The Kelowna RCMP is alerting residents to a series of recent investment fraud scams that have hit the area, causing significant financial losses to victims.
These investment “opportunities” often include cryptocurrencies, art, comics, sports-related memorabilia, and more.
Victims are usually tricked into expecting high returns on their investments in the short term. In many cases it is not requested.
The suspect presents a fake contract that looks like a legitimate contract. Once the first investment is made, the victim is usually offered her second opportunity, which includes the first investment.
When victims demand their return, they are told, usually under the guise of tax consequences, that the funds are unavailable and more money is needed to release them.
“The Kelowna RCMP is reminding people to carefully research investments and the individuals or companies offering them when considering investment opportunities,” said Kelowna RCMP Media Officer Cst. Mike Della Paorella.
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Beware of scams in Kelowna, according to RCMP – Kelowna Capital News
Source link Beware of scams in Kelowna, according to RCMP – Kelowna Capital News