The Alberta Securities Commission is warning investors to be cautious if approached by Affiliated Trade Group and says the company is not registered to sell securities or derivatives in Alberta.
The ASC says Affiliated Trade Group claims to have offices in Calgary, Costa Rica, Japan and Switzerland and that several ‘red flags’ were present in the group’s promotions and sales techniques.
Officials say the group’s actions do not comply with Alberta securities laws and that several irregularities that are common to illegal investment schemes were identified.
The ASC says Affiliated Trade Group is not registered to sell securities in Alberta and that no company by that name has offices in the locations that are listed on its website.
Officials say a phone number on the group’s website, that appears to be from Calgary, goes to a VOIP provider in Florida and that additional contact numbers are not answered or not in service.
The group is also accused of using high-pressure sales tactics. The ASC says some potential investors in Alberta have reported that they were threatened with legal action or arrest by the ‘Director of Sales’ if they did not go along with the investment arrangement.
Alberta investors can check the registration status of people and companies that are selling investments through the Canadian Securities Administrators’ National Registration Search database.
Click HERE for more information.
