VANCOUVER, March 12, 2013 /CNW/ - The British Columbia Securities Commission is warning the public not to send money to Profitable Sunrise, an entity that purports to be incorporated and registered in the United Kingdom, and claims to provide short-term bridge loans to companies in the United States.
According to its website, Profitable Sunrise offers five different investment plans, with a minimum investment of $10.00 and a "risk free" return of between 1.6% and 2.7% per business day on a 180 to 240-day term. The BCSC contends that these returns are so high that investors cannot earn them through legal means.
The BCSC has received reports of British Columbia residents wiring money to Profitable Sunrise, and wishes to advise the public that Profitable Sunrise is offering its investments without a prospectus and without being registered.
The Alberta Securities Commission has also issued an investor alert with respect to Profitable Sunrise's activities, and the North Carolina Securities Division recently issued a Temporary Order to Cease and Desist against the entity and its agents.
The BCSC urges investors, agents or members of the public who have been approached by or have information about Profitable Sunrise to contact the BCSC inquiries line at 604-899-6854 or 1-800-373-6393 (toll free).
The BCSC is the independent government agency responsible for regulating trading in securities within the province. Learn how to avoid investment fraud at the BCSC's investor education website: www.investright.org.
SOURCE British Columbia Securities Commission