Pacific Trust & Securities Perpetrating an Advance Fee Fraud
During an investigation recently conducted by Financial Services Commission of Ontario (FSCO), it came to the attention of FSCO that Pacific Trust & Securities may have been an entity related to Equity Financial Trust (see FSCO Warning Notice – July 14, 2006) which, along with other related entities, may have been involved in perpetrating a scam similar to what is commonly known as an Advance Fee Fraud (AFF). It appears that the entities used "Trust" in their names in an attempt to defraud consumers. However, it is not registered to carry on business as a loan and trust corporation.
Warnings