SAINT JOHN (GNB) – EquityStar Momentum Growth Fund, purportedly based in the United States, has been placed on the online caution list of the New Brunswick Securities Commission.

The commission took this step after it was contacted by two persons claiming they had received several email solicitations from EquityStar Momentum Growth Fund, which is not registered to sell investment products to New Brunswickers.  

"Legitimate investment opportunities do not just appear out of the blue in your inbox or from a stranger over the telephone," said Rick Hancox, executive director of the commission. "The first step to take if approached to purchase any investment is to check with us to make sure the company and the individual are registered to sell securities in New Brunswick."

Along with not being registered, EquityStar Momentum Growth Fund has not responded to demands for more information from enforcement staff of the commission.

"The offers pitched by unsolicited emails or telephone calls can be convincing," said Hancox. "The websites to which they refer you can appear very professional and are usually full of complex language, awards or recommendations that cannot be verified. There is often a members-only section seeking personal information. These are all warning signs of a potential scam."

If you have been contacted by someone claiming to represent EquityStar Momentum Growth Fund, contact the New Brunswick Securities Commission's investor services co-ordinator at 506-658-3060 or 1-866-933-2222 (toll-free).

Being an informed investor is the best defence against investment fraud. Learn how to protect yourself by taking advantage of the materials available on the New Brunswick Securities Commission's website.

The New Brunswick Securities Commission is an independent provincial Crown corporation with a mandate to protect investors and foster New Brunswick's capital markets. It is funded by regulatory fees paid by industry.