Nov. 13, 2009
SAINT JOHN (CNB) - Investors are being warned by New Brunswick Securities Commission (NBSC) enforcement staff about a potential land-banking investment scheme.
Securities regulators in Saskatchewan and Ontario have ordered land-banking companies based in Puerto Vallarta to cease trading. Regulatory authorities are continuing their investigations into these entities.
At the present time, there are no known New Brunswick investors. New Brunswickers should be cautious of offers to buy securities related to the following companies because they are not registered to sell securities in New Brunswick:
Land-banking is a securities-related transaction whereby an individual invests in land in anticipation that it will later be sold at a greater value. Investors should be cautious of land-banking when the land is being sold in a location with which they are not familiar.
Several individuals are alleged to be involved in selling or promoting these securities to Canadians. They include Brian J. Wolf Zacharias, Roger Fernando Ayoso Loyo, Alan Hemmingway, Kelly Friesen, Sonja A. McAdam, Ed Moore, Kim Moore, Jason Rogers, and Dave Urrutia.
New Brunswickers are urged to report any contact by the companies or individuals listed to the NBSC at 1-866-933-2222 or by e-mail, email@example.com.
The NBSC is the Crown corporation that regulates the securities industry in New Brunswick. It is funded indirectly by investors through industry. Its mandate is to protect investors from unfair, improper or fraudulent practices, and to foster fair and efficient capital markets, as well as confidence in those markets.
MEDIA CONTACT: Michelle Robichaud, communications, New Brunswick Securities Commission, 506-643-7045 or 1-866-933-2222, e-mail, Michelle.Robichaud@nbsc-cvmnb.ca.