By The Book: BCSC, MSC investigate Gold-Quest

(March 5, 2008) Securities regulators in Manitoba and British Columbia are investigating an offshore company that has been promising investors annual returns of 87.5%, as well as commissions for bringing in new investors.

Gold-Quest International offered to trade in the foreign exchange markets on investors’ behalf, with a cost of entry as low as $500 US, sent to a California address. The promoters of Gold-Quest are not licensed or registered to sell securities in either province.

Investors were offered upfront commissions of 10% of the amount invested by those they brought in, plus an ongoing monthly commission of 4% for 12 months.

(03/05/08)

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