A Parksville resident is out roughly $200,000 after investing in what turned out to be a fraud, on the referral of a pal who was additionally scammed.
They have been promised large returns by somebody she thought was a part of a authentic on-line monetary funding group, in line with Oceanside RCMP.
The resident began on a authentic buying and selling platform and commenced communication with a fraudster by way of a social media messaging app, police stated.
They initially invested $2,500 right into a cryptocurrency fund, have been informed they’d earned a return and elevated their funding with quite a few $10,000 increments totalling roughly $200,000.
“When the portfolio ‘worth’ elevated to $35 million, the resident requested the buying and selling platform switch the $35 million to a private account,” Sgt. Shane Price informed the PQB Information. “The buying and selling platform suggested the resident that the funds invested in the cryptocurrency fund weren’t recoverable, as they’d been willingly transferred by them exterior of the platform. It was at this level, the resident realized they have been scammed.”
Regardless of this resident appearing on an funding suggestion they obtained from a trusted pal, it turned out to be a fraud, in line with police.
“Potential buyers are reminded that on-line investing can have large threat and never all web sites and funding alternatives are authentic,” Price stated. “If in doubt, examine along with your financial institution or a monetary advisor from a good establishment. If the returns are too good to be true, they most likely are.”
