Be an informed investor - Protect yourself against fraudulent schemes

TORONTO, July 15, 2025 /CNW/ - The Canadian Investment Regulatory Organization (CIRO) is warning investors about a scam trading group that is impersonating CIRO-regulated firm IG Wealth Management and its employees and promoting fraudulent digital trading services through social media apps such as WhatsApp, Telegram, Facebook and LinkedIn.

Scammers have been operating several fake Facebook pages under various names including "IG Management: Path to FIRE" and "Achieve FIRE with Larren Lawson," that impersonate brand pages of IG Wealth Management and misuse the company's logo, name, marketing materials and employee identities. They are also running fake Facebook profiles under the names "Phillip Ray Petursson" and "Keric Nadia Kathleen" that impersonate IG Wealth Management's Chief Investment Strategist, Philip Petursson, and Nadia Keric, a real financial planner who does not work for IG Wealth Management. Other fake Facebook and LinkedIn accounts associated with this scam use the names Kent Ver (Markus), Victoria Arber and Sean Larren, and fraudulently list IG Wealth Management as their employer.

Investors should beware of any communications from the fake accounts listed above on social media or messaging apps. The only authorized social media accounts for IG Wealth Management are linked on the company's website.

To Protect Yourself Against Fraud:

• Verify the authenticity of any communication by contacting firms directly using their official website and contact details.
• Report suspicious activities where entities either claim to be regulated by CIRO or work for CIRO to CIRO immediately.
• Avoid sharing personal or financial information without confirming the legitimacy of the request.

CIRO is committed to protecting investors and providing resources to address fraudulent activities. For more information on identifying and reporting scams, visit the CIRO website.

Please note that investors can confirm with CIRO's Complaints & Inquiries team to verify the legitimacy of anyone claiming to represent CIRO. All individuals registered to offer financial advice in Canada are listed on the National Registration Search of the Canadian Securities Administrators (CSA).

CIRO's Office of the Investor provides resources to help Canadians avoid investment fraud and protect their financial well-being. See Avoiding Fraud and Protecting Your Investments on CIRO's website for additional information.

If you believe you have been a victim of this or a similar scam, immediately contact your bank, local police, your provincial securities commission, and the Canadian Anti-Fraud Centre. If there are claims of CIRO regulation or the fraudster claims to work for CIRO, please also report it to CIRO.

About CIRO

The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.

SOURCE Canadian Investment Regulatory Organization (CIRO)