| Ontario Securities Commission20 Queen St. W. Box 55, Suite 1900 Toronto, ON M5H 3S8 |
Commission des valeurs mobilières de l’Ontario | FOR IMMEDIATE RELEASE
March 12, 2013 |
OSC INVESTOR ALERT
Inter Reef Ltd., Roman Novak and
Radoslav Novak (doing business as Profitable Sunrise)
TORONTO – The Ontario Securities Commission (OSC) is warning Ontario investors not to invest with Profitable Sunrise, which claims to be located in the United Kingdom while representing that its banking facilities are in the Czech Republic. Profitable Sunrise is offering investors “investment plans”, but Profitable Sunrise is not registered in Ontario to engage in the business of trading in securities or advising anyone with respect to investing in, buying or selling securities.
Profitable Sunrise is representing that its “investment plans” earn abnormal returns, “risk-free”, of 1.5 per cent – 2.7 per cent per business day, which translates into an annual return of over 300 per cent. On January 11, 2013, the OSC issued a warning to investors entitled “Beware: High-yield Investment Programs are Ponzi Schemes” that explains the risks of investing with companies like Profitable Sunrise. You can find the warning on the “OSC Investor News” section of the OSC’s website at www.osc.gov.on.ca.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in capital markets. Investors are urged to check the registration of any person or company offering an investment opportunity and to review the OSC’s investor materials available at www.osc.gov.on.ca.
If you have any questions or information relating to this matter, please contact the OSC Contact Centre at 1-877-785-1555.
| For Media Inquiries: media_inquiries@osc.gov.on.ca | Carolyn Shaw-Rimmington Manager, Public Affairs 416-593-2361 Alison Ford |
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