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Resident loses $30,000 in investor scam

A County resident has lost approximately $30,000 in an online investment scam.

Prince Edward OPP const. Aaron Miller states an individual reported Monday they received an email from someone purporting to be an investment advisor.

“The advisor promised positive returns and a successful investment plan. Further correspondence via email lead to the individual sending approximately $30,000. This Canadian currency was then to be exchanged and invested in Bitcoin. The individual was unable to recover any of the funds. ”

Miller notes that while there are many online trading platforms and advisory services, it is important to check their credentials.

“There are many designations for financial advisors, be sure to ask your financial advisor about their education so you can determine whether someone has specialized training to help you achieve your financial goals. Some common fraud warning signs and suggestions include:
· Were you promised a high return on a low risk investment?
· Can you verify the investment with a credible source?
· Is the person who contacted you registered?

“Before sending money, always remember to pump the brakes, ask questions and conduct research. If it’s too good to be true, it likely is.”

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