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Public Advisory: Public Cautioned About Illegal Investment Activity
by Glendale Growth & Trust and Leonard (Lennie) Goldman

Service NL advises that Glendale Growth & Trust and Leonard (Lennie) Goldman, allegedly located in Zurich, Switzerland, are trading in securities and soliciting Newfoundlanders and Labradorians to invest in the foreign exchange market, commonly known as forex, and other securities. Neither this entity nor the individual named have ever been registered under the Securities Act to solicit or trade in securities in this jurisdiction.

The legitimacy of the named entity and individual named is under investigation and consumers are cautioned to notify Service NL should they be contacted by this company or individual or if they have been contacted in the past. Consumers may contact the Financial Services Regulation Division at 709-729-2596.

Glendale Growth & Trust and Leonard (Lennie) Goldman are prohibited from acting, advertising, soliciting, conducting or negotiating directly or indirectly in furtherance of the trade of securities in the Province of Newfoundland and Labrador.

Residents are cautioned to do a background check to determine if an individual or company offering a forex investment is registered to sell investments or offer investment advice. Illegal or fraudulent forex trading schemes are often operated by individuals and companies that are located offshore.

Before sending money, particularly out of the country, for investments that appear to be too good to be true, residents should take time to know who they are dealing with. Investors can check registrations by visiting the Canadian Securities Administration website at www.securities-administrators.ca opens new window and clicking on National Registration Search. If the company or individual is not registered, please notify Service NL by email at servicenlinfo@gov.nl.ca or call the Financial Services Regulation Division at 709-729-2596.

 

Public Advisory: Public Cautioned about Illegal Investment Activity by Binary Options Canada

Service NL is warning the public that an online platform for trading binary options, www.binaryoptionscanada.net/brokers/newfoundland-labrador, is targeting residents of Newfoundland and Labrador to invest in binary options and is providing false and misleading information, placing potential investors at risk. None of the alleged investment brokers advertised on the website are registered to sell securities in this jurisdiction or in any other jurisdiction in Canada. The individuals responsible are believed to be located overseas.

A binary option is a type of option whose payout depends on whether the underlying asset (such as a stock, a commodity, a currency pairing, etc.) increases or decreases in value. Options are considered to be securities under Newfoundland and Labrador’s securities legislation.

Residents are cautioned not to deal with individuals or firms that are not registered under the provincial Securities Act to trade or provide advice in securities. Anyone contacted by any individual claiming to represent Binary Options Canada or Boss Capita, TradeRush, Banc de Binary, Stockpair, Opteck.com, 24Option or Ubinary should contact the Financial Services Regulation Division at 709-729-2596.

Before making investment decisions, investors should educate themselves on the companies they are interested in by visiting the Canadian Securities Administration website at www.securities-administrators.ca  http://www.releases.gov.nl.ca/images/externallink.gif and clicking on National Registration Search. If the company or individual is not registered, please notify Service NL by e-mail at servicenlinfo.gov.nl.ca or call the Financial Services Regulation Division at 709-729-2596.

 

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