Canada’s BCSC has warned investors to stay alert against companies that aren’t officially registered, especially those that are claiming to provide products and services related to COVID-19 at this point.
British Columbia Securities Commission (BCSC), a regulatory authority based in Canada, has alerted the market spectators by issuing a warning against Zen Vybe Inc, a company that has been allegedly offering investment opportunities in health products through cheap marketing tactics.
According to the details provided by the Canadian based regulatory company, Zen Vybe Inc, has been trying to manipulate and exploit the current circumstances surrounding the COVID-19 pandemic, by deliberately naming its advertisements in a highly misleading and calculated manner, to lure the users towards its website.
One of the adds by the Zen Vybe Inc was reportedly labeled “Corona Virus Cure”, which is perhaps a deliberate attempt by the company to direct the viewers towards its website, zenvybe.net. While the authenticity of the website as well as the company itself is unknown, it is being said that the users that click on the ads end up in the company’s web page, and are bombarded with information pertaining to investment in holistic health via the company’s shares.
BCSC has further informed that the Company is not registered with it, neither has it been allowed to trade shares and sell securities in British Columbia. It was also revealed that the company has not even filed a prospectus with the BCSC.
The Canadian regulating authority has advised the residents of British Columbia to stay alert whilst dealing with any of the companies that aren’t officially registered and authorized to have business and trade dealings in the country. It has also warned investors against companies claiming to have products or services to prevent, detect and cure COVID-19.