Canada’s IIROC Warns Investors Against Bonds Wealth Ltd and Koorbit Company Ltd

The Investment Industry Regulatory Organization of Canada (IIROC) warns Canadian investors not to be fooled by fraudsters claiming to be legitimate investment firms.

Investors have recently contacted IIROC asking about companies that claim to be regulated by IIROC or improperly using IIROC's name to deceive and gain legitimacy with investors, including companies doing business as:

• Bonds Wealth Limited

• Koorbit Company Limited

The companies lure investors with promises of quick profits in cryptocurrency trading. When investors try to withdraw their investments, they are asked to pay capital gains taxes before releasing funds. In Canada, investment firms are not involved in collecting or paying capital gains taxes on behalf of investors. Any company asking for payment to release funds is likely fraudulent.

The regulator urges Canadian investors to exercise caution when dealing with non IIROC-regulated firms. It advises investors to confirm if investment firms are registered with IIROC by visiting IIROC's website. Investors can also check the background, qualifications, and any disciplinary history of investment advisors registered with IIROC's free AdvisorReport.