Tri-West Investment Club Assets Seized
News Release
For Immediate Release
Winnipeg, - Following investigations into the fraudulent activities of Tri-West Investment Club by agencies in both Canada and the United States, the U.S. Department of Justice has made arrests and has seized assets. With assets being seized, there may be an opportunity for investors to recoup their losses. "Typically, with this type of investment scam, individuals who invest, lose their money for good," said Doug Brown, Director of Legal and Enforcement for the Manitoba Securities Commission. "Although there is no guarantee that individuals who invested in Tri-West Investment Club will get their money back, there is a process in place for Manitobans to make application," said Brown.
Approximately 400 Manitobans invested in the company called Tri-West Investment Club. The club required investors to invest in units of $1,000 USD for a period of one year with a return of 10% per month. A referral program was also part of the scam, whereby investors could make more money if they referred people to the club.
The U.S. Department of Justice, United States Attorney, Eastern District of California has been attempting to contact all investors. If any investor has not yet received correspondence from the U.S. Department of Justice concerning making a claim for restitution they can visit the Manitoba Securities Commission web site at www.msc.gov.mb.ca to down load the necessary applications. If they do not have Internet access contact the Manitoba Securities Commission at (204) 945-2548 or toll free at1-800-655-5244 to obtain copies of the application forms. Any questions regarding restitution should be directed to the U.S. Department of Justice at 1-888-873-3480.
Media Contact:
Ainsley Cunningham, Education and Information Coordinator
The Manitoba Securities Commission
(204) 945-4733
aicunningh@gov.mb.ca
The Manitoba Securities Commission is an independent office of the Government of Manitoba that protects investors and promotes fair and efficient business practices throughout the province. We are dedicated to ongoing investor education.
Tri-West Investment Club Assets Seized
News Release
For Immediate Release
Winnipeg, - Following investigations into the fraudulent activities of Tri-West Investment Club by agencies in both Canada and the United States, the U.S. Department of Justice has made arrests and has seized assets. With assets being seized, there may be an opportunity for investors to recoup their losses. "Typically, with this type of investment scam, individuals who invest, lose their money for good," said Doug Brown, Director of Legal and Enforcement for the Manitoba Securities Commission. "Although there is no guarantee that individuals who invested in Tri-West Investment Club will get their money back, there is a process in place for Manitobans to make application," said Brown.
Approximately 400 Manitobans invested in the company called Tri-West Investment Club. The club required investors to invest in units of $1,000 USD for a period of one year with a return of 10% per month. A referral program was also part of the scam, whereby investors could make more money if they referred people to the club.
The U.S. Department of Justice, United States Attorney, Eastern District of California has been attempting to contact all investors. If any investor has not yet received correspondence from the U.S. Department of Justice concerning making a claim for restitution they can visit the Manitoba Securities Commission web site at www.msc.gov.mb.ca to down load the necessary applications. If they do not have Internet access contact the Manitoba Securities Commission at (204) 945-2548 or toll free at1-800-655-5244 to obtain copies of the application forms. Any questions regarding restitution should be directed to the U.S. Department of Justice at 1-888-873-3480.
| Media Contact: | Ainsley Cunningham, Education and Information Coordinator The Manitoba Securities Commission (204) 945-4733 aicunningh@gov.mb.ca |
The Manitoba Securities Commission is an independent office of the Government of Manitoba that protects investors and promotes fair and efficient business practices throughout the province. We are dedicated to ongoing investor education.
