (the "AMF") is warning Québec investors about the gimsafeinvestor.com website and the firm Galaxy Investment Management Limited, which administers the site. The firm and the website have been soliciting Québec investors through classified Web ads proposing various investment plans in specialized "portfolios" offering extremely high guaranteed returns of up to 1,000% in 21 days.

In addition to presenting various investment plans that seem too good to be true, the website offers a remuneration-based referral program. Verifications by AMF investigators revealed that some of the content of the gimsafeinvestor.com website, in particular the physical address and logo, appears to be taken from various websites of companies authorized to pursue activities elsewhere in the world.

The gimsafeinvestor.com website and its administrator, Galaxy Investment Management Limited, are not registered with the AMF and do not rely on any exemption which would allow them to solicit investors in Québec.

The Ontario Securities Commission also has an investor alert about Galaxy Investment Management Limited This link will open in a new window posted on its website.

Don't become a victim of fraud
Whether on the Internet or in person, offering investments is a regulated activity. The person or company asking for your money must be registered with the AMF. Don't become a victim of fraud. Make sure you check whether the person or company is in the register of firms and individuals authorized to practise.

If you think you have detected a scam or been the target of fraud, do not hesitate to contact the Information Centre. Your information could help the AMF better protect consumers.

Visit the AMF website for more advice on how to prevent fraud.

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

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