OSC INVESTOR ALERT: BITCOIN MULTI-LEVEL MARKETING SCHEME
15 Feb 2018
TORONTO – The Ontario Securities Commission (OSC) is warning investors that USI Tech Limited (USI Tech), Eleanor Parker and Casey Combden are not registered to sell securities in Ontario.
USI Tech, Ms. Parker and Mr. Combden appear to be involved in a multilevel marketing scheme that targets Ontario investors and encourages them to purchase bitcoin packages.
The OSC has issued a temporary cease trade order that prohibits all trading in any securities by USI Tech, Ms. Parker and Mr. Combden.
The Financial and Consumer Affairs Authority of Saskatchewan has also issued a temporary cease trade order against USI Tech.
Additionally, the securities commissions of British Columbia, Manitoba, New Brunswick and Nova Scotia have published investor alerts about USI Tech.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in the capital markets. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.gov.on.ca.