Released on April 20, 2023
The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entities Allegiant Metals Group, Allegiant Capital Group, and an individual using the name "Stephen Miller."
"We encourage anyone who invested with these entities to reach out to the FCAA," FCAA Executive Director of the Securities Division Dean Murrison said. "We also remind Saskatchewan investors of the importance of seeking professional advice and of assessing the legitimacy of all investment opportunities by checking their registration status."
These entities claim to offer Saskatchewan residents an opportunity to invest in precious metals and over-the-counter derivatives through the online websites www allegiantmg com and allegiantcg com (these urls have been manually altered so as not to be interactive).
Neither Allegiant Metals Group nor Allegiant Capital Group are registered to trade or sell securities or derivatives in Saskatchewan. The FCAA cautions investors and consumers not to send money to companies that are not registered in Saskatchewan, as they may not be legitimate businesses.
If you have invested with Allegiant Metals Group or Allegiant Capital Group or anyone claiming to be acting on their behalf, contact the FCAA's Securities Division at 306-787-5936.
In Saskatchewan, individuals or companies need to be registered with the FCAA to trade or sell securities or derivatives. The registration provisions of The Securities Act, 1988 and accompanying regulations are intended to ensure that only honest and knowledgeable people are registered to sell securities and that their businesses are financially stable.
Tips to protect yourself:
- Always verify that the person or company is registered to sell or advise about securities or derivatives. To check registration, visit The Canadian Securities Administrators' National Registration Search.
- Know exactly what you are investing in. Make sure you understand how the investment, product, or service works.
- Get a second opinion and seek professional advice about the investment.
- Do not allow unknown or unverified individuals to remotely access your computer.
For more information, contact:
Financial and Consumer Affairs Authority