Skip to main content

The Globe and Mail

Alberta Securities regulator warns of scam to put money in offshore accounts

The provincial securities regulator says TRID has encouraged Alberta investors to place funds in offshore accounts in order to access a new investment product that promises high returns with low risk.

Getty Images/iStockphoto

The Alberta Securities Commission is warning investors of what appears to be an illegal scheme to sell securities by Europe-based TRID Pacific Investments.

The provincial securities regulator says TRID has encouraged Alberta investors to place funds in offshore accounts in order to access a new investment product that promises high returns with low risk.

The regulator notes that it's more difficult, if not impossible, for investors to retrieve their money offshore if something goes wrong. This type of investment makes it highly unlikely for investors to be insured against loss, the regulator adds.

Story continues below advertisement

The Alberta Securities Commission says TRID isn't registered to sell securities in Alberta and is based in Monaco, but funds are sent to accounts in Spain.

Report an error
Comments

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨

Combined Shape Created with Sketch.

Combined Shape Created with Sketch.

Thank you!

You are now subscribed to the newsletter at

You can unsubscribe from this newsletter or Globe promotions at any time by clicking the link at the bottom of the newsletter, or by emailing us at privacy@globeandmail.com.