High Profit Investment Ltd.
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Date:
2011-07-14
Contact:
3708 Riverdale Avenue
Bronx, NY 10451
USA
www.highprofitinvestment.net (link no longer operational)
Background:
High Profit Investment Ltd. (HPI), which purports to be a securities and commodities brokerage firm based in the United States, has solicited British Columbia residents to open trading accounts and have HPI trade commodities on their behalf.
HPI is not registered in British Columbia to trade in, or advise on, securities and exchange contracts. HPI is not registered, in any capacity, in any other Canadian province or in the United States.
On December 9, 2011, the Executive Director of the British Columbia Securities Commission (the BCSC) issued a Temporary Order and Notice of Hearing against HPI and Fortune Investment Group (FIG). FIG also purports to be a securities and commodities brokerage firm based in the United States and its website is virtually identical to that of HPI.
The Temporary Order prohibits HPI, FIG and other parties (the Respondents) from trading in all securities and engaging in investor relations activities until a hearing is concluded. The hearing was held on December 22, 2011 and the BCSC issued final orders against the Respondents on the same terms as the Temporary Order.
We urge British Columbia residents to exercise extreme caution when dealing with firms that are not registered to trade or advise in British Columbia.
