Released on December 11, 2020
The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) has issued a Cease Trade Order against Cryptobravos, Sam Oakley and Richard Grant (the parties).
Cryptobravos appears to maintain a website at www.cryptobravos.com, which offers information on how to trade and mine bitcoin and other cryptocurrencies. The parties appear to be violating provincial securities laws by engaging in trades with investors in Saskatchewan when they are not registered to trade or sell securities and derivatives in Saskatchewan.
“Before you send money or information to anyone, check to see if the company or individual is registered,” Financial and Consumer Affairs Authority Director of Enforcement Harvey White said. “In Saskatchewan, companies and individuals need to be registered in order to sell or trade securities and derivatives. You can check registration by visiting www.aretheyregistered.ca.”
The cease trade order directs that all trading in securities and derivatives by these parties cease until December 14, 2020. The order may be extended as necessary.
Anyone contacted by Cryptobravos or any company representatives should contact the FCAA’s Securities Division at 306-787-5936.
For more investor protection tips visit https://fcaa.gov.sk.ca/consumers-investors-pension-plan-members/investors.
For more information, contact:Shannon McMillan
Financial and Consumer Affairs Authority