Thursday 17 June 2021

Costa Rica Based Company Ordered To Strop Trading in Nova Scotia (Canada)

img-pages-12

QCOSTARICA – The Nova Scotia Securities Commission (Canada) issued a temporary cease-trade order against two financial specialists and a Costa Rica-based company for alleged “boiler room tactics.”

Stratus Financial Group International (Stratus) and financial specialists Magnus Torgenson and John Westbrook are not registered to sell securities in this province and were the subject of three complaints in Nova Scotia.

- Advertisement -

The company’s representatives allegedly tried to pressure unidentified Nova Scotians during phone calls to invest in natural gas futures and forex (foreign exchange) options, the commission said in a news release issued Monday.

In some situations, companies call lists of people to pressure them into “buying highly speculative, and sometimes fraudulent, investments,” it said.

“Investors who fall prey to the high-pressure, now-or-never script used by these kind of representatives are at significant risk of losing a lot of money,” Heidi Schedler, enforcement counsel for the commission, said in the news release.

“We’re concerned for the financial safety of Nova Scotians and want the public to know that they can always hang up the phone and take the time to make sure that whoever is contacting them is registered with a securities commission.”

- Advertisement -

The Financial and Consumer Services Commission in New Brunswick issued a similar cease-trade order against the company and Ken Powers, a self-identified representative of Stratus, earlier this year.

Advisories have also been issued by security commissions in Manitoba and Ontario warning investors about the company, which is also not registered to sell securities or commodities futures in those provinces.

The Nova Scotia order will remain in effect for 15 days.

Source: The Chronicle Herald

- Advertisement -

FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Informants assisted OIJ in corruption investigations, says the minister

QCOSTARICA - The investigation into alleged bribery of public officials in...

MOST READ

Plate rupture has potential for stronger quakes

QCOSTARICA - The 5.7-magnitude tremor, felt at 5:27 pmon Thursday, occurred in a maritime zone with the potential for stronger earthquakes, explained Ivonne Arroyo,...

Nicaragua government assures that detainees violated one of the Ten Commandments

TODAY NICARAGUA – The vice president of Nicaragua and First Lady, Rosario Murillo, assured that those who feel persecuted are for the crimes they...

Simple to request certification of vaccines against covid-19 applied in Costa Rica and abroad

QCOSTARICA - The Ministry of Health issued a new guideline on Thursday that establishes the requirements to request the vaccination certificate against covid-19 in...

Despite investigation, construction of road works by H. Solís will continue

QCOSTARICA - Five major road works under the responsibility of the H. Solís company will continue in development despite investigations for alleged corruption involving...

5.7 Quake jolts Costa Rica

2021-06-10 17:27:0.5, Magnitude: 5.76, Depth 10.0 km, Epicenter: 95.5 km Southwest Malpais de Puntarenas. The jolt was felt also in the Central Valley. No reports...

Informants assisted OIJ in corruption investigations, says the minister

QCOSTARICA - The investigation into alleged bribery of public officials in exchange for contracts for road works, received help from informants within the Consejo...

College of Physicians negotiates donation of a million and a half vaccines against covid-19

QCOSTARICA - This week there could be very good news for the country in the fight against the coronavirus pandemic if the College of...

Lack of space on Racsa’s hard drive paralyzed immigration consultation at the airport this Monday

RICO's DIGEST - We've all had this happen, your computer's hard drive is full and your computer crashes. But we are not the Radiográfica...

Today’s Vehicle Restriction: June 12, “ODDS”

Today, Saturday, June 12, only ODDS can circulate. The measure is countrywide and applied between 5:00 am and 9:00 pm, save for those under the...

WANT TO STAY UP TO DATE WITH THE LATEST!

Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.