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Saskatchewan Resident Target of a Reload Scheme

Released on May 7, 2018

The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) has issued a Temporary Cease Trade Order against Global Financial Group NV, David Taylor, Damien Gerhard Phelps, and Nathan Britten who appear to be running a reload scheme.

A reload scheme occurs when someone attempts to take money from a person who was previously the victim of a scheme or from a person who holds a security in a failing company.  The person is offered help to recover their losses, but is manipulated into losing more money.

Global Financial Group NV (Global Financial) purports to be an Ontario company with a registered office located in Mississauga, Ontario, as well as offices in China and the Bahamas.  David Taylor and Damien Gerhard Phelps are either officers or employees of Global Financial, and appear to have traded in securities or derivatives with a Saskatchewan resident.

Nathan Britten, who uses the email address of nathan.britten@computershareinvestorservicesplc.uk, assisted with those trades and also advised the resident on securities or derivatives.  He is masquerading as a real employee of the UK-based company, Computershare.  The FCAA has been in contact with Computershare, which confirmed that the communications sent to the Saskatchewan resident were not from one of its employees.  Computershare further stated that the email address and phone number used by Nathan Britten do not belong to the company.  The Nathan Britten who is the subject of the Temporary Cease Trade Order is not to be confused with any actual employee of Computershare with the same name.

Global Financial, David Taylor, Damien Gerhard Phelps and Nathan Britten are not registered to trade in or advise on securities or derivatives in Saskatchewan.

Always check to make sure a company is registered before doing business with them.  To check registration, use the Canadian Securities Administrators’ National Registration Search database, www.aretheyregistered.ca.

Anyone contacted by Global Financial Group NV, Nathan Britten, David Taylor, or Damien Gerhard Phelps should contact the FCAA Securities Division at 306-787-5936.

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For more information, contact:

Shannon McMillan
Financial and Consumer Affairs Authority
Regina
Phone: 306-798-4160
Email: shannon.mcmillan@gov.sk.ca

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