News Release

Vancouver – The BC Securities Commission (BCSC) is encouraging B.C. victims of a U.S.-based Ponzi and pyramid scheme to file a claim with the U.S. Securities and Exchange Commission (SEC).

The US$15 million fraud was orchestrated in 2014 and 2015 by Daniel Rojo Fernandes Filho, a Brazilian national who was living in Florida. U.S. federal courts ruled in 2019 that Filho and several others, including Heriberto C. Perez Valdes, a former Florida resident, committed securities fraud.   

The scheme involved selling membership units in Massachusetts-based DFRF Enterprises LLC and Florida-based DFRF Enterprises, LLC. Investors were promised extraordinarily high no-risk returns in the entities’ supposedly lucrative gold mining operations. In reality, the entities did not have any gold reserves, and their only source of money was investors.

People who purchased memberships in DFRF Enterprises between June 1, 2014 and June 30, 2015 may be eligible for a distribution from the SEC’s DFRF Distribution Fund. Eligible investors can submit an electronic claim by December 19. More information about the process is available on the official claims website.

In February 2023, a BCSC panel ordered three B.C. residents to pay a combined total of almost $956,000 for their role in the fraud; the BCSC also banned them from the investment market for varying amounts of time. The BCSC found that 137 B.C. residents or people connected to the province lost a total of $1.5 million. In total, there were about 1,400 victims around the world.

About the BC Securities Commission (bcsc.bc.ca)

The BC Securities Commission, an independent provincial government agency, strives to make the investment market benefit the public. We set rules, monitor compliance by industry, take action against misconduct, and provide guidance to investors and industry. As guardians of B.C.’s investment market, we’re committed to maintaining a market that is honest, fair, competitive and dynamic, enabling British Columbians to thrive.  

Media Contact:
Elise Palmer
604-899-6830

Public inquiries:
604-899-6854 or 1-800-373-6393 (toll free)
inquiries@bcsc.bc.ca

Learn how to protect yourself and become a more informed investor at www.investright.org