New Brunswickers Warned About Investment Wagering Fraud Schemes

New Brunswick Crime Stoppers and the Financial and Consumer Services Commission are warning the public about investment fraud schemes involving binary options. Officials says many New Brunswick investors are being approached to open online accounts to trade in binary options, which are essentially a wager as to whether the price of a financial asset will go up or down. Investors are being approached by telephone or through advertisements on the internet. 

The FCNB says complaints involving binary options are by far the most common complaint they've received recently. To date, all such complaints appear to involve illegitimate operations. Investigators warn that once money is sent to these operations, it is likely impossible to recover.

FCNB's website has resources to help recognize the signs of investment fraud.

If you have any information on this illegal activity and wish to remain anonymous, please contact NB Crime Stoppers by calling 1-800-222-TIPS (8477), texting TIP212 + your message to 'CRIMES' (274637), or online by Secure Web Tips.

Crime Stoppers will pay up to $2,000 for information leading to an arrest.