The Alberta Securities Commission is warning investors about a possible illegal investment scheme to sell securities by Europe-based TRID Pacific Investments.

The securities regulator says TRID’s representative Raymond Levine encouraged Alberta investors to place funds in offshore accounts in order to access a new investment product known as "Contract for Difference Trading," which promises high returns with low risk.

The ASC says this alleged investment opportunity was recently promoted on a Calgary radio station and continues to be posted and promoted through the station's website.

The ASC says the public should be aware that TRID is:

  • Not registered to sell securities in Alberta
  • Not registered to do business in Alberta
  • It’s actions are not in compliance with Alberta securities laws

The Alberta Securities Commission says there are several "red flags" common to illegal investment schemes or scams present in the promotion by TRID:

  • Assurances of high returns with low risk. Higher returns usually come with higher risk. TRID promises that for each $5,000 invested, it will leverage $100,000 to make profits; at the same time, TRID indicates that investors' risk of loss is limited. Leverage is used to increase potential gains, but there is generally also a high level of risk that it will result in increased losses.
  • Money moved offshore. This makes it more difficult, if not impossible, for investors to retrieve their money if something goes wrong. TRID purports to be based in Monaco, but funds are sent to accounts in Spain.
  • Claims that invested funds are protected from loss. This type of investment carries with it significant inherent risk that make it highly unlikely for investors to be insured against loss.

Anyone who has had dealings with TRID is asked to contact the ASC Public Inquiries office at 1-877-355-4488 or inquiries@asc.ca.