Warning Against:

Lehman Brothers & Associates Corp.

• Published:

  2009-06-05

• In May 2009, representatives of Lehman Brothers & Associates Corp. solicited British Columbia residents who owned low-value shares of another company and offered to buy those shares for far more than their market value.  To complete the transaction, investors were asked to pay a refundable fee in advance, as a "security deposit", and wire it to an offshore bank account.

  Lehman Brothers & Associates Corp. is not registered in British Columbia to trade in, or advise on, securities and exchange contracts.

  On April 9, 2009, the Autorité des marchés financiers, in Quebec, issued a press release warning the public about Lehman Brothers & Associates Corp. and other persons.

  On April 15, 2009, the Saskatchewan Financial Services Commission issued a Temporary Order against Lehman Brothers & Associates Corp. and others, and, on April 30, 2009, it issued an Extending Order extending the Temporary Order.

  The Danish Financial Supervisory Authority has also issued a warning about Lehman Brothers & Associates Corp.