April 10, 2001
Winnipeg, – The Manitoba Securities Commission would like the public to be on the lookout for a fraudulent investment program which was being run by Seth M. Braiman, a resident of Indianapolis, Indiana, US. The Investment program which operated under the name of Spectrum Fund Group promised investors returns ranging from 200 to 2500 percent over a 60 day time period. He also indicated to investors that an insurance company, sometimes named as Lloyds of London guaranteed their funds up to 106 percent of the invested principle. “Be wary if you are told of an investment opportunity to earn uncommonly high returns. High returns usually mean high risk,” cautions Doug Brown head of Legal and Enforcement for The Manitoba Securities Commission. Staff at The Manitoba Securities Commission believe that residents of Manitoba may have invested funds which were forwarded to Braiman.
Manitoba residents are encouraged to contact The Manitoba Securities Commission if they have invested in this scheme