Scam Type
Investment Scam
Business Name Used
Investment Scam
Date Reported
April 29, 2024
Postal Code
V8E 0R9
Total Dollars Lost
$ 15000
Scam Description
I was invited to an investment group and assured that initially, the first 100 days of stock advice would be free in an effort to prove themselves credible. After that a contract would be signed to pay them a percentage of my profits. This was a pump and dump situation. After a few successful buy and sell opportunities, on Fri, April 12, I was asked to invest in IZM stock at $40.77. I bought 183 shares. Mon, April 15, I bought 100 more shares at $47.50. total investment of $17,014.53 CDN. the shares were to be held for a few days and then sold by the end of the week for a proposed 100% profit. It did rise for the next day. Woke up on April 17 to see the stock price had plummeted after 10s of millions of shares were dumped. I was instructed to sell ASAP. If instructions were not followed, there would be no further stock advice. I sold 283 shares at $4.58. Lost $15,271.07. I was told any loss incurred from their advice would be covered. No longer getting messages from either Wisdom Capital or Elena Ross, the “investment assistant”.
